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Surety bonding is primarily needed in the construction industry on publicly funded projects. 

How can a public agency using the low-bid system in awarding public works contracts be sure the lowest bidder is dependable?

How can private sector construction project owners manage the risk of contractor failure?

A surety bond is considered a part of the insurance industry, but it shares some characteristics with the credit industry. The surety company's primary duty is not to lend the contractor money. Instead, the surety company uses its financial resources to stand behind...

In the current financial environment, access to capital is as much an issue today as it was in 1969 when the Minority Business Development Agency (MBDA) was established. For new businesses, especially those that are minority-owned, having access to working capital—which is used to keep operations going and to pay bills—could mean the difference between the success and failure of that business.

Other minority-owned firms need capital to fund their growth and,consequently, their ability to perform contracts. This financing could mean hundreds or even thousands of...

GSA teaming provides real benefits for businesses:

• Satisfies the customer with a single solution;
• Increases competitive edge;
• Increases market share;
• Increases visibility;
• Focuses on core capabilities;
• Obtains complementary capabilities;
• Integrates different skills;
• Offers additional opportunities with customers;
• Builds direct relationships with customers;
• Maximizes use of one or more GSA Schedule solutions;
• Shares risks and rewards;
• Allows
...

FedBizOpps.gov is the U.S. Government's one-stop virtual marketplace. Through this single point-of-entry, commercial vendors and government buyers are invited to post, search, monitor, and retrieve opportunities solicited by the entire Federal contracting community. 

This site is available 24 hours a day, seven days a week, and allows vendors to register to receive e-mail notification of opportunities in their areas of interest.
 

FBO Demonstration Videos

The following videos will help familiarize you with the features and...

Nowadays, brick-and-mortar merchants use electronic card readers to enter credit card transactions. These gadgets have a slot to swipe a card, and a numeric keypad to enter the numbers manually in case the swipe doesn't work. They may be stand-alone gadgets connected directly to the credit card network via a phone line, or they may be connected to a computer and work in conjunction with a software package.

Some are even wireless. If you're doing business over the Web, you don't need one of these (regardless of what the people who sell them...

You can't ignore the role of the Internet in business today. In a very short time, we've gone from mixers and meet-ups to e-mail and tweets. Not having a web site that represents your business today is as negligent as not having business cards.

You know how important taking your business online is, but maybe you, like many other business owners, don't have a clue about "this Internet thing" or where to even start.

Fear not. Taking your business online, while a project unto itself, is not much different from conducting your business any other way if you break it...

When we think of networking often times images of happy hour, spending an inordinate amount of time in the evenings at a restaurant or office building with a whole lot of chit chat that may yield little to no business at all.  While this type of activity can seem tiresome and unnecessary, it can be a great way to get your business off the ground.  This simple, cost-effective (sometimes FREE) way of advertising is a means of getting the word out about your business.

Everyone is experienced at networking.  Remember what happened when you ate at that great seafood...

Being your own boss can be rewarding, but it certainly isn’t for everyone. Sure, to some degree, you have more freedoms working for yourself than you do working for someone else. But often young entrepreneurs find that the workload and the stress of having to continually perform to keep their young business viable can be too much for them. It's true that, statistically in the U.S., more new businesses fail than succeed. You shouldn't let that discourage you but if you're thinking about starting your own business, there are some important things you should think about before making your...

E-Buy is an online Request for Quote (RFQ) tool designed to facilitate the request for submission of quotes for a wide range of commercial services and products offered by Multiple Award Schedule (MAS) contractors who are on GSA Advantage!.

E-Buy, a component of GSA Advantage!, allows federal agencies (buyers) to maximize their buying power by leveraging the power of the Internet to increase Schedule contractor participation in order to obtain quotes which will result in a best value purchase decision.

E-Buy provides Schedule contractors (sellers)...

On June 28, 2010 at 1pm EST, the Task Force on Federal Contracting Opportunities for Small Business will hold a public hearing at the auditorium at the Department of Commerce located at 1401 Constitution Ave., NW, Washington, DC 20230.

To pre-register for the meeting, please email your name, organization or small business that you represent, along with the contact information to ...

In today’s Wall Street Journal, Secretary of Commerce Gary Locke explains the impact of the new health care legislation on businesses.  Here’s the text of his op-ed:

Don’t Believe the Writedