Small and Medium Businesses Find Success on FedBid
Using FedBid’s reverse auction-based marketplace, Sellers
from across the world have tapped into new markets for their goods and services
with no out-of-pocket costs.
And over 80% of the Sellers awarded are small businesses--many of them Veteran-Owned.
FedBid Small Business Success Snapshot, 2012
In FY12, over 85 percent of the nearly 30,000 awards made on the FedBid online marketplace were awarded to small businesses, adding up to over $1 billion in small business purchases. This 3.5 percent increase over FY11, marks the sixth year in a row that over 80% of the federal government awards on the FedBid marketplace were won by small businesses.
Of the 85% of awarded small businesses:
- 21% were Minority-Owned
- 23% were Women-Owned
- 17% were Small Disadvantaged businesses.
- Veteran-Owned Small Businesses took 18.5% of award dollars, totaling nearly $240 million
- Service-Disabled Veteran-Owned Small Businesses took 13.9% of award dollars, totaling over $181 million
Furthermore, we believe that companies do well by doing good—that hiring Veteran Owned Small Businesses (VOSB) is not good will, it’s good business.
- FedBid’s set-aside restrictions ensure that when a Buyer requests veteran owned businesses, only Sellers fitting that set-aside are able to compete.
- FedBid is the only online marketplace that allows Buyers to actively solicit a managed VIP VetBiz certified community of Sellers.
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