A federal certification may be the thing to catapult your business to success. If you are a small business owner, you could be missing out on a lesser-known revenue stream – “set-aside” contracts. Government agencies, along with corporations that do business with the government, are mandated by law or corporate policies to spend approximately 20% of their budget with small disadvantaged companies.
As a business owner, it is important to understand that a federal business certification can allow you to be more competitive when it comes to government contracts, increasing your business’ revenue.
Even during a recession, the government must continue spending to fund its operations and stimulate growth. If you are seeking small business certification, it is important to decide who your target customer is to see if a federal certification is best for you. You have to be certified as a small business in order for your federal certification application to be accepted, so make sure that you go through that certification process first.