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U.S. Falls Short in Awarding Small-Business Contracts

Topics: Contract, Copyright, Management, Small Business, Small Business Administration

A record number of federal dollars went to small businesses in 2009, although the federal government once again fell short of reaching its annual goal, according to a report from the Small Business Administration. Nearly $97 billion or 21.9% of prime federal contracts went to small firms between Oct. 1, 2008 and Sept. 30, 2009. That's up from the $93 billion that small businesses landed a year earlier, but still about $5 billion short of the 23% target established in a 1997 law. I think the goal is feasible for next year," said Joe Jordan, the SBA's associate administrator for…

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Government Falls Short of Small Business Contracting Goals

Topics: Contract, Management, Planning, Small Business, Small Business Administration

Small businesses nationwide won a record $96.8 billion in federal contracts last year, an increase of more than $3 billion over fiscal 2008, according to the U.S. Small Business Administration's most recent scorecard . However, it still wasn't enough to reach a goal set by Congress. Small business contracts accounted for 21.9 percent of federal spending last year - up from 21.5 percent the year before. Congress set a goal of 23 percent goal. "There was an increase in both dollars and contracting share for every small-business category," SBA Administrator Karen Mills said in a statement. "This represents real progress,…

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USA Today interviews the SBA's Karen Mills

Topics: Copyright, Small Business, Small Business Administration

Karen Mills, head of the U.S. Small Business Administration affirms in a USA Today interview that small businesses are indeed the backbone of our economy and need access to capital to continue growth and create jobs. She continues to urge Congress to p... Copyright 2009 Small Business Resource USA Today interviews the SBA's Karen Mills

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Small businesses win bigger share of federal contracts

Topics: Small Business, Small Business Administration

Small businesses won contracts worth more money from the federal government in 2009 than the year before, increasing their share of a key source of income. The U.S. government paid small businesses $96.8 billion last year to do a wide variety of jobs including defense work, scientific research, technological support and even janitorial services, up from $93.2 billion in 2008. That amounted to 21.89% of all federal spending on contracts - a hefty share, and up from 21.5% the year before, but still short of the 23% goal set by Congress, according to new data from the Small Business Administration.…

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Microloan program is a big help for some small businesses

Topics: Credit, Loan, Small Business, Working Capital, Small Business Administration

Last year's federal stimulus act included $56.1 million for loans of up to $35,000 to small businesses, and some lenders and borrowers say the money has been put to good use. Like many small businesses caught in the worst economic crisis since the Great Depression, Tri-State Biodiesel was struggling to find capital last year, in the middle of a credit crunch. The Bronx company, which converts used cooking oil from restaurants around New York City into fuel that it then sells, was in dire need of an equipment upgrade. Introducing the LA Times Star Walk app for iPhone. Tour the…

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Seek an Edge by Finding Your Niche

Topics: Marketing, Sales, SCORE, Small Business, Small Business Administration

Hector Barreto is the former Administrator of the U.S. Small Business Administration (SBA). In his new book, The Engine of America: The Secrets to Small Business Success from Entrepreneurs Who Have Made It! In this excerpt from Chapter 6, he explores the importance of finding your niche when you start you company, not as an afterthought. Two of the most successful businessmen I know, Dimensions International, Inc.' One thing I learned a long time ago," says Wright, "is that to be successful you have to find a need and fill it. There are a lot of needs that are out…

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