Any guesses on what the number above represents? Just in case you don't work with numbers this big in your business every day, I'll translate, it's 3 TRLLION, 456 BILLION, 210 MILLION Dollars! I think we can all agree that it's a boatload of money, but what that dollar amount represents is the US Government's spending in 2010. Yup. $3.456 Trillion were spent by the US Government last year. And, for the skeptics out there, not all of it was on Defense, Welfare and Social Security. Those categories did comprise $2.056 Trillion of the total spend, but folks, that still leaves $1.4 Trillion for the other sectors. Government Spending details - http://www.usgovernmentspending.com/classic.html?year=2010
Healthcare, especially senior care, had massive spending as did Transportation. That's great news for businesses that support those functions, i.e. Senior Centers, Adult Daycares, Transportation & Logistics companies, as well as companies involved in road construction. You all win big!
Now, don't get discouraged if you aren't in those sectors. The federal government buys EVERYTHING! Your business - the niche you've chosen - has a NAICS code attached, you just need to figure out which government agencies are buying what you are selling and you're halfway there. One resource for you to consider researching is the Federal Procurement Data System - Next Generation. There you can research which government agencies are buying what you are selling. If you also do the other half - get the certifications available to level the playing field for small businesses - then ladies and gentlemen… You are now cooking with heat!
Congress has established a goal of awarding 23% of federal prime contracting and subcontracting dollars to small businesses. In addition, 5% of that is set-aside for Women-Owned Small Business and 3% for Service Disabled Veteran-Owned Small Business. So by getting properly certified as a Small, Woman-owned or Veteran-owned Business Enterprise via the many certifications available, you can then compete for contracts amongst other "small businesses" as opposed to playing with the big dogs.
$322,000,000,000.00
There's another number for you. Granted it's smaller than the first, but this number represents 23% of the $1.4 Trillion we determined was left from above. How much is it worth to you to get a piece of that action? If you've not looked into Women, Minority or Small Business certifications, I recommend you start your research. The SBA has a plethora of resources online and your local Small Business Development Centers have advisors who can help.
Author Resource:-
Myra Cisse is the founder of 8aTheEasyWay.com, her company assists women and minority business owners obtain certifications necessary to compete in the federal marketplace. To get your Free CD and White Paper and to receive informative weekly articles answering the most pressing questions about Women and Minority certifications, like us at facebook.com/8atheeasyway
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