Government Contracts
Some recent studies show that governmental contracts for minority-owned businesses are lower than expected. Certainly, this does not come as a surprise; this statement by no means is an assignment of guilt rather than stating the obvious.
It is no surprise that federal and state governments have a tainted history of awarding minority-owned businesses contracts. However, there also could be an equal effort on the part of minority business owners to compete for those contracts.
Essentially, however, there are greater burdens for small business to compete for those large federal contracts; yet local and state contracts may illustrate a better and more viable opportunity for small business owners.
The first step is certainly the most difficult one. The best approach to finding the most up-to-date opportunities in your local community should involve contacting local government officials and exploring existing resources such as local government websites.
In our experience, such a search can be time-consuming and frustrating for small business owners. Alternatively, there are many commercial services available that would do the leg work for a minimal fee. We strongly recommend starting with those third-party services to overview the existing or upcoming opportunities better.
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