Quite the contrary. The government acknowledges the importance of working with small, disadvantaged businesses and considers them the key to a successful community. One way your small, disadvantaged business can stand out is by acquiring additional certifications that allow you to compete for set-aside contracts. Set-aside contracts are exclusively awarded to small businesses to help level the playing field and protect against fraud and favoritism.
Each year the amount of money awarded directly to small businesses rises, with $158.7 billion awarded last year. According to the SBA (Small Business Administration), all federal government contracts valued between $10,000 and $250,000 are automatically set aside for small, disadvantaged businesses. To be qualified, your business must be at least 51% minority owned with a net worth of less than $1.32 million. Some socio-economic specific categories you can get certified in are:
The latest Infrastructure Deal includes increasing contracting opportunities to small and disadvantaged businesses by 50% over the next five years. This not only helps small businesses navigate the procurement process through events and workshops, but also increases set-aside contracts to be filled exclusively by SBE (Small Business Enterprise) certified businesses. Now, more than ever, it is recommended to get your SBE certification.
If you are at least 51% owned and operated in Canada and are at least 51% minority owned, it is recommended to get your certification. Canada budgets $20-$25 billion to small, diverse, or disadvantaged businesses each year! There are many not-for-profit organizations that want to see small businesses succeed with government contracts. Listed below are some organizations that can help you with your certification process:
The best way to get started finding business opportunities is to subscribe to a bid notification system like Periscope S2G. Just one contract awarded to your small business can help to establish consistent cash flow and boost your credibility for future success. As much as your business is looking for these set-aside contracts, government procurement personnel are looking for your business! Your SBE qualification is a great asset for your business to help you win more government contracts and build entrepreneurial spirit. Start looking for set-aside contracts for your company with Periscope S2G today. You can call us at 800-990-9339 or email us at S2G@mdfcommerce.com.