Ying McGuire’s Post

Exciting news! The SBA has announced the launch of a revamped program aimed at supporting Black-owned businesses in securing funding and federal contracts. Administrator Guzman highlighted the importance of this initiative in leveling the playing field and promoting equity. The enhanced 'Empower to Grow' acceleration program offers tailored 1:1 training, a three-month government contracting program, and a federal contractor master class. These enhancements aim to increase competition, innovation, and performance in the federal marketplace, while addressing disparities in procurement for minority-owned businesses. Learn more about how this program can empower your business to succeed! #SmallBusiness #Empowerment #GovernmentContracts #SBA https://lnkd.in/eSK7PQ_Q

Excerpt: Pennsylvania Gov. Josh Shapiro signed an executive order Tuesday to increase opportunities for small and small diverse businesses to compete for state contracts, make the Commonwealth procurement process more accessible, and take steps to help small businesses and small diverse businesses grow, succeed, and create good-paying jobs. #BusinessNews #SmallBusinesses #PhillyBusinesses #PhillyEntrepreneurs #PennsylvaniaNews #PennsylvaniaBusinesses

Big news for small businesses: In FY23, the federal government exceeded its Small Disadvantaged Business contracting goal for the second consecutive year, awarding these businesses 12.1% of federal contracts, totaling a record-breaking $76.2 billion! Learn about recent reforms to level the playing field for all contracting entrepreneurs through a more equitable federal procurement system and buying strategy: https://lnkd.in/eTPmsdvE

12 percent SDB! Yesterday, the President announced that the Federal government spent $76 billion, 12.1% of Federal contracting dollars, in 2023 with small disadvantaged businesses. Those are all-time records and up considerably from the year before ($69.9 billion, 11.4%). Why the big jump? You'll have to wait for the next release of SBA's Small Business Datahub, datahub.certify.sba.gov, for full details. But a lot of it came from government buyers spending MORE through the 8(a) program. All 8(a) firms are considered disadvantaged, so all 8(a) contracts count toward the SDB goal. Reaching 12% is a good sign for the 8(a) program going forward.

This is certainly a move in the right direction to help strengthen America’s small businesses in federal contracting. It is important to know though that the statistics show an increase in total dollar amounts awarded to SDB’s but a continued decrease in the overall number of small businesses in federal contracting over the last several years. I would like to see the overall number of small businesses improve as well. I am also curious how many of the self-certified SDB’s really are SDB though? I see contractors bid on jobs dedicated for SDB’s knowing they do not meet the criteria but they self-certify anyway. People are worried about WOSB or SBVOSB fraud but I suspect SDB will have its turn in in the spotlight within a few years. Maybe the SBA will do away with self-certification for SDB’s? #federalcontracting #sbvosb #wosb #hubzone #8a #smallbusiness

The Montgomery County Office of Procurement’s recently released Fiscal Year 2023 (FY23) annual reports for the Minority, Female and Disabled-Owned Business Program (MFD) and the Local Small Business Reserve Program (LSBRP) showed record funding for both groups. In FY23, the County awarded $246,374,095 in contracts with certified MFD businesses. The amount represented 22.6 percent of eligible dollars and the highest dollar amount for MFD firms since the program began more than 25 years ago. In FY23, the County awarded $305 million in contracts with certified LSBRP businesses. The amount represented 31.3 percent of eligible dollars. This is the highest dollar amount spent with local small businesses since the program began in 2009 as well as the highest percentage spend.  Read more at: https://lnkd.in/d6_z2R5F

ADVANCING EQUITY THROUGH DIRECT CONTRACTS & STRATEGIES FOR MINORITY OWNED BUSINESSES According to the 2023 Small Business Participation Purchasing Report, while small business registrations in Washington State’s procurement system, WEBS, have steadily grown—reaching 43% in 2022—the percentage of contracts awarded to small businesses has remained flat at around 35% since 2017. This plateau highlights the need for strategies that help minority-owned businesses not only register but also actively win contracts and stand out in the competitive procurement space. Despite policies designed to promote equity, many businesses still face significant barriers to accessing state contracts. Washington State's Direct Buy Policy, for example, allows agencies to make purchases without a competitive solicitation process for contracts up to $40,000 if the vendor is a small or veteran-owned business. However, with the right strategies, minority-owned businesses can position themselves to secure state contracts and thrive in this competitive space.

Government contracting plays a crucial role in promoting the growth of small businesses across the United States. 👨🏽💼👩🏽💼 Recognizing the importance of small businesses to the economy, the Federal Acquisition Regulation (FAR) dedicates an entire section—Part 19: Small Business Programs—to establishing policies that ensure small businesses have a fair opportunity to compete for federal contracts. This part of the FAR outlines the various programs and mechanisms through which the government supports small business participation, fostering diversity, innovation, and economic growth in the procurement landscape. 👇🏼 🔗 https://ow.ly/LeOX50TQ565 #TheFAR #FederalAcquisitionRegulation #FederalContracting #SmallBusiness #SmallBiz #SmallBusinessOwner

Government contracting plays a crucial role in promoting the growth of small businesses across the United States. 📈 Recognizing the importance of small businesses to the economy, the Federal Acquisition Regulation (FAR) dedicates an entire section—Part 19: Small Business Programs—to establishing policies that ensure small businesses have a fair opportunity to compete for federal contracts. 🤝 This part of the FAR outlines the various programs and mechanisms through which the government supports small business participation, fostering diversity, innovation, and economic growth in the procurement landscape. 👇🏽 🔗 https://ow.ly/Pn6Q50TUppS #TheFar #FederalAcqusitionRegulation #GovCon #SmallBusiness #SmallBiz

Did you hear about the government’s new guidance towards awarding 15% of federal contracts to small businesses and minority business enterprises (MBEs) by fiscal year 2025? This means we can expect more opportunities for small businesses and MBEs within the next 24 months. Read the article for more details.