Socioeconomic Essay
To help facilitate the growth of small businesses Federal Government procurement requires their Contracting Officers to comply with applicable socioeconomic laws and regulations that do not apply to commercial contracting. The socioeconomic goals set forth by these laws, which pertain only to federal contracting and are integrated into the FAR, ensure there is constant economic growth for the U.S economy as well. These goals consist of making awards to what is considered, set-aside programs, and includes small businesses participating in the 8(a) Business Development Program, Historically Underutilized Business Zones (HUBZone) Program, Service-Disabled Veteran-Owned Small Business (SDVOSB) Program, or the Women-Owned
…show more content…
One particular program of interest is that being the HubZone Program. HubZones consists of businesses that are located in areas defined by the federal government as being an area that is economically depressed due to high unemployment rates. HUBZones are categorized by the SBA as being in one or more of the following:
• A qualified census tract.
• A qualified non-metropolitan county with a median household income of less than 80 percent of the State median household income or with an unemployment rate of not less than 140 percent of the statewide average based on US Department of Labor recent data.
• Or on lands within the boundaries of federally recognized Indian reservations.
In order for a Small Business to qualify as a HUBZone business, it must meet all of the following criteria to qualify for the HUBZone program:
• For starters it must be located in a "historically underutilized business zone" or HUBZone.
• It must be owned and controlled by one or more US Citizens, and
• Lastly, at least 35% of its employees must reside in a HUBZone area.
The US Small Business Administration regulates and implements the program and determines which businesses are eligible to receive HUBZone contracts, they maintain current listings of qualified HUBZone small businesses that Federal agencies can use to locate vendors, settle
Because of the enhancement of the competitive advantage of our nation's farmers and ranchers, the government creates a business- friendly atmosphere for the company. This could decrease operation cost. The government may give some grants to help company.
Literature on the effects of low socioeconomic status (SES) on one’s psychological well-being is well established. Prior studies show that low-SES not only impacts individuals’ mental well-being, but also affects their children’s developmental trajectories. This paper reviews one of these numerous studies and further discusses the influences of parental SES on one’s life outcomes, as well as intergenerational mobility and achievement gap through a developmental perspective.
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).
How are the government loans for Americans to open business distributed and how do the Small Business Administration decides who gets it
a. The U.S. Federal government features a main legal requirement to purchase supplies as well as services on a competing and effective basis. Nevertheless, the U.S. Government has additionally applied via the procurement procedure particular guidelines to promote socioeconomic goals. Programs happen to be developed to supply elevated contracting possibilities to small-scale, small-disadvantaged, women-owned-and-run small-scale, HUBZone small-scale, veteran-owned small-scale, and service-disabled veteran-owned small-scale companies. Companies should also adhere to ancillary specifications arising beneath numerous laws and also Executive Orders (A/OPE, 2011).
The purpose of this paper is to construct an essay and define the sociological perspective. To be able to explain how my knowledge of the Sociological Perspective has helped me to understand the social world on both a macro and micro level. This essay will include the definition, discussion and application of specific sociological terms, concepts and theories.
Through the help of these foundations, the organization is able to build the foundation for a strong small business community. One of the NFIB’s foundations is the Small Business Legal Center. This foundation takes the voice of small businesses to the courts to protect and expand their business rights. It allows businesses to get the rights they deserve. Along with that, the foundation also offers small business legal advice and access to the organization’s employment hotline. The Small Business Legal Center helps a ton of businesses with a lot of difficult legal
The Historically Underutilized Business Zones (HUBzone) is a program created under the Small Business Reauthorization act of 1997. The goal of HUBzone is to “help small businesses in urban and rural communities gain preferential access to federal procurement opportunities.” The program was designed so an increase in federal contract opportunities could in turn promote employment opportunities, investment, and economic development in designated HUBzones. HUBzones are defined as nonmetropolitan counties, qualified census tracts, and lands within an Indian reservation. In order to achieve this goal, almost all federal agencies are required to award 3% of prime contracts to businesses with HUBzone certification. Currently the federal government spends approximately $600 Billion on prime contracts that results in $18 billion in federal contracts awarded to HUBzone contractors. (SBA)
The United States government recently demonstrated and reaffirmed its commitment and endeavors of ensuring that minority-owned and small businesses have greater access to contracting opportunities from the federal government. This commitment was demonstrated by the Obama administration through the announcement of a government-wide strategy by Commerce Secretary, Gary Locke and Karen Mills, Small Business Administrator. The plan includes federal agency procurement officials participating in over 200 events within three months to provide information regarding the federal contracting opportunities. These officials will also share information of contracting opportunities that are available within the American Recovery and Reinvestment Act. As part of these plans, small business owners can find the information regarding the available contracting opportunities at FedBizOpps website.
The U. S. government spends hundreds of billions of dollars each year buying everything from roads to commodes. And yes, that includes professional services. For example, in the government, marketing is called education and outreach. It includes just about every type of promotional service you can think of including, branding, website development, focus groups, advertising, marketing collateral, trade show support and more. Lisa Martin knows because her firm, LeapFrog Solutions, has been winning and fulfilling contracts with the federal government for 20 years. “We 've worked with nine different agencies—both as a prime contractor and subcontractor—and have provided the government with a full gamut of marketing services, said Ms. Martin. “Government contracts can be a great source of revenue for both new and established businesses. But to get those contracts, you have to understand the process and how to navigate it.”
Adopt rules for the purpose of gauging state agency compliance with minority business enterprise procurement goals;**
Through the land building and equipment, which the business lease or rent to other business or the potential customers
Socioeconomic status (SES) is one of the most widely studied constructs in the social sciences. Several ways of measuring SES have been proposed, but most include some quantification of family income, parental education, and occupational status. Research shows that SES is associated with a wide variety of health, cognitive, and socioemotional outcomes in children, with effects beginning prior to birth and continuing into adulthood. A variety of mechanisms linking SES to child well-being have been proposed, with most involving differences in access to material and social resources. For children, SES impacts well-being at multiple levels.
Small businesses are important to the U.S economy for multiple reasons. According to the U.S Small Business Administration, small businesses represents for 99.7 percent of all employer firms, have generated sixty four percent of new jobs and paid forty four percent of the total united states payroll (Brown, 2017) . Small business is an important role not just in the US economy, but they also play a major role in the growth of the individual community that they are located in. Small businesses give citizens of the community an opportunity for employment by offering jobs that the individuals may not have to have degrees or accolades to qualify for unlike jobs in larger corporations. Although small business is very important to the economy and the community, often times small