Through the power of collaboration and partnerships as well as developing a subcontracting and teaming plan, business owners can effectively capitalize on the more than $500 billion the U.S. government spends each year in federal contracts. In 2009, the federal government awarded $537 billion in contracts, making it the largest consumer in the world.
According to an American Express OPEN survey, business owners who team up with other small businesses to jointly bid on federal contracts see the greatest results: Two-thirds (68 percent) of active small business contractors who have pursued teaming opportunities have exceeded $1 million in federal contracts won to date, and 38 percent have exceeded $10 million. Also, businesses that partner with a larger prime contractor also report a higher success rate versus the average small business contractor: 61 percent of active small businesses that have performed as a subcontractor report that the total value of all of the federal contracts they have won to date exceeds $1 million, and 31 percent have exceeded $10 million.
As the fourth part of the special hour-long, one-one-mentorship webinars we’ve been promoting the last couple of months, Lourdes Martin-Rosa, American Express OPEN Advisor on Government Contracting, and Women Impacting Public Policy (WIPP), will help one woman business owner develop an effective strategy for teaming. These webinars are a part of the Give Me 5 program – a national program by American Express OPEN and WIPP to help women businesses owners access and win their share of government contracts.
Additional information can be found below:
Date: Wednesday, March 16, 2011
Time: 3-4 p.m. ET / 12 p.m.-1 p.m. PT
Lourdes, who has nearly 20 years of federal contracting experience under her belt, will be able to provide all webinar participants with valuable information for accessing and winning contracts as well as help both small and mid-sized businesses find and market their unique value proposition to potential teaming partners.