Set-Asides: Part 1
There is a lot going on in our society today. So I wanted to write up a description to tell you what the government’s doing to help socioeconomically disadvantaged businesses.
This has been taking place for decades with the government. They’ve been well ahead of the private industry on this topic for many years… the government’s had this set-aside program.
When they’re going out to buy something, they won’t just put it out for free and open competition. They’ll take certain procurements and set them aside for socioeconomically disadvantaged businesses. We’ll cover what those are in the next article.
What they’ll do is if they’re going to go and buy office supplies. They wouldn’t allow big companies, like Office Max or Office Depot or Staples to go after that business. They’ll set it aside and say only certain businesses can bid on this opportunity. It allows those businesses to flourish and grow. The government wants to help small businesses, minority-owned businesses, and women-owned businesses grow.
Again, the government has done a lot over the last several decades to help small disadvantaged businesses. Tune in to our next article and we’ll actually go over those classifications in detail.