Author: Dona Basu

The business landscape has changed dramatically in the last decade. One thing that has always remained constant, the United States Federal Government is one the largest and most powerful consumers of goods and services in the whole world. Being a government contractor is a highly desired position for any business. What does this mean for small businesses who want to be government contractors? The Federal government is also required to set aside a certain amount of contracts for small businesses. At least 23 percent of government contracts will be awarded to small businesses this year. What qualifies as a small business for government contracting purposes? In order to be considered a small business, a company has to meet the following requirements: A business must meet small business size standards. Part of a business must be within the U.S. A business must operate mainly within the U.S. or make a significant contribution to the U.S. economy through the payment of taxes or the use of American products, materials, or labor. A business must be independently owned and operated. A business cannot be dominant in its field on a national basis. How do I know that being a government contractor is right for my company? There is very little certainty in business. Having a powerful client that is known for paying its bills on time, like our Federal Government, is a great asset. Also, many of your competitors might be dismissing the idea of being a government contractor as being too much trouble. This means that there could be surprisingly little competition in some spaces. Their shortsightedness can be your company’s advantage. Are you a disadvantaged or a minority business owner and are interested in government contracting? There were certain groups that have experienced discrimination in the past that were not related to their individual qualifications. This discrimination kept them from participating in the free market because they did not have access to capital. In response, the Federal government tries to award contracts to businesses that are at least fifty one percent owned by those from disadvantaged groups. Competitive 8(a) The 8(a) Business Development Program reserves federal contracts for competition among small businesses owned by socially and economically disadvantaged person(s). To qualify a business must meet the following criteria: To be eligible for the Competitive 8(a) program: A business must meet small business size standards. At least 51 percent of a business must be owned by U.S. citizens. The business officers must show good character. The business must demonstrate the potential for success. There are separate eligibility requirements for businesses owned by American Indians, Native Alaskans, Native Hawaiians or Certified Development Companies.  At least 51 percent of a business must be owned, controlled, and managed by one or more person(s) who meet the SBA requirements for being socially disadvantaged and economically disadvantaged. The federal government reserves contracts for competition among small businesses owned by economically disadvantaged women. The contracts must be in industries where women-owned businesses are underrepresented. Businesses certify for EDWOSB status through the SBA. To be eligible for EDWOSB status: Economically Disadvantaged Woman-Owned Small Business (EDWOSB) A business must meet small business size standards. Women must manage day-to-day operations and make long-term decisions. A woman must hold the highest officer position and work at the business full-time during normal working hours. At least 51 percent of your business must be owned by one or more economically disadvantaged women who are U.S. citizens. To qualify as economically disadvantaged through the EDWOSB program, a woman must meet these requirements: Have a personal net worth of $750,000 or less. The fair market value of all assets must be $6 million or less. Have an adjusted gross yearly income (averaged over the three years prior to the certification) less than $350,000.  There are also programs for veterans, Native Americans, and other disadvantaged groups. What is the SAM Directory? SAM stands for System Award Management. In order to do any business with the federal government, you must register your business in the System for Award Management. The government will not hire any type of business that has not registered in the SAM directory. We have an article on our site, Everything You Need to Know About SAM for Small Businesses, that gives you important information about this process. As a smart entrepreneur, you have already used our site to register in the SAM directory. Congratulations on taking this important first step to become a government contractor. Now that I am in the SAM directory, where do I find Federal government contracting jobs? The following are some places where you can find federal contracting opportunities: Search for the Contracting Opportunity Finder. It’s geared to businesses new to federal contracting. Sign up for notifications from and search the FedBizOpps database of federal contracting opportunities. Become part of the General Services Administration (GSA) Schedules Program. Find contracts through individual agencies’ Offices of Small and Disadvantaged Business Utilization. Become a subcontractor by working for another company that already has a contract with the federal government.  This is a good way to introduce your company to a contract with the government and to build a track record of success. Make sure your NAICS number is up to date and correct. What is a NAICS number? NAICS is a six-digit code that stands for the North American Industry Classification System. Many federal agencies post contracting opportunities using the NAICS codes. The NAICS is used as an internal reference that quickly describes what a business does. You want to make sure you have the correct NAICS number to qualify for as many contracting opportunities as possible. The Bidding Process for government contracting. Now that you met the needed requirements for being a Federal contractor, you are ready to submit bids. Make sure you are responding to solicitations and not pre solicitations. Pre solicitations are only requests for information and might not lead to an actual job. Carefully go through all the paperwork and follow directions. You want to make sure your bid is not thrown out for inaccuracy or failing to provide important data. Now that you… Continue reading Everything You Need to Know About Being a Government Contractor

