The Small Business Administration's Women's Procurement Program Rule could provide easier access to $500 billion worth of feral contracting opportunities.
By Julia L. Rogers
10/26, AOL Small Business Online
After being stalled for nearly 11 years, the Small Business Administration's Women's Procurement Program Rule was put into effect earlier this month - potentially providing easier access to $500 billion worth of federal contracting opportunities for women-owned businesses.
The new rule dictates that women-owned businesses must account for 5 percent of government contracts, up from the current 3.4 percent. Eligible businesses must be at least 51 percent owned and controlled by women who are U.S. citizens, to enjoy deals up to $3 million in many industries and up to $5 million in the manufacturing sector.
To read the full article... click here.
Showing posts with label government contracts. Show all posts
Showing posts with label government contracts. Show all posts
Monday, November 29, 2010
Sunday, October 24, 2010
Is This a Good Thing????
Small Business Administration redefines 'Small Business'
New size standards will now classify more than 18,000 additional businesses as "small business," making them eligible for SBA programs
By Lauren Drell
AOL Small Business
October 11, 2010
Small businesses are getting a little bigger, thanks to new size standards form the Small Business Administration. Effective November 5, 2010, the change will make nearly 18,000 more businesses across 70 industries, including retail and hospitality, eligible for SBA programs, including loans and help winning federal contracts.
SBA size standards vary by industry, and caps are typically set based on the number of employees or average annual receipts -- criteria that have been in place since 1984. This recent "comprehensive review" of size standards will at least double the cap on average annual receipts, taking them from $7 million to as much as $35.5 million.
The change is said to benefit car dealers most of all, as they represent nearly one-third of the 18,000 deemed "small businesses." Whereas the cap for car dealers used to be revenue based, the new rule hinges on the number of employees: 200 is the limit. About 90 percent of all car dealerships will now be considered small businesses, some with revenues up to $20 million, according to a report by The New York Times' You're the Boss blog.
"These increases in the size standards mean more of America's small businesses will be eligible for and can access the resources and services the SBA and other federal agencies have available," SBA Administrator Karen Mills said in a statement. The new size guidelines are aligned with current economic and industry indicators and are meant to ensure that small businesses have the tools they need to grow and create jobs, since small businesses have created 65 percent of all the new jobs in the past 17 years and employ half of America's private-sector workforce.
New size standards will now classify more than 18,000 additional businesses as "small business," making them eligible for SBA programs
By Lauren Drell
AOL Small Business
October 11, 2010
Small businesses are getting a little bigger, thanks to new size standards form the Small Business Administration. Effective November 5, 2010, the change will make nearly 18,000 more businesses across 70 industries, including retail and hospitality, eligible for SBA programs, including loans and help winning federal contracts.
SBA size standards vary by industry, and caps are typically set based on the number of employees or average annual receipts -- criteria that have been in place since 1984. This recent "comprehensive review" of size standards will at least double the cap on average annual receipts, taking them from $7 million to as much as $35.5 million.
The change is said to benefit car dealers most of all, as they represent nearly one-third of the 18,000 deemed "small businesses." Whereas the cap for car dealers used to be revenue based, the new rule hinges on the number of employees: 200 is the limit. About 90 percent of all car dealerships will now be considered small businesses, some with revenues up to $20 million, according to a report by The New York Times' You're the Boss blog.
"These increases in the size standards mean more of America's small businesses will be eligible for and can access the resources and services the SBA and other federal agencies have available," SBA Administrator Karen Mills said in a statement. The new size guidelines are aligned with current economic and industry indicators and are meant to ensure that small businesses have the tools they need to grow and create jobs, since small businesses have created 65 percent of all the new jobs in the past 17 years and employ half of America's private-sector workforce.
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