Margarita Howard, CEO of HX5, a prominent government contracting firm, has gained significant attention as a dynamic leader and a guiding light for women entrepreneurs. As the sole owner of HX5, Howard has paved her way in a highly competitive sector, securing contracts with major U.S. government agencies like NASA and the Department of Defense. In a recent discussion, she shared her valuable insights and advice for women striving to succeed in entrepreneurship, particularly in the challenging world of government contracting.
The Journey of Women in Entrepreneurship
Women-owned businesses continue to make strides, with over 11.6 million firms across the United States, constituting 39% of all privately held enterprises. These businesses employ nearly nine million people and generated $1.7 trillion in sales as of 2021. Despite this progress, women entrepreneurs still face notable barriers, particularly in obtaining loans and venture capital funding, compared to their male counterparts.
Margarita Howard highlights the need for resilience, strategic planning, and continuous development for women entrepreneurs. These core traits can help them thrive in the competitive marketplace, particularly in government contracting, where success hinges on credibility and excellence, regardless of gender.
Key Insights from Margarita Howard for Women Entrepreneurs
Margarita Howard emphasizes the importance of education and preparation for success in government contracting. As a first step, she encourages women entrepreneurs to take full advantage of the resources available through the U.S. Small Business Administration (SBA). Certification as a women-owned small business (WOSB) can open doors to government contracts, but Howard stresses that it’s critical for businesses to understand the procurement process.
“A business must always comply with legal, regulatory, and ethical requirements throughout the entire contract life cycle,” she advises. From proposal to close-out, integrity and professionalism are paramount when working with government agencies.
Howard also advocates for professional development and networking as crucial components of long-term success. She advises women entrepreneurs to continuously invest in themselves and their teams to stay current on industry trends, regulations, and best practices. This proactive approach ensures that women-owned businesses remain competitive in an evolving marketplace.
Navigating Trends in Government Contracting
Margarita Howard has also observed a number of trends in the government contracting space that are shaping the future for women entrepreneurs. Among these is the growing emphasis on diversity and inclusion in government contracts. More agencies are prioritizing contracts for small and women-owned businesses, which may present increased opportunities for qualified WOSBs.
However, the rise of women entrepreneurs in government contracting also leads to stiffer competition. “As more women-owned businesses enter the government contracting market, competition for contracts is intensifying,” Howard notes. To stand out, businesses must differentiate themselves through their capabilities, past performance, and the value they can offer government clients.
Collaborative opportunities are another trend highlighted by Howard. With more women entering the space, there are growing opportunities for teaming and partnerships with other businesses. Collaborating with larger firms or other small businesses can help women-owned companies compete for larger contracts or projects that require diverse expertise.
Adapting to a Changing Workplace
The COVID-19 pandemic accelerated the shift to remote work and virtual collaboration, and this change is influencing how government contracts are executed. According to Howard, women-owned businesses that develop the skills and infrastructure necessary to deliver services remotely may have a competitive edge in the near future.
Another significant trend is the increasing consideration of sustainability and social responsibility in government procurement decisions. Women-owned businesses with environmentally friendly practices or social impact initiatives may be better positioned to win contracts, as government agencies increasingly factor these concerns into their decision-making processes. Howard suggests that businesses should consider participating in greenhouse gas emissions reporting or other voluntary environmental programs to differentiate themselves from competitors.
Overcoming Bias and Building a Legacy
While progress has been made, Howard acknowledges that challenges remain for women in government contracting. Gender bias persists in some areas, and women must continue to demonstrate their capabilities to gain equal recognition in the industry. However, Howard remains optimistic about the future, citing the increasing number of women assuming leadership roles both in government agencies and within contracting firms.
Howard’s success with HX5 serves as a powerful example for women entrepreneurs. Through her focus on integrity, professionalism, and continuous growth, she has built a thriving business in a male-dominated industry. Her advice for women entrepreneurs is not just theoretical; it’s based on her real-world experiences navigating and excelling in the competitive world of government contracting.
Margarita Howard’s journey is an inspiring one, offering practical lessons for women entrepreneurs looking to succeed in government contracting. Her focus on preparation, strategic networking, continuous learning, and resilience provides a clear roadmap for women aiming to carve out their own path in business.
With the right tools, resources, and mindset, women entrepreneurs can not only compete but thrive in the ever-evolving landscape of government contracting. Howard’s insights offer a valuable perspective for anyone looking to overcome obstacles and succeed in this challenging yet rewarding field.