Obama Signs Bill to Deliver More Gov't Contracts to Small Businesses

Obama Signs Bill to Deliver More Government Contracts to Small Businesses

Small Business and The JOBS Act: One Year Later

On Tuesday President Obama signed a series of provisions to help small businesses compete for more federal contracts. Of note in this law is the provision that requires small business contracting performance to be part of the employee review for senior agency officials. This review factors into their consideration for bonuses and promotions.

Officials felt this change was necessary after it was revealed that the federal government missed its stated small business contracting goal for the eleventh straight year in 2012. Previously, harsher penalties had been suggested such as reducing budgets for agencies that fell short of the annual goals.

“The small business provisions will help make sure existing small business goals are actually met, empower small business advocates, and crack down on fraud,” Rep. Sam Graves said in a statement. He added the bill would “help small businesses compete in the federal marketplace, bring efficiency and cost-savings to the taxpayer, and create jobs while doing it.”

Small contractors face a multitude of challenges when competing against larger companies for contracts and officials hope these steps will help level the playing field. While small businesses were a hot topic in the recent election, with both candidates promising to champion their needs, many owners hope this was not just lip service.

“Everyone loved small businesses, but when you looked at what was actually being done to help them get contracts, there was nothing. This is a step in the right direction,” says Margot Dorfman, VP of the National Association of Small Business Contractors. “There has to be a true commitment to doing businesses with small businesses.”

Source: Washington Post