Maria Contreras-Sweet, the newly appointed Administrator of the Small Business Administration, recently announced an updated formula for defining “small” at the SBA. The bottom line is that starting July 14th thousands of companies that were considered too big to qualify for SBA programs will now be considered small. This new status means access to cheaper financing and new sales opportunities. It’s kind of a big deal. SBA small business size standards: how the SBA measures the size of your … [Read more...]
Small companies raise red flags about who’s footing the bill
Who is Really Paying That $1M+ Salary? Big pay checks at small companies raise red flags about who's footing the bill. A key benefit of owning your own business is the ability to enjoy fully the fruits of your labor. Entrepreneurship is one of the main ways to achieve financial independence. But some people, however, are taking issue with the high levels of compensation paid out at some small businesses. They believe that its unfair for executives to earn as much as $1 million per year or more … [Read more...]
Get Your Share Of $80 Billion In Small Business Government Contracts
Uncle Sam bought over $80 billion in products and services from small businesses last year in Government Contracts. Which door should you knock on to get your piece? According to data recently released in the Federal Procurement Data System (FPDS), federal government agencies award over $83 billion in small business contracts during 2012. This represents approximately 22 percent of the $376 billion in contracts for which small businesses were eligible. This is very close to the 23 percent which … [Read more...]
How Does a Permanent $250,000 Small-Business Tax Deduction Sound?
Uncle Sam bought over $80 billion in products and services from small businesses last year. Which door should you knock on to get Small-Business Tax Deduction? According to data recently released in the Federal Procurement Data System (FPDS), federal government agencies award over $83 billion in small business contracts during 2012. This represents approximately 22 percent of the $376 billion in contracts for which small businesses were eligible. This is very close to the 23 percent which has … [Read more...]
Sequestration hits Friday: Will Your Business Take a Hit?
Sequestration hits Friday, and your small business may not be spared from the effects. Big Budget Cuts Coming Friday: Will Your Business Take a Hit? At this stage in the negotiations, it appears almost certain that a deal to avert sequestration will not be reached in time to prevent $85 billion in budget cuts from going into effect on Friday. Congress and the Executive Branch are too far apart on how to ameliorate these cuts, and each party believes the other will suffer more politically from … [Read more...]
Navy Awards $250 Million Contract to Small Businesses
Thirteen small businesses win Navy contract worth up to $250 million. Another Federal government agency has taken the important step of awarding a significant contract to small businesses. The Department of the Navy awarded 13 small businesses with a contract worth nearly $50 million for 2013 with options to renew through 2018. If they exercise all renewals then the contract is worth a quarter of a billion dollars. The contract is for delivery of various support services including research, … [Read more...]
Department of Veterans Affairs Commits $5B to Small Businesses
The Department of Veterans Affairs flips government contracting on its head by offering small businesses $5 billion in contracts. The Department of Veterans Affairs is expected to award a $5 billion services contract to small-business prime contractors. In a complete reversal from the norm, the prime contractors selected will be allowed to have a maximum of 150 employees. This will force large companies like Dell and IBM to compete for the right to be subcontractors on the award. The five-year … [Read more...]
New Law Helps Small Businesses Win More Government Contracts
President Obama recently signed into law new provisions to increase the percentage of federal dollars spent with small businesses with Government Contracts. 2012 was the eleventh year in a row that the federal government missed its small-business procurement goal. Federal agencies are tasked with spending at least 23 percent of their budgets with small businesses but consistently miss this mark. Last week, President Obama signed into law a series of provisions meant to address this problem. … [Read more...]
Military Aircraft MRO Market to Surpass $41 Billion Next Year
Finance expert Mike Periu on the one area of military spending that will increase in the next decade, The Military Aircraft MRO Market. Many small businesses that serve as Department of Defense subcontractors would be adversely impacted if sequestration—the mandatory spending cuts that are part of the fiscal cliff—takes place. There is one segment of military spending, however, that is set to grow globally over the next decade—MRO for military aircraft. MRO stands for maintenance, repair and … [Read more...]
Municipal Bonds Offer Good Risk Reward Balance
Municipal bonds are issued by state and local governments to raise money. General obligation ("GO") bonds, the safest type... Municipal bonds are issued by state and local governments to raise money. General obligation ("GO") bonds, the safest type, pay lenders from tax revenues. Revenue bonds are used to finance specific projects like a stadium or highway and lenders are paid from the revenues that the project generates. Since states cannot declare bankruptcy and it's extremely rare for a city … [Read more...]