Navigating the government contracting landscape can be complex, but understanding the steps to find opportunities at federal, state, and local levels can significantly benefit your small business. This guide provides a detailed, step-by-step approach to discovering and securing government contracts, ensuring you can effectively pursue and capitalize on available opportunities.
70% increase in eligible industries will expand contract opportunities for certified women owned businesses.
As we wrap up National Women’s Month, let’s review the program designed to level the playing field for women business owners. The government limits competition for certain contracts to businesses that participate in the Women-Owned Small Business (WOSB) Federal Contracting program. This program facilitates contracts for specific industries where WOSBs are underrepresented. Some contracts are restricted further to economically disadvantaged women-owned small businesses (EDWOSBs).
In June 2021, the Biden administration announced its plans to increase the percentage of Small Business contracting by 50% over the next 5 years. To meet this goal, the administration has proposed $30B in new SBA initiatives that would reduce barriers to small business ownership and success. The new SBA initiatives will focus on increasing access to capital with new direct loans to small businesses,
We are now in the period during which agencies become sharply aware that they need to deploy any remaining budget before the end of the fiscal year or risk losing that funding in the following year. During this period, Federal agencies have historically committed approximately 31% of all contracting dollars. Government contracting officers will be looking for qualified contractors to provide needed products and services.
The Biden administration has announced a new initiative of "increasing the share of contracts going to small disadvantaged businesses by 50 percent by 2026 - translating to an additional $100 billion to small disadvantaged businesses (SDBs) over the 5 year period." These plans were announced on June 1, 2021, the 100 year anniversary of the Black Wall Street massacre in Tulsa, Ok.
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Only 22% of federal contracting dollars are awarded to small businesses. Our goal is to be an agent of change by helping businesses owned by women, minorities, and veterans to get their fair share of the opportunities in the government market.
