Government procurement – having the federal government purchase their goods and services – can be a big boon for small businesses. The government needs a lot more than just items for the military, so small businesses that aren’t defense contractors shouldn’t look the other way on these opportunities. The U.S. government spends hundreds of billions of dollars each year on a wide range of commercial items.
While many may think government contracts only go to large corporations, that isn’t the case. The law requires the U.S. government, which is the largest customer in the world, to consider buying from small businesses. In total, the federal government awards nearly one-quarter of its service contracts to small businesses, according to the U.S. Small Business Administration.
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