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Identify Your Business

Clearly defining your business is important for accurate representation of your firm when submitting contract proposals.  In addition, such identification can serve as a marketing strategy.  Government agencies are required to establish and (strive to) meet a variety of procurement goals to ensure that small business get their fair share of the billions of dollars that the government spends each year for goods and services.es.

Following is a list of statutory goals that have been established for federal executive agencies:

• 23 percent of prime contracts for small businesses;
• 5 percent of prime and subcontracts for small disadvantaged businesses;
• 5 percent of prime and subcontracts for women-owned small businesses;
• 3 percent of prime contracts for HUBZone small businesses;
• 3 percent of prime and subcontracts for service-disabled veteran-owned small businesses.

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