If you own a small business, you can possibly get a portion of government money earmarked for small business. Under a mandate put in place in 1958, the Small Business Administration (SBA) is obligated to ensure nearly a quarter of all Federal government contracts go to small businesses.
In a recent article that I wrote for Dun & Bradstreet Credibility Report, I point out the fact that the SBA has been missing it’s goal of getting this money to small businesses since 2005. While there is a discrepancy as to how much they are missing it by, the fact remains that this shortfall has been exposed and that the attention that has been called to this mandate is going to open opportunities for small businesses.
If you are looking to take advantage and possibly secure a piece of the pie that they need to distribute, I offer four tips that you should follow:
- Study the regulations
- Find opportunities specific to your industry
- Create a profile on the System for Award Management (SAM)
- Look for minority opportunities
For an explanation of each of these tips, you can read the full article on the D&B website here. You can also follow D&B on twitter at @DandB.