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President Biden has proposed changes to federal purchasing that could benefit small, disadvantaged businesses. In this blog, we’ll outline what this could mean for SMEs, and help you prepare for the potential changes.
President Biden is set to increase federal contract spending on small, disadvantaged businesses by 50%. This means that 15% of federal contracts will go to disadvantaged businesses by 2025.
As well as this change, President Biden also hopes to increase transparency and hold leaders accountable for meeting these goals.
It is hoped that doing this will help bridge the gap between the federal government and SMEs. Also, the goal is to remove barriers from federal, state, and local government programs. As a result, it is hoped that more SMEs will get involved with federal contracting.
To address this procurement reform, the Procurement Technical Assistance Centers (PTACs) will be holding an event on May 23, 2022. The event is their first Annual Conference and Matchmaker, focused on the changes to federal purchasing.
Small, disadvantaged businesses will find out about these changes from a panel of speakers. However, there will also be opportunities for matchmaking with various agencies and contractors.
The event will cover three primary categories:
The deadline to register for the event is May 13th. However, the deadline for priority registration is April 29th.
Small, disadvantaged businesses are at least 51% owned by one or more socially or economically disadvantaged individuals.
The Small Business Administration (SBA) defines socially disadvantaged business owners as those who have been historically subjected to:
Economically disadvantaged individuals are defined as those with limited access to financial opportunities.
If you’re a small, disadvantaged business, you might be wondering what this means for you and how we can help.
As the procurement reform is encouraging SMEs to bid for government contracts, there could be more opportunities available. However, many small businesses have never bid for RFPs before and are hesitant to do so. Luckily for you, that’s where we come in!
At Hudson Succeed, we provide businesses with an outsourced approach to bid writing. Whether you’re looking for ad-hoc bid writing support, RFP guidance or anything in between. Our services are designed to help businesses of all sizes win their next bid.
President Biden hopes to make changes to federal purchasing that could benefit small, disadvantaged businesses. By 2025, President Biden hopes to increase spending with SMEs by 50%. This means that 15% of federal government contracts will go to small, disadvantaged businesses. Not only that, but the proposed changes include increasing transparency among public procurement, as well as holding leaders accountable.
As a result, there could be more opportunities for socially and economically disadvantaged businesses to bid for government contracts.
To address this procurement reform, the Procurement Technical Assistance Centers (PTACs) will be holding an event on May 23, 2022. Interested businesses can find out more about the changes from a panel of expert speakers.
Not got the time to write winning bid responses in-house? Don’t worry, our Bid Consultants can help. We provide three bid and RFP writing support services.
Our RFP Writing service is the perfect solution to ensure that you submit a high-quality bid, even when you’re busy. Our writers will break down the solicitation documents, allowing you to see what the bid and the contract involves. This will help to ensure that you have all the specified evidence and meet the requirements of the contracting authority.
Our RFP Writers will then craft persuasive, high-quality responses, attach supporting evidence and even submit the bid on your behalf. Upload the solicitation documents for a free quote.
Have you already written a bid but need a second pair of eyes to review your work? Our RFP Mentor service will do just that. Simply send over your bid responses and the solicitation documents.
Our writers will then assess your work, ensuring that your responses are in line with the specification. They will also check for any spelling or grammar errors. You can then submit your bid with confidence. Upload your work for a free quote.
Do you need help with preparing a bid proposal? Proposal Ready can help businesses that are new to bidding or those in need of rejuvenating their content.
Our Bid Consultants will create:
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