Did you know?

Below are a few of the facts about Government Contracts and Federal Spending:

▪ The U.S. Government is the largest company in the world. Approximately $1 billion in new opportunities in the services sector of Government contracting were available to bid on by private business each day.

▪ The federal government signs over 11 million contracts a year.

▪ About 95% of federal contracts are awarded to small- and medium-sized business vendors.

▪ On the average, there are 2,000 to 5,000 new government contracting opportunities available each day in all industry categories.

▪ A Small Business Set-Aside Program (SBSA) was developed to help assure that small businesses are awarded a fair proportion of government contracts by reserving certain government purchases exclusively for participation by small business concerns.

▪ Any contract that has an anticipated dollar value between $2,500 and $100,000 in value is reserved for small, small disadvantaged, woman-owned, and small veteran-owned businesses.

▪ The Small Business Association (SBA) administers a business assistance programs for small disadvantaged businesses called Program 8(a) which helps small businesses compete in the American economy and access the federal procurement market

▪ Less than 5% of the businesses in the United States do business with the U.S. Government.

▪ America's 9.1 million women-owned businesses employ 27.5 million people and contribute $3.6 trillion to the economy.

▪ Minority-owned business have nearly doubled in the past two decades. A report from the Office of Advocacy of the U.S. Small Business Administration shows that minorities own nearly 15 percent of American businesses.

▪ Government procure services range from Food Services and Janitorial projects to complex space flight systems development.