Discover how Veteran-Owned businesses have found opportunities on FedBid
After retiring from active duty, many service members utilize the skills they learned in the military to enhance the strength of our economy and create job opportunities for others by starting and growing their own businesses. According to the U.S. Small Business Administration, veterans over-index in entrepreneurship. Nearly 10% of all U.S. businesses are owned by veterans and they employ more than 5.75 million workers. FedBid is proud of the role we can play in helping veteran-owned firms access opportunities to grow their businesses through government contracting.
The federal government has set a goal of awarding 3% of all federal contract dollars to Service-Disabled Veteran-Owned Small Businesses (SDVOSBs). Additionally, the Department of Veterans Affairs (VA) has a goal of 12% of all VA contracts being awarded to Veteran-Owned Small Businesses (VOSBs). This is where FedBid comes into play. With more than 16,000 federal Buyers registered on our online marketplace, FedBid helps Buying agencies meet these Veteran-Owned Small Business utilization goals.
In FY 2015, Buyers awarded more than $270 million in contracts to VOSBs and SDVOSBs through FedBid. Speer Operational Technologies, LLC, a VOSB/SDVOSB founded in 2007 as a survival company providing survival and medical kits, is one firm that has found increased opportunities through our online marketplace.
Chris Crossley, SFC (R), US Army, and representative from Speer Operational Technologies pointed to the fact that through FedBid they, "receive more buys than they could ever go after" due to our overarching reach in the federal sector. Crossley added that the FedBid system is easy to use and has created opportunity and exposure with contracting officers to win bids and increase sales. It has even broadened their competencies into the IT and pharmaceutical realms.
Respondents to FedBid's annual Seller Survey also reflected this same sentiment. More than 55% of VOSB and SDVOSB respondents felt that FedBid helps improve their access to contracting opportunities with the federal government.
If you're a Veteran-Owned and/or Service-Disabled Veteran-Owned Small Business looking to get your foot in the door with the federal government, you've come to the right place. Don't miss out on your opportunity to register with FedBid and start bidding today!
Publisher: FedBid Inc.
Released: June 21, 2016