Government contracting is big business in the US. The Federal Government has mandated a goal that at least 23% of federal contracting dollars be spent with small business. Further, women owned small business should receive 5% of those contracts; Small Disadvantaged business should receive another 5% of those contracts and Service Disabled Veteran owned small business should receive another 3% of those contracts. In addition, every federal government contract that is between $3,500 and $150,000 is automatically and exclusively set aside for small business.
However, the difficulty of acquiring and then administering a federal government contract is legendary. Small business survives on cash flow, not profits, and when you hear horror stories about a small business waiting for 6-8 months for payment, every entrepreneur knows they cannot afford to finance the federal government while it takes its time processing paperwork and issuing payment.
However, there are other small-business-friendly GovCon opportunities. All of our local cities as well as Palm Beach County spend enormous sums of money each year with outside contractors. Nearly all cities have an outreach program to try to find small businesses who are qualified to do the work. Most also have small business contracting goals that they struggle to meet.
Today's guest, Frank Hayden, is the Procurement Director for the City of West Palm Beach and he is looking to find small businesses for his $170 million budget. This is a man on a mission and to meet his goal, he is organizing West Palm Beach "Open To Business" workshops to help small business owners understand all of the contracting opportunities available with his and other local cities.
FEATURED IN THIS EPISODE
Palm Beach SCORE
Palm Beach SCORE is a non-profit who's mission is helping local small businesses, startups and entrepreneurs grow and thrive by offering mentoring, workshops, business consulting and counseling services, networking opportunities, events and partnerships within the Palm Beach / South Florida business corridor.
SCORE-ing Your Business' host Penny Pompei serves as Chapter Chair for our local Palm Beach SCORE Chapter #224, located in beautiful downtown West Palm Beach.