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5 Tips to Grow Your SMB through Government Contracts

December 3, 2014
By Cindy Bates

On my way home from the office late last week I heard an interesting story on NPR about why women lag in winning government contracts. I paused to turn up the volume because the host was speaking about two of my favorite topics – successful women in business and unique business opportunities. While listening, I found one statistic particularly jarring: In the 20 years since the government set a goal of awarding five percent of federal contracts to women-owned small businesses, it has never met that goal.

I’ve met with countless SMB owners who have earned federal contracts and I know the impact it can give a business – opening doors, building connections and fast-tracking growth. The question is how can we help level the playing field for women who now comprise a third of all U.S. small business owners? Below, I’ve listed five practical tips to offer women a jumpstart on taking their businesses to the next level.

Start locally – Find the military bases and government agencies in your area and ask what products they’ve purchased before and who does the purchasing. Once you’ve made that determination, PTACs (Procurement Technical Assistance Centers) as well as SBDCs (Small Business Development Centers) are the best resources locally for all of the “How–Tos”.  (more…)