November 16, 2020 - Small Business

Small Business Participation In Government Contracts: Why It’s Important, How To Qualify, Benefits To Enjoy, And Traps To Avoid

Small BusinessIn fiscal year 2019, federal agencies awarded $132.9 billion in contracts to small businesses. This is a reflection of policy goals, as Congress and federal agencies have long worked to provide business opportunities to small business concerns through federal contracts and subcontracts. The Federal Government does this through specialized small business contracting programs, some of which are further targeted to assist specific subgroups—women, veterans, the economically disadvantaged—that the Government wants to support through its procurement practices.

The process of qualifying for these small business contract programs and of obtaining contracts reserved for small businesses can be somewhat complex. A maze of rules, including the Federal Acquisition Regulation (FAR), FAR contract clauses, and Small Business Administration (SBA) regulations and decisions, as well as SBA standard operating procedures and informal guidance are involved.

Morrison & Foerster co-chair and partner Tina Reynolds, along with associate Victoria Dalcourt Angle and law clerk Roke Iko, has written a Briefing Paper, published by Thomson Reuters, that is designed to help the reader understand the small business contracting process and to become familiar with specific small business programs. In addition, the article will provide a brief overview of some of the regulatory issues small businesses must navigate and highlight the benefits (and potential downsides) of small business contracting.

Read the full article here.