62 U.S. V T RANS MAGAZ N WWW.USVETERANSMAGAZINE.COM
VOBs & SUPPLIER DIVERSITY
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overnment contracts offer !!! opportunity for veteran- owned small businesses. The U.S. government is the largest customer in the world - it buys all types of products and services, and it's required by law to consider buying from small businesses. Selling to the government can provide your veteran- owned small business with a new revenue channel. Still, government contracting can be complex, and it's important to learn how to best position your business in the federal marketplace. So, where should you start?
The ABCs of Government 0 .n
First, let's discuss the basics. Government
Government Contracting for Your Veteran-Owned Small Business
contracting is selling your goods or services to and for use by the government. The process generally starts with procurement, where an agency !!!! determines the best method for purchasing services. Once !!!! and the agency has determined which company to use to outsource its needs, it begins the acquisition process by awarding the contract.
0 What are they? Do I need to !!5!!!! know is that the government !!!! aside guidelines - meaning there's a certain percentage of business set aside for different types of companies. Although !!! is not necessary for day-to- day operations, it is highly recommended if you plan to sell goods or provide services to the government. Veteran small business owners should consider the ! 8(a) Business Development Program o Company must be 51 percent owned/ controlled by a socially and economically disadvantaged individual or group of individuals o Certain presumed groups include African Americans, Hispanic Americans, "!1!"! and Subcontinent Asian Americans Service-Disabled Veteran- Owned Small Business (SDVOSB) o Company must be at least 51 percent owned, operated and controlled by one or more veterans with a service-connected disability FUN FACT: The federal government's goal is to award at least three percent of all contracting - and three percent of subcontracting - dollars to SDVOSBs each year. In 2018, the federal government exceeded this goal, awarding 4.27 percent in contracting dollars! Veteran-Owned Small Business (VOSB) o Company must be at least 51 percent owned/ controlled by U.S. citizens who are veterans of the U.S. Armed Forces To learn more about government contracting !! gov. Preparing for Government 0 .n You've decided to pursue government contracts. Now what? Tap into the following tools to prepare your business to compete in the federal marketplace: Training The Veteran Federal Procurement Entrepreneurship Training Program (VFPETP) equips veteran business owners with the knowledge and skills required to enter and compete for government contracts successfully. The program is delivered by the Veteran Institute for Procurement (VIP) and provides three different courses depending on where
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