Government-corporate procurement and the associated certifications that often accompany that work is oftentimes a complicated and confusing process for most small business owners to wrap their brain around. Although it can be daunting it can also be potentially lucrative for small businesses. In this segment, our guest host Mark Collier, business consultant at the UGA SBDC, speaks to government-corporate procurement and certifications specialist, Bart Njoku-Obi to unwrap and demystify the opportunities in that space.
If a business is interested in pursuing government contracts, the SBDC first makes sure that business is proven in the industry, they must also have the appropriate offerings, strong revenue flow, and the ability to expand. Additionally, there are certifications that small businesses can take advantage of, should they qualify, including:
- SBA 8a
- Women-Owned Small Business
- Veteran-Owned Small Business
Once a sector has been determined, SBDC consultants like Bart can help businesses build a strategy road map depending on whether the contract is federal, state, or local. There are also some prerequisites for businesses seeking to enter this contracting space. Mark and Bart discuss these as well as other unique challenges or hurdles that small businesses might face during the bidding process.
Lastly, Bart says that analyzing a business’s strategic positioning is a good indicator as to whether or not a business is ready to begin exploring this space. To find out more about Bart and government-corporate procurement, be sure to watch our entire interview above.
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This has been a JBF Business Media production.