Sunday, December 4, 2022

Get federal contracts for your small business

Get federal contracts for your small business

Get federal contracts for your small business

The United States Federal Government spends more than $600 billion each year purchasing goods and services from the private sector. The federal government is the world's largest consumer of goods and services and advanced technology systems. The government buys a variety of products and services in almost every category. The federal government spends billions of dollars a year on training and development, information technology, telecommunications products, law enforcement, fire safety, management consulting, medical services, environmental services, among others.

Are there real federal opportunities for your small business? I can't tell you for sure if it does, but I can tell you that federal policy actively encourages agencies to give procurement preferences to small, small disadvantaged, and women-owned businesses by setting annual procurement goals. The huge federal market offers potentially lucrative business opportunities.

The Small Business Administration negotiates annual procurement goals with each agency to ensure that small, minority-owned, and women's businesses get their fair share of federal procurement contracts.

Example Federal Procurement Contract Award Goals for Fiscal Year 2005

 23 percent of major contracts for small businesses

 5 percent prime contracts and subcontracts for small disadvantaged businesses

 5 percent of primary contracts and subcontracts for women-owned businesses

 3 percent of HubZone small business prime and subcontracts

 3 percent of prime contracts and subcontracts for service-disabled veteran-owned businesses

Under the Small Business Act, all federal government contracts under $100,000 must be directed to small, small disadvantaged, small women-owned, and small service disabled.

own companies. This federal law creates very distinct marketing advantages and business opportunities for small, minority-owned, and women's businesses seeking to do business with the federal government.

The Federal Government provides small businesses with procurement resources within the Offices of Federal Agencies and Specialized Programs.

Here are some of the procurement resources for small businesses:

 Offices of Small and Disadvantaged Business Utilization (OSDU) within federal agencies are responsible for promoting the use of small, small disadvantaged, and special status businesses.

 The Small Business Administration's Office of Government Contracts administers programs and services designed to help small businesses meet the requirements necessary to compete for and receive contracts.

 The Mentor-Protégé program is designed to encourage federal prime contractors to form a partnership and provide technical assistance to Small Business Administration-certified small businesses owned by women, disadvantaged small businesses, and veteran-owned and controlled small businesses disabled in service.

 is an online portal for women-owned businesses seeking to do business with the federal government.

 Minority Business Development Agency, part of the US Department of Commerce, provides assistance to minority-owned businesses.

The federal government is an important and growing market. With more than 2,500 buying offices nationwide and expanding budgets, buyers expect to hear from your small business. The financial rewards are well worth the time and efforts. Don't sit on the sidelines to recession-proof your small business and start marketing your products and services to the federal government. Get your slice of the $600 billion federal contracting pie.