On Monday, January 6th, 2020 the Small Business Administration's (SBA) final rule to implement a 2018 law took effect. The 2018 Small Business Runway Extension Act allows small businesses to calculate their revenue over 5 years instead of 3 years. The goal of this change is to allow more businesses to participate in small business set asides. This will allow the government to meet its goals for small business spending while allowing small businesses to better transition from small to large.
How GSA negotiates pricing can be confusing to a first-time contract holder but knowing the process and reasoning behind the GSA pricing structure could make or break how you do business with the Federal Government. Even seasoned contract holders should be familiar with how the GSA pricing system works so they can get the most out of their contract and stay compliant with the terms and conditions.
On October 1, 2019 the General Services Administration (GSA) consolidated their Multiple Award Schedules program from twenty-four unique schedules into just one. This huge operation involves moving every existing contract from the current system over to their new one. As this process continues, GSA is starting to enforce their contract compliance rules a little more strictly than before. Now's the time to examine your contract for ways to remain compliant to avoid any problems.
The U.S. Small Business Administration has just announced its findings on the Federal Government’s 2018 fiscal year, and it is great news for American small businesses. 2018 marks the 6th consecutive year the Federal Government has met their small business contracting goals. Not only did the federal government meet this goal in 2018, they surpassed it by $15 billion.