Vendorship Inc. Offers Advice for Minority Businesses Trying to Secure Government Contracts

Each year $660 billion is awarded in government contracts. This offers private businesses a significant opportunity to secure a promising amount of work and bolster revenue. However, the bidding process can be a complicated maze of red tape and time consuming especially when bidding as a member of a disadvantaged or marginalized business group. In light of Global Diversity Awareness Month in October, Vendorship Inc., a company that specializes in helping businesses identify and secure government contracts, examined data they say shows not everyone has the same advantages bidding on this work. According to Zippia’s data science team:

  • The most common ethnicity of government contractors is White (77.4%), followed by Hispanic or Latino (14.4%) and Black or African American (3.5%).
  • Only 8% of all government contractors are LGBT.
  • There’s a gender pay gap, with women earning only 89¢ for every $1 earned by men.

Vendorship Inc. provides these tips for diverse businesses:

  • Know where to go. Research county, state and federal contracting portals and agencies to find opportunities to submit bids and proposals.
  • Get certified. Obtain the right certification as a woman owned small business (WOSB) or economically disadvantaged woman owned small business (EDWOSB), minority owned business, veteran owned business and include this designation in all documents and materials.  
  • Get registered. Find out eligibility requirements for becoming a preferred supplier for registration on procurement sites accessed by both governmental and non-governmental agencies to be considered during their bidding processes.
  • Network. Attend seminars on government contracting and find peer-network groups that can help form strategic supplier-partner or client-partner relationships.
  • Reach out. If you need help, reach out to companies like Vendorship Inc. who specialize in helping companies secure revenue-generating contracts with governmental and non-governmental agencies.

Vendorship Inc. helps companies secure revenue-generating contracts by providing access to more than $660 billion in projects with city, state, and federal government agencies. They make government contracting easy with a customized, methodical, interactive, proprietary, and transparent program. And a knowledge transfer prepares their clients for successful proposal submission time after time.

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