Last year, small businesses received $91.5 billion in government contracts. Landing contracts takes planning, persistence and ingenuity. For many business owners, the road to success comes in the form of subcontracting and/or teaming -- banding together with fellow small business owners to pursue larger prime contracts. According to American Express OPEN’s government contracting survey, three-fourths of small business contractors have had some procurement revenue from subcontracting and teaming, averaging 34% of their procurement revenue.
Pursuing subcontracting and/or teaming can be an excellent way for small businesses to gain procurement experience, expand their networks, improve their chances for contracting success, and obtain additional opportunities. For example, the same survey revealed that nearly one-quarter (22%) of active small firm contractors have accessed additional subcontracting opportunities after being recommended to a large prime contractor by a prime that they had performed successfully for in the past.
On July 24th from 3pm – 4:30pm EST, Denise Rodriguez-Lopez, American Express OPEN Advisor on Teaming, will host a live chat on the American Express OPEN Victory in Procurement group on LinkedIn to guide small businesses on how partnering with another company can give their business the break it needs to surge ahead. This is an exclusive opportunity for business owners to have Denise answer questions LIVE on teaming and subcontracting.
Anyone can join the American Express OPEN Victory In Procurement® (VIP) group on LinkedIn, where members are able to:
· Post and respond to Teaming needs/opportunities
· Interact with Teaming experts
· Learn of upcoming government contracting opportunities (on the “Jobs” tab)
· Learn about upcoming events