Overview of Procurement Economy

Small businesses are the backbone of the economy. They play a crucial role in creating jobs, generating revenue and promoting innovation. Procurement (through federal, state and local governments as well as corporations) can be a valuable opportunity for small businesses to expand their customer base and grow their business.

Procurement is the process by which the government acquires the goods and services it needs by purchasing from commercial businesses. Since agencies of the government use taxpayer money, there are a number of regulations on how to use it properly and responsibly.

Contrary to popular belief, procurement contracts often go to small businesses.

This session will cover how you assess your business readiness for contracting and market research with an emphasis on competitive analysis before competing.

• Is there a need for my product or service? Can my business be competitive against other businesses selling similar products and services?
• Ensure contracting is the right option for your business before bidding. Do you have a verifiable track record of delivering goods and services? What’s your business reputation?
• When is subcontracting vs contracting right for my business?
• Find your NAICS code, business size, and create your capabilities statement.

* This is an in-person workshop.