Mar 4, 2024
Small Business Grants for Women and Federal Contract Opportunities
Small business grants are ideal ways for small and medium-sized businesses and women-owned businesses to seek federal contract opportunities. The federal government has decided to award at least 5% of all its contracts to businesses owned by women every year. This program also offers a level playing field for women business owners. By awarding small business grants for women, the government aims to limit the competition for certain contracts to women-owned small businesses. Benefits of the Women-Owned Small Business Federal Contract Program Women own more than 33.2 million small businesses in the United States. Though these businesses prove significant economic growth, the women-owned businesses get only 2.1% of the venture capital funding in the US. There are several advantages of small business grants for women, and they are as follows. Small Business Grants are Available for Women Entrepreneurs As more and more women are jumping into entrepreneurship, there is an increasing need for funding and supporting women-owned businesses. Some of the federal small business grants for women are as follows. Women entrepreneurs thus have many grant options at both the state and federal levels to aspire female entrepreneurs to help them find a suitable grant that aligns perfectly with their […]
Feb 26, 2024
Federal Contracts for Minority-Owned Small Businesses through Set-Aside Opportunities
To render a level business field for small businesses, the government offers certain concessions in important contracts to small businesses. It does this by limiting competition in these contracts, which are also known as small business set-asides. These contracts help minority-owned businesses to compete and win federal contracts. Federal Contracts for Minority-Owned Small Businesses The Federal government has been establishing formal goals for small businesses to enjoy a fair share of work. It is worth knowing that every purchase by the Federal government between $10,000 and $250,00 has been set aside automatically for small businesses, as long as two companies offer products and services at a very fair and reasonable price. The businesses that qualify for this special concession by the Federal Government are as follows. Women-Owned Small Businesses In these businesses, about 51% or more of the businesses are owned and controlled by one or more women who are citizens of the United States. The size of the business should also be small and be by the SBA size standards. Small Disadvantaged Businesses These businesses are also known as 8(a) small businesses, and they should be a small business and should not have participated in the 8 (a) program […]
Feb 16, 2024
How the VBOC Program Supports Veterans and Military Families in Small Business Success
The VBOC, or the Veterans Business Outreach Center, offers resources to veterans, service members, and spouses of military personnel who are interested in starting their businesses. The program is designed to offer entrepreneurial developmental services such as business training, partner referrals, business counseling, etc, to the veterans, service members, and family members who are interested in either starting or growing their businesses. How does the VBOC program help the small business? The Veterans Business Outreach Center assists small businesses in several ways. The VBOC from the Small Business Administration offers counseling, training, and mentorship opportunities available in the locality. The VBOCs also help small business owners navigate the extensive resource partner network of the small business administration. Through this, it is possible to refer the program to a lender or community partner. Other ways by which the VBOC program helps small businesses are as follows. Transition assistance programs: The Veterans Business Outreach Centers will work in close liaison with the SBA district offices and the transition service managers to conduct business classes for both the service members and the spouses of military personnel. The VBOCs will also conduct the business-to-business reboot classes for veterans of all periods, along with the […]