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The first step involves meeting the eligibility criteria, which include being a small business as defined by the SBA, being at least 51% owned and controlled by U.S. The application process involves detailed documentation, financial records, and a comprehensive business plan. Developing a robust marketing strategy is equally crucial.
In today’s business environment, even long-term suppliers can run into difficulties. Manufacturers must be diligent in terms of monitoring their financial health, businessstrategy, compliance levels, and performance. Launch a sourcing event to find additional capacity.
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And what we found that I think is both super important and maybe a little surprising, is that diverse owned and small businesses have the capacity for contracting. And they say that government contracting is critical for their businessstrategies.
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