Women Should Be Aware of Government Opportunities. In the modern age, women have a unique opportunity to be the masters of their own destinies. Numerous smart and ambitious women are becoming entrepreneurs and running their own companies. However, many women are intimidated by the daunting process of being a government contractor The following statistic supports the power of women: More than 11.6 million firms are owned by women, employing nearly 9 million people, and generating $1.7 trillion in sales as of 2017. Women-owned firms (51% or more) account for 39% of all privately held firms and contribute 8% of employment and 4.2% of revenues. The government is required to set aside a certain percentage of contracts for Women-Owned Small Businesses At least five percent of government contracts have to be awarded to women-owned small businesses. In order to qualify for these set-asides a business must have the following: Meet small business size standard for primary NAICS code and contract At least 51% unconditionally and directly owned by women who are U.S. citizens* The woman must manage the day-to-day operations The woman must make long-term decisions for the business A woman must hold the highest officer position The woman must work at the business full-time during normal working hours No minimum amount of time the business has been operational To qualify as economically disadvantaged through the EDWOSB program, a woman must meet these requirements: Have a personal net worth of $750,000 or less. The fair market value of all assets must be $6 million or less. Have an adjusted gross yearly income (averaged over the three years prior to the certification) less than $350,000.  What qualifies as a small business? In order to be considered a small business, a company has to meet the following requirements: A business must meet small business size standards. Part of a business must be within the U.S. A business must operate mainly within the U.S. or make a significant contribution to the U.S. economy through the payment of taxes or the use of American products, materials, or labor. A business must be independently owned and operated. A business cannot be dominant in its field on a national basis. The first thing a small business must do in order to qualify for government contracts is to register with the SAM Directory. What is the SAM Directory? SAM stands for System Award Management. In order to do any business with the federal government, you must register your business in the System for Award Management. The government will not hire any type of business that has not registered in the SAM directory. We have an article on our site, Everything You Need to Know About SAM for Small Businesses, that gives you important information about this process. Luckily our site takes this headache off your hands. You can leave this important step to the experts at https://www.sam.directory so you can concentrate on more important matters. The best part is once you register, you will no longer have to keep reentering important information every time you apply for a new government opportunity. You will need a DUNS number. You’ll also need a D&B D-U-N-S® Number, which is a unique nine-character identification number issued to your business. You can register for your D-U-N-S Number free of charge by calling 1-866-705-5711 or by visiting Dun & Bradstreet’s Government D-U-N-S Number registration page. Registering in the SAM Directory also gives you access to government grants. Government grants are alike free money from the government that you do not have to pay back. You have to register in SAM before you can apply for Federal Grants. For example, here is a listing for the best government grants for women: Grants.gov National Association for the Self-Employed Growth Grants Eileen Fisher Women-Owned Business Grant Program Amber Grant IdeaCafe Grant #GIRLBOSS Foundation Grant Cartier Women’s Initiative Award GrantsforWomen.org FedEx Small Business Grant Read our article, Government Grants, A Guide to Free Money! to find out more about how registering for SAM can help provide great funding opportunities for your business. Make sure you receive certification. To be eligible to compete for woman-owned small business set-asides or receive sole-source awards, you must either be certified by a Small Business Administration (SBA) approved Third-Party Certifier (TPC), OR self-certify in accordance with current SBA regulations. There are currently four SBA-approved TPCs. They are:        El Paso Hispanic Chamber of Commerce        National Women Business Owners Corporation        US Women’s Chamber of Commerce        Women’s Business Enterprise National Council (WBENC) You can learn more about the requirements for the government’s woman-owned small business certification requirements on the SBA’s website. Prove how you stand out from the crowd. The United States Federal Government is one of the most powerful consumers of goods and services in the world. They are an extremely fantastic client for any business to have. Be organized. Have all of your documents in order and ready for inspection. Luckily, there are a lot of software programs out there that can make sure everything is available at the touch of a finger. Prove your responsibility. Nothing shows reliability like your business being able to have an excellent credit score. The government is working with taxpayers’ dollars and they want to be secure that you are trustworthy. Make sure all your finances are in good order. Read Directions! Sometimes you really did learn all you need to know in elementary school. When a government issues a request for proposals they often have very specific directions for what needs to be submitted. Missing information or not filling out a document properly can be immediate grounds for rejection. You can also use this precision as a business tool to help you determine whether or not your company is equipped to handle the scope of the project. You have totally got this! Always remember how amazing you are and how much you have accomplished in your life. You can move mountains if you put your mind to it and being a government contractor is a pathway to business success. Your business also has https://www.sam.directory to help make some of… Continue reading How Women Can Get Government Contracts

