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VAMBOA goals metThe U.S. Small Business Administration (SBA) announced on Friday, August 1, this 2014 that the U.S. government achieved its small business federal contracting goal. The federal government awarded more than 23% of its federal contracts to small businesses, totaling more than $83 billion. This was the first time in eight years that the federal government has reached its contracting goal.

The announcement was made at a press conference that was held at the National Aeronautics and Space Administration’s (NASA) Goddard Space Flight Center by SBA Administrator Maria Contreras-Sweet. She was joined by NASA Administrator Charles Bolden and Senator Ben Cardin.

“When we hit our small business procurement target, it’s a win.  Small businesses get the revenue they need to grow and create jobs, and the federal government gets the chance to work with some of the most responsive, innovative and nimble companies in the U.S. while the economy grows,” Contreras-Sweet said.  “Thanks to the president’s leadership and a team effort among all federal agencies, we were able to meet this goal.”

While contract expenditures have gone down in all categories as a result of overall reduced federal spending, small businesses managed to secure a greater percentage of the contracts. This is due inpart to the SBA working with other federal agencies to help small businesses win federal contracts.

The SBA also facilitated the requirement for larger companies with substantial federal contracts to sub-contract with Veteran-owned small businesses.

Along with the announcement, the SBA released the FY 2013 Small Business Procurement Scorecard. These annual scorecard provides an assessment of each federal agency’s yearly small business contracting achievement against its goal, with 20 agencies receiving an A or A+.  Overall, the federal government received an “A” on the government-wide Scorecard.

The Veteran and Military Business Owners Association (VAMBOA) is a non-profit business trade association that promotes and assists Veteran Business Owners, Service Disabled Veteran Owned Businesses (SDVOB) and Military Business Owners. Small businesses are the backbone of our economy and responsible for job generation. That is why VAMBOA provides its members with Business Coaching, Contracting Opportunities, a Blog that provides information, Networking contacts and other resources. Membership is FREE to Veterans. Join Now!

VAMBOA: Government Achieves Small Business Contracting Goal

Veteran business owners are constantly faced with new challenges that other businesses may not encounter. For starters, veteran owned small businesses and service disabled veteran owned businesses often have to spend more on typical office supplies and health insurance costs because they have smaller employee counts than large corporations. Veteran businesses also have to abide by certain standards set by the government and the Small Business Administration in order to remain considered “veteran owned small businesses.” Luckily, VAMBOA (Veteran and Military Business Owners Association) has made it easy to increase networking experiences and find SBA loans that veterans need to start, build or expand their business.

VAMBOA offers extensive networking opportunities for new and established veteran business owners. The only way a business can grow and prosper is by networking. Of course, many businesses don’t have the funds to hit the ground running, but by utilizing resources from the Small Business Administration, such as SBA loans created specifically for small businesses, such as veteran businesses and service disabled veteran owned businesses, military owned businesses, veterans can begin their businesses strong and continue networking while they build success.

Veteran businesses can use the Small Business Administration to find the necessary forms they need to be approved as veteran owned small businesses or service disabled veteran owned businesses. VAMBOA is a great resource. Veteran business owners can connect with other veteran business owners to discuss the best ways to apply for SBA loans, changes or updates from the Small Business Administration for qualifications and more. VAMBOA can also connect you with private corporations that want to work with you.

One of the best ways for newer veteran businesses and service disabled veteran owned businesses to get a jump start is to become members of VAMBOA. There, veterans are able to build a collection of contacts, adding veterans to their list of business contacts to network with. Networking is a great way for veterans to learn about the process of becoming a successful veteran business owner, to find advice on SBA loans and to build the best business practices to ensure a successful future.