The payoffs of a government contract for a small business are usually worth all the hard work that goes in to winning one, says Julie Weeks, a global expert on women’s enterprise development. “The government is a steady customer once you break in and understand the rules. They pay more steadily, they provide referrals, and the people you meet can lead to a lot of other business,” she says.
But federal procurement is a unique market with a big learning curve, which is often even bigger for minority-owned businesses, Weeks’s research shows. And a decline in the federal contracting budget—which is down $35 billion (6 percent) since fiscal year 2009, is making competition fierce.
Weeks is president and CEO of Womenable, a research, program, and policy development consultancy whose mission is to improve the environment for women-owned businesses worldwide. As an American Express OPEN research advisor, she produces annual reports for the American Express OPEN for Government ContractsRead More »from Minority-Owned Businesses Spend More to Win Government Contracts