WorkingWoman.com Unveils Women's Business Exchange, First Online Marketplace Connecting Women Business Owners With Federal Agencies.

Business Editors

WASHINGTON--(BUSINESS WIRE)--Sept. 11, 2000

Exchange Links Directly to New Womenbiz.gov Site; Former SBA and White

House Veteran Joins Working Woman Network team

Taking its lead from the current administration's initiative to augment the level of goods and services bought from women-owned businesses, WorkingWoman.com today introduced the Women's Business Exchange, a transactional website to provide women business owners with an easy, affordable solution for selling to government procurement agents. The site will link with the government's own womenbiz.gov, also launched today at a White House ceremony.

Before an audience of key OSDBU (Office of Small and Disadvantaged Business Utilization) directors and other leaders from most of the Federal departments and agencies, Women's Business Exchange demonstrated its highly scalable, browser-based e-commerce engine that will enable procurement departments to access the highly fragmented segment of thousands of women suppliers easily and efficiently.

Highlighting the importance of empowering women entrepreneurs in the business world, Kay Koplovitz, CEO, Working Woman Network (WWN) and Chair of the National Women's Business Council, said, "By harnessing the power and capabilities of the Internet for government procurement as well as Prime Contractors, the Women's Business Exchange will have a powerful impact on the 9.1 million women business owners in the U.S." Women business owners represent 38% of all firms in the United States, generating over $3.6 trillion in sales and employing 27.5 million workers.

Later in the day, Koplovitz was a featured speaker, together with Secretary of Commerce Norman Mineta, Secretary of Transportation Rodney Slater, and SBA Administrator Aida Alvarez, at the White House launch of WomenBiz.gov, an informational website that will link directly to the Women's Business Exchange. "These are two very important examples of how the government and private companies are working together to address women's issues where it really matters - in their wallets," said Koplovitz. "These complementary sites create a powerful tool allowing women to streamline their operations and remain competitive."

Relationships with Government

Through its acquisition earlier this year of the Business Women's Network (D.C.), Working Woman Network has relationships in place with 20 Departments and agencies, committed to advancing more business for women entrepreneurs. According to Edie Fraser, President, the BWN division of Working Woman, there is an aggressive agenda to support the President's Executive Order No.13157 (May 23, 2000), calling for a goal of at least 5% of government contracts to be directed to women-owned businesses.

"We have signed Memoranda of Understanding (MOUs) with Agriculture, Commerce, the Environmental Protection Agency, Export/Import Bank, Interior, and the SBA and links with the Air Force, Defense, Education, Energy, Health & Human Services, HUD, Labor, US Postal Service, Social Security Administration, State, Transportation and the Treasury, indicating their commitments to increasing opportunities for businesswomen," said Fraser. She explained that most MOUs relate to initiatives to develop "more business for more women" through the OSDBU offices. "Commerce, for example, focuses on technology, e-commerce, trade, census data and minorities." Capitol Veteran Joins Team

Former SBA Associate Deputy Administrator for Entrepreneurial Development Betsy Myers was also introduced at the luncheon, having joined WWN as the Exchange's Strategic Managing Director. "Betsy's knowledge of government operations as well as various supplier diversity initiatives is unparalleled," said Koplovitz. "We are very fortunate to add her skills and sensitivities to the Exchange." Myers, who also served as Deputy Assistant to the President and Director of Women's Initiatives, recently graduated from Harvard's Kennedy Business School and will oversee the Exchange's partnerships in the women's entrepreneur arena.

"The Women's Business Exchange creates an exciting partnership between the government and private sector. It's also a valuable tool to help government agencies and their Prime Contractors not only reach -- but surpass-- procurement goals for women business owners," said Myers. "I am proud to join an organization such as Working Woman Network, dedicated to increased information and opportunities for women business owners."

Full-Circle Marketplace

The Women's Business Exchange will allow small and large businesses to source, research requests for proposals, learn about and complete certification for eligibility, forward bids and product brochures, sell, bill, collect and track orders on the Web. Myers said, "It's one-stop shopping for the government buyer; it also makes the supplier's job easier by providing easy-to-use tools, and a support and mentoring community, to help the businesses satisfy the requirements of Prime Contractors, large institutional and corporate buyers. It's cost-efficient for everyone."

Establishing the "full circle" of buyers and sellers necessary for an effective marketplace, the supplier-driven Women's Business Exchange already hosts an existing database of more than 7,200 women-owned businesses, and access to at least 25,000 companies from its partnership with PurchasePro.com, builders of the e-marketplace "engine" behind the Exchange.

Full Service Includes Certifying

Completing the "soup to nuts" element for full service and easy transactions, Women's Business Exchange also announced a strategic alliance with EZCertify.coma, providing software to help small businesses apply for and receive certification in the Small Business Administration's 8(a) Business Development and Small, Disadvantaged Business Programs.

"Companies that want to take advantage of supplier diversity initiatives must, first and foremost, qualify with the government. The Women's Business Exchange now incorporates tips, examples, definitions and cautions to assist applicants for these programs in fulfilling the certification process," said Dick Otero, CEO EZCertify. "We are very excited at the chance to work with Working Woman, a national authority on women in business for more than 25 years.

Impacts Corporate Buyers Too

The Women's Business Exchange will also have a substantial corporate buyer base, completing the sales "circle." Representatives attending the Exchange's debut came from a wide range of prime government contractors and major companies, including Aetna, Motorola and Unisys.

Koplovitz said the Exchange will announce in the next couple of weeks partnerships with a heavyweight slate of "anchor buyer" companies. "Of course, we want to help corporate America fulfill its obligation to buy more from women-owned businesses as well."

About Working Woman Network

WorkingWoman.com and Women's Business Exchange are part of Working Woman Network, the leading global marketplace and resource for professional and entrepreneurial businesswomen in today's digital economy. Its properties also include Working Woman and Working Mother magazines, the National Association for Female Executives (NAFE), a conference division, and The Business Women's Network.