Management

Browse 14829 search results

Winning Government Bids

Small minority-owned firms are winning as many federal contracts as their mainstream counterparts, but are doing so at higher costs. The average small firm spent $103,827 in 2010 on costs associated with securing federal contracts, such as cash outlays for staff, networking events, and training. Comparably, minority-owned firms spent an average of $139,709—35% more—in 2010. It also takes minority-owned firms longer to get their first big win. The average small business contractor reported 16 months and 4.4 unsuccessful bids before getting their first contract, while minority contractors reported on average 20 months and 6.1 unsuccessful bids.

×