Women in boardrooms / female owned businesses
One way to assess the extent of spend going to female led businesses is to apportion contract value to the female:male leadership ratio.
Take a Cleaning Company
Its board has 5 members, 1 of whom is a woman
This means it is 20% female led
They win a contract of $1,000,000
$200,000 of the contract spend can be said to go to women-led.
This logic also extends to women owned businesses.
Take a Tech Company
It has 3 people listed as beneficial owners
1 is a man, 2 are women
This means it is 33% female owned
They win a contract of $300,000
$200,000 of the contract spend can be said to go to women-owned businesses
By adopting this approach, contract spend going to women-owned and women-led businesses can be aggregated and viewed from a high level perspective. Companies can also be benchmarked against each other, especially larger ones who win multiple public contracts.