How to Access Government Business Opportunities for Minorities
Minority business owners seeking to expand and develop their business need to access government business opportunities. Billions of dollars in government contracts for products and services are put out for bid by federal, state and local governments every year. In many instances, government contracting rules require a specified percentage of these contracts be awarded to minority-owned businesses. In order to take advantage of these business opportunities, you need to familiarize yourself with the various federal and state agencies established to promote the development and growth of minority-owned businesses.
Other People Are Reading
Instructions
-
-
1
Locate the Minority Business Development Agency center nearest you. The Minority Business Development Agency (MBDA) is an agency of the U.S. Department of Commerce, and is the only federal agency whose sole objective is to expand the number of minority-owned businesses in the United States. The MBDA has centers around the country to assist with minority business start-up, expansion and development.
-
2
Go to the MBDA Website and register to gain access to contracting opportunities and online tools to assist you with preparing applications and business plans required to submit contract bids. The registration is free.
-
-
3
Apply at the MBDA for appointment to one of the Industry Trade Advisory Committees, which are a link between industry and the federal government, providing input to improve economic opportunities for U.S. businesses, workers, and consumers. Industry Trade Advisory Committees (ITAC) strive for a diverse membership, including minority business owners.
-
4
Go to the MBDA Website and search the state resource links to find state agencies and programs available to you. The MBDA links also provide information to help you find specific financing resources.
-
5
Visit to the Minority Owned Businesses section of the federal government's Business.gov Website. Review the information available to meet your particular needs such as starting a business, preparing a business plan and financing resources. The site also has information on available federal programs and links to state resources that provide business training and management.
-
1
Tips & Warnings
If your business qualifies as a "small business," you should apply for small business certification at Business.gov. Although there is no formal certification for minority-owned businesses, you can designate your business as such when you enter your company information in the Central Contractor Registration. This will allow other contractors to locate you when they need to use a minority-owned business for the specified percentage of a government contract.
