Role Of Contracting Officer And The Small Business Association

In this paper I will discuss the various aspects of a Federal Contract Specialist position and what makes it different from many other government jobs. Some people think contracting is just shopping for a living, however, it requires great skill and attention to detail. Contract Specialists must be able to communicate effectively with their customers, vendors and other contracting personnel and they must be able to accurately interpret regulations and apply them appropriately. This position is a little bit customer service representative, a little bit personal shopper and a whole lot of legal assistant.

As a hybrid of partnerships and corporations, LLC’s provide limited liability for debts and flexibility to be taxed as a partnership or corporation (Staring and Naming a Business Presentation, 2012, Slide 5). Some specific advantages include being empowered authorities in the management of the business, diversity of members, limited liability, pass-through taxation, and less paperwork (appreciated by many). A drawback of this business structure is the need for a tailored operating agreement that specifies the specific needs of the

Financial Assistance is made up of three different loan categories: · 7(a) General Business Loan, which is most widely used. It provides funds for almost any legitimate business purpose. · Certified Development Company Loans (504 Program) provide long term, fixed rate financing at reasonable rates for businesses to grow. · Other Special Loan Programs include: Micro loans; Lines of Credit; Contract Loans; Physical Disaster Loans; Direst loans to veterans, Vietnam, disabled and handicapped individuals, etc. Another function of the SBA is Investment Capital. This provides small businesses to have money or capital for growth and finance. The Small Business Investment Capital or SBIC provides the capital. Developed in 1958, the SBIC wanted to fill the gap between venture capitol and the needs of small businesses. There are two types of SBIC's, the regular SBIC and the specialized SBIC. The Procurement Assistance function tries to make sure that small businesses get their fair pay, goods and services from the federal government. Procurement Assistance programs include Prime Contracts Assistance, Natural Resources Assistance, Subcontracting Assistance, COC and PASS programs. The SBA also tries to establish goals for contracting with small disadvantaged businesses. The last area of focus is Disaster Loans Assistance, which comes into play for

The Small-Business bill was created to help out small businesses. The bill includes tax-breaks and a thirty billion dollar small-business lending fund. Congress is hoping that this will create more job openings because the businesses must hire a certain amount of people off the unemployment line. This will insure the percentage of people that are unemployed to decrease. The bill would raise new-business expense deductions from

The U.S. Small Business Administration was founded on July 30, 1953, and has delivered millions of loans, contracts, counseling sessions, loan guarantees, and other types of assistance to small businesses. Even though SBA was formally created in 1953, its philosophy and mission began to form years earlier in other agencies and began largely as a response to the pressures of the Great Depression and World War II (Business, 1988). These events caused mass hardship on the economy, and the best way to promote it again was through small business. The Small Business Preference Program was created to guarantee that small businesses received their fair share of contracts for federal government services and supplies. The intent was to help strengthen the economy by allowing small businesses to get a portion of the property government sold as well. 23% of all Federal-contracting dollars must be awarded to small businesses, and specifically, 5% to women-owned small businesses. There are many different types of small businesses, and each receives a portion of the contract the government gives. The WOSB Program became effective in the FAR on April 1, 2011, and is one of the types of small businesses that are given preferential treatment (SBA.gov).

• Expand or modify system to serve new purposes or improve work flow (Business Dictionary, 2012).

George Shepard: Mr. Shepard is listed as the Contract Administrator for Contract ID # JA-FSA-OD-002-15. During an interview with Mr. Shepard, he identified himself as a Policy Analyst for DHS FSA. He also serves as a Contract Administrator who supports the various FSA programs. As a Contract Administrator he is responsible for creating purchase orders for grants, among other tasks.

The Small Business Administration has many roles in the global and the national economy. One role the SBA has is that it helps many businesses around the world. Some places in the world that the SBA helps are the U.S. Virgin Islands, Guam, and Puerto Rico. Another role that the SBA has is that they help with business that may have had some hard times with the economy. The economy can be very bad at some times and some businesses can get all they help they can get for this business to be running smoothly. Luckily, the SBA wants to help those businesses. They want to better the small business by giving loans to them if they qualify it.

“Ordinary” and “necessary” imply that an expense must be customary and helpful, respectively. Because these terms are subjective, the tests are ambiguous. However, ordinary is interpreted by the courts as including expenses which may be unusual for a specific taxpayer (but not for that type of business) and necessary is not interpreted as only essential expenses. These limits can be contrasted with the reasonable limit on amounts and the bona fide requirement for profit motivation.

The National Federation of Independent Business has had a profound impact on businesses all across the country. Since 1943, this nonprofit, nonpartisan organization has given the members in the association power in the marketplace. The association has been able to protect the right of their members to own, operate, and grow their businesses. Through NFIB, small businesses have been given a chance in the extremely competitive marketplace of the United States.

It is a compilation and presentation of data collected by surveys of small business owners. It is a simple device designed to show how business owners feel about expanding their businesses, as well as how new entrepreneurs feel about opening businesses. It takes into account many factors to get an overarching index of business confidence. Some of the factors include the inventories, capital outlay, sales, and the economy. The report also takes into account subjective factors, such as whether the survey taker believes it is a good time to expand, as well as a brief explanation of why or why not. (Dunkleberg & Wade,

Contracting officer’s use cost criteria categories to determine whether a contract can be used as a set-aside. This involves an evaluation based upon three categories: micropurchase, simplified acquisition procedures, and subcontracting plan requirements. Any acquisition under $3,000 is called a micropurchase. Exceptions include: if the project is based on

Commercial business provides two-thirds of the company’s projects as well as 80% of its sales. Due to the higher volume in demand, the commercial sales force is larger than the residential sales team, which relies heavily on CMR’s showroom. The market for commercial business is larger than residential market with projections of its value at upwards of $5 billion. Commercial contracts are also harder to secure than their residential counterparts. They must be

It is also called small purchases or government quotes; it is typically reserved for smaller-dollar buys, although they can be used for purchases of commercial items priced as high as $5 million. The good news for small businesses is that simplified acquisitions of supplies and services between $2,500 and $100,000 are usually reserved exclusively for these businesses "" as long as the federal contract officer can obtain competitive offers from at least two small companies.

We understand the need for contractors to develop sound business and financial management practices and have developed numerous Contractor Colleges, and other seminars and training sessions to accommodate those needs. The Sessions created by LSC normally include a variety of instruction classes on various topics, e.g., Estimating, Marketing, Joint Ventures, Bonding and Financial Management. Through our consultative services, firms will learn supportive steps that are critical to starting, operating or expanding a successful business. They will be provided with a business/financial planning guide in addition to specific resources