Jan 12, 2024
What’s New for Small Businesses Trends in 2024 Federal Contracts
Small Businesses Trends – The best way for small businesses to grow and earn is to take up federal contracts. Amidst the increasing competition in the business world, one great way for businesses to have a stance ahead of their competitors is to make use of federal contracts. Taking up these contacts will also help them to stay abreast of the market. It will make these businesses adapt to new tools and seek a cutting edge over the competition. The digital revolution introduction of artificial intelligence, and budget uncertainty are shaping small business contracting into an exciting arena for SMBs. Let us discuss the new trends for small businesses concerning federal contracts in the year 2024. Small businesses trends to look forward to in 2024 As a new year has begun, owners of small businesses should start planning for their budgets and contracts for the year 2024. Though it is not easy to predict what the future holds, there is a tremendous opportunity for small business owners to stay prepared for the opportunities in the days ahead. The following are the key business strategies that small businesses should watch for in the new year. 1. Get accustomed to artificial intelligence […]
Jan 1, 2024
Your Partner in Boosting Small Businesses through Set-Aside Contracts
The good news for all the small businesses out there is that the federal government sets aside certain contracts and projects for businesses that women and underprivileged stakeholders run. Contractors and business owners who are interested in pursuing these federal contracts can make fair use of these Government contracts. They can take help from federal contractors like MySetAside to avail these contracts and build their business to a great new level. Before the company can avail of these projects, they must get an official certification or award stating their underprivileged status. The set-aside contractor will help in getting these certifications as well. Types of small businesses set-asides The ultimate aim of the SBA or the small business administration program is to help owners of small businesses with an equal foot with that of large companies by helping them bid on government contracts. In order to avail these small businesses of set-aside projects, it is important for the business to exist for a minimum of two years and also have a net worth of about $250,000. There are many different types of small business set-aside projects, and they are as follows. In order to qualify for this program, a business should […]
Dec 19, 2023
8(a) Program Explained: Turbocharge Your Small Business Growth
The 8 (a) Business Development program is basically a business assistance program for small and disadvantaged businesses. This program offers tremendous assistance to firms that are controlled and owned by at least 51% of the individuals from economically disadvantaged backgrounds. Focus of 8(a) program The 8(a) is seen as an important tool that helps entrepreneurs with social and economic disadvantages to seek access to the economic mainstream of the US society. It is with the help of this special program that aspiring entrepreneurs are able to gain a positive foothold in government contracts. The major focus of the program is to provide business development support in major areas such as mentoring, business counseling, procurement assistance, financial assistance, training, and other management and technical assistance. Benefits of the program Small businesses can participate in the 8 (a) business development program in two phases over a period of nine years. The first four years are referred to as the developmental stage, and the next five years are referred to as the transition stage. There are a number of benefits for businesses participating in the 8 (a) business development program. They are as follows. How does the 8(a) program turbocharge the business development […]