The Historically Underutilized Business Zone (HUBZone) Empowerment Contracting Program encourages small businesses to locate in and hire employees from economically disadvantaged areas of the United States.  Companies participating in the program can receive competitive advantages in winning federal contracts. The HUBZone Empowerment Act became law as part of the Small Business Reauthorization Act of 1997.  [...]

A great way to grow a government contracting company is to use commercial financing, particularly receivables factoring. It is the for sure fastest easiest access to working capital there is available. If you choose the right factoring company you will have flexible terms that will allow you to graduate to institutional banking in a smooth [...]

Most people are familiar with the concept of Joint Ventures (JVs); however there are many companies who might enjoy success by becoming part of a joint venture, but are not aware of the particulars and benefits. JVs consist of two or more parties who team up in order to create a new entity for the [...]

The Internal Revenue Service has been ramping up enforcement of tax compliance. Previously I have posted about mis-catagorization of employees vs. contractors. It is important as a small business owner to know the rules and guidelines to avoid hefty fines and penalties. IRS agents are starting to request client backup files from small business accounting [...]

On September 14, the Director of OMB Jacob Lew issued a formal memorandum to all Government agencies to speed up the payments to their vendors. This measure, as part of the Prompt Payment Act (PPA) is helpful even though it appears on the surface to be targeted toward helping the struggling economy. Once inserted into [...]

A business owner must wear multiple hats and have expertise in various areas. For example, when the company sells to a customer and offers credit terms, the business assumes the role of a bank. Money is owed to the company on credit terms, so you become a banker. Another role, over and above just running [...]

It is very common for government contractors to use commercial financing, like banks and asset based lenders, to grow their business. Luckily, due to the ease of availability, unlimited access to borrowing power, and how quickly it can be put in place, many contractors rely on accounts receivable factoring when starting up a contract. But [...]

One of the complaints small businesses make is Government agencies stick to bigger vendors and don’t try out new smaller companies. The reason for this, contract officers don’t like problems. If a contract gets awarded to a small vendor who proceeds to mess up the work, it means a headache and more work for the [...]

The largest purchaser of goods and services on the planet is the U.S Government. But not just anybody can sell to them, only qualified vendors will become federal trading partners. The General Services Administration (GSA) has many program tracks that assist small businesses in the process of becoming vendors, including training, forms, and contacts. They [...]

Government contractor firms that are awarded federal contract frequently use a receivable factoring company to help with the working capital. Using the accounts receivable from completed work, the contractor may immediately get paid and use the capital to continue to pay for labor & expenses. Some of the benefits to either the prime contractor or [...]

Today more small businesses are finding the rewards of having the US Government as their best customer. They pay well, never run out of funds or needs and once you are accustomed to working with them fairly easy to sell to. The General Services Administration (GSA) has many different programs enabling small businesses to become [...]

TeamingUSA.com is a fantastic organization for entrepreneurs looking to get into the Federal market. The website provides a platform whereby your company can list, for free, all its capabilities. Using NAICS codes and keywords, companies looking to partner up to win a contract award can find each other. Here is what they say; Government agencies [...]