What is a Government Grant? A government grant is a financial award given by the federal, state or local government authority for a beneficial project of some sort. It is effectively a gift: It does not include technical assistance or other financial assistance, such as a loan or loan guarantee, an interest rate subsidy, direct appropriation, or revenue sharing. The grantee is not expected to repay the money. Why is the government giving away free money? Innovation Innovation and ingenuity are important to any society. For any economy to be competitive in the modern world, the government must make sure to open up avenues to grow and nurture new businesses. To put it simply, the government gives out grants because it serves the greater good by helping meet the needs of the people. Government Grants are a great way to even the playing field. We have all heard stories about great entrepreneurs with relatively humble beginnings. Grants are in place because few people have the capital to start a business without some assistance. This is particularly true for minorities and women who might have faced discrimination in the past that hindered them from pursuing their business goals. Government grants for Women For example, here is a listing for the best government grants for women: Grants.gov National Association for the Self-Employed Growth Grants Eileen Fisher Women-Owned Business Grant Program Amber Grant IdeaCafe Grant #GIRLBOSS Foundation Grant Cartier Women’s Initiative Award GrantsforWomen.org FedEx Small Business Grant Is it difficult to obtain a Government Grant? Make sure you have the correct information. In truth, grants can be very competitive. It is important to read instructions so that you can thoroughly understand the application process. You do not want your grant application to be thrown out because you did not provide the correct paperwork or information. Be aware of deadlines A small business should also be aware of deadlines. Make sure that things are properly submitted on time. Also, be vigilant about finding out what is available so you do not miss an important government grant opportunity. Please do not let a challenging application dissuade you from trying to qualify for grants. There is nothing truer than the saying about never making any of the shots you don’t take. Some websites can help you through the process. The First Steps to getting government grants. For example, the following are the steps to apply for a federal grant: Step 1: Obtain a DUNS Number Step 2: Register with SAM Step 3: Register with Grants.gov What is the SAM Directory? SAM stands for Systems Award Management. How do I register for SAM? You might be wondering how do you register in SAM. Let sam. directory makes this as easy as possible by supplying you with experts who can register for you. Be sure to also check out our informative article Everything A Small Business Needs to Know About the SAM Directory, which should easily answer most of your questions. What are some examples of government grants for Small Businesses? The Small Business Innovation Research (SBIR) encourages small businesses in the United States to engage in research and development that has economic potential. SBIR Mission Their website states their mission of the is to support scientific excellence and technological innovation through the investment of Federal research funds in critical American priorities to build a strong national economy. SBIR Goals The program’s goals are four-fold: Stimulate technological innovation. Meet Federal research and development needs. Foster and encourage participation in innovation and entrepreneurship by women and socially or economically disadvantaged persons. Increase private-sector commercialization of innovations derived from Federal research and development funding Program Participants The following are a list of agencies that participate in the SBIR program: Department of Agriculture Department of Commerce – National Institute of Standards and Technology Department of Commerce – National Oceanic and Atmospheric Administration Department of Defense Department of Education Department of Energy Department of Health and Human Services Department of Homeland Security Department of Transportation Environmental Protection Agency National Aeronautics and Space Administration National Science Foundation The Small Business Technology Transfer (STTR) is another program that expands funding opportunities in the federal innovation research and development (R&D) arena. STTR Mission The mission of the STTR program is to support scientific excellence and technological innovation through the investment of Federal research funds in critical American priorities to build a strong national economy. STTR Goals The programs’ goals are to: Stimulate technological innovation. Foster technology transfer through cooperative R&D between small businesses and research institutions. Increase private-sector commercialization of innovations derived from federal R&D. STTR Program Participants Participating government agencies include the following: Department of Defense Department of Energy Department of Health and Human Services National Aeronautics and Space Administration National Science Foundation These are some great opportunities at the federal level for any small business. Do not forget about State and Local Grants. State Grants State grants are often geared to that particular state’s economic concerns. They are often supposed to work in tandem with federal grants but can be much less competitive. Go to Grants.gov to get a complete listing of what is offered in your state. Local Grants Also, remember to investigate your local municipal governments. Do a deep dive into your community to find out what is available. Again, every little bit helps and sometimes money is left on the table because people are unaware of what is out there on a local level. When applying for a grant, think about what you are doing for the community. What are you bringing to the table? Does your business model further the altruistic goals? For example, if you are part of a small community of at least 50,000 people, you could qualify for a Rural Business Development Grant The government is always looking to nurture innovation in Rural Areas These websites describe their program as a competitive grant designed to support targeted technical assistance, training and other activities leading to the development or expansion of small and emerging private businesses… Continue reading Government Grants, A Guide to Free Money!