Once the domain of large, well-funded conglomerates, federal contracts are increasingly becoming an area of interest for more firms, including smaller and more diverse companies, according to John Shoraka, the Managing Director of GovContractPros, a business consultancy focused on helping companies succeed at winning federal contracts.
Working one-on-one with business executives and entrepreneurs, GovContractPros helps examine the eligibility and feasibility of applying for federal business development programs. Once the determination is made, the firm helps businesses compile the necessary documentation and build an application package that will meet public sector expectations.
Shoraka says his firm applauds the Biden administration’s efforts to do business more equitably, with a focus on casting a broader net and increasing opportunities for underrepresented populations to participate in the federal marketplace.
“We also support the latest initiatives to increase the goals for disadvantaged firms,” Shoraka said. “One potential reform that could significantly support additional participation is increasing the simplified acquisition threshold. This is where most small businesses can participate with fewer regulatory requirements, and it allows more nascent firms to get experience while building their portfolio of federal work.”
The firm has seen significant success among companies that participate in the 8(a) Business Development Program, a federal initiative to support small businesses owned by economically and socially disadvantaged entrepreneurs, and the signs so far in 2022 show more diverse firms and people may be on track to winning federal contracts, due to the administration’s efforts.
There are a number of resources available to small businesses beyond the 8(a) Business Development Program, including the SBA Mentor-Protégé, which enables larger firms to enter into joint ventures with smaller businesses, providing protégés with the opportunity to earn valuable business development assistance and boosting novice small companies’ chances of growth and success.
Shoraka urges diverse entrepreneurs seeking to win more federal business to obtain guidance from an experienced source, such as a mentor or small business partner already established in an industry where growth is desired. GovContractPros is one such source, with the ability to help small businesses with a wide variety of federal and state certifications that can boost their chances of closing deals.
