Bipartisan Report Says Sourcing Small Businesses for Government Contracts is Step Forward
The Bipartisan Policy Center, in conjunction with Goldman Sachs 10K Small Businesses Voices and Center Forward, have published a policy report favoring measures taken by the Biden administration to support small businesses during America’s economic recovery.
The report praises the administration’s plans to support small businesses’ involvement in government contracting as a means of promoting job growth, diversity and innovation.
“Small businesses often do not have the resources to compete at the same level that larger businesses do,” Center Forward states in its report. “Small business owners can spend hundreds of hours and tens of thousands of dollars completing applications only to be left empty-handed at the end of a long and expensive process. The process as it exists today disadvantages small businesses at a time when they need support more than ever.”
The push to promote smaller businesses reflects the Biden administration’s efforts to further open up the playing field and increase dynamism in government contracts, and in part reflects a continuing trend of both interference and centralization of the affairs of the American economy by the federal government.
In addition to explicitly outlining small businesses in their proposed relief efforts, the federal government has pushed for all federal agencies to use 23% of federal procurement dollars on small businesses. The movement reflects the administration’s concerns over predicted economic hardships small businesses are facing because of the COVID-19 pandemic, and with good reason. Research suggests between 1.4 and 2.1 million small businesses could close as an after-effect of the pandemic, a situation which could present devastating consequences to middle class America.
A significant change from this push comes in the form of a simplification of the Request for Proposal process and the acquisition of federal contracts – a process which 54% of small business owners who applied deemed “too time-consuming” and 42% “too complicated” to complete.
“Simplifying and improving the Request for Proposal process and requirements would create more transparency in the bidding process, strengthen accountability of prime contractors in their use of small business as subcontractors, and create an environment that would allow small businesses to thrive.”.
Increasing access to federal contracts for small businesses is a major step forward in re-invigorating a struggling economy for the Biden administration. It is also a popular one. Eighty eight percent of small business owners approve of congress making federal contracts more accessible for small businesses.
As a whole, this high level of approval reflects the general sentiment of small businesses towards the Biden administration’s push to re-imagine the American economy. Over 61% of small businesses surveyed also said they supported the American Jobs Plan, and 43% believe it will help their business with these issues.
The Biden administration’s push to support small businesses is seen by many as a fresh start for a middle class struggling against one of the greatest economic challenges of modern American history.
Disclosure: The Well News is partially owned by Cori Kramer, the executive director of Center Forward.
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