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The System for Award Management (SAM) is the first step to securing contracts with the Federal Government. Once you register with the SAM, you’ll be given a CAGE code that will act as an identifier for your business.
The federal government aims to award 25 billion in contracting dollars to Women-Owned Small Businesses and Economically Disadvantaged Women-Owned Small Businesses. Being a certified WOSB/EDWOSB will level the playing field for underrepresented businesses owned by women.
The federal government looks to award at least three percent of contracting dollars to Veteran-Owned Small Businesses and Service-Disabled Veteran-Owned Small Businesses. Receiving a VOSB/SDVOSB certification provides your business with limited competition among government contracts.
GSA Schedule Contracts are a gateway to trillions of dollars of federal government spending. These long-term contracts provide businesses with a vehicle to sell products and services to federal, state, and local government agencies. It is the biggest and best contracting opportunity on the market.
Five percent of the $500 billion in annual government spending is awarded to disadvantaged businesses. The 8(a) Program was developed to provide socially or economically disadvantaged companies an equal chance of securing federal contracts.
Historically Underutilized Business Zones (HUBZones) were introduced through the Empowerment Act of 1998. The goal of the US Congress was to increase employment opportunities and economic development in distressed communities.