While it may seem that only large corporations have a shot at profitable military contracts, the Defense Department actually awards more than half of its available contracts, or $55 billion, to small businesses. Additionally, the recently passed $787 billion stimulus plan promises to make even more money available through the Defense Department and other government agencies.
Although the hurdles to becoming a military vendor can at times be overwhelming and frustrating, small-business owners who persevere agree that it is tremendously profitable and in times like our current economic conditions, even essential to survival. With the U.S. currently in the midst of two wars and a multitude of other security concerns, small business owners say the military is a recession-proof customer that has insulated them from the current economic downturn. Those interested in learning more about pursuing government contracts, click HERE for more information, as well as checking the Small Business Links section on this blog for additional resources that can assist you with this process.
The author, Linda Daichendt, is Founder, CEO and Managing Consultant at Strategic Growth Concepts, a consulting firm specializing in start-up, small and mid-sized businesses. She is a recognized small business expert with 20+ years experience in providing Marketing, Operations, HR, and Strategic planning services to start-up, small and mid-sized businesses. Linda can be contacted at firstname.lastname@example.org and the company website can be viewed at www.strategicgrowthconcepts.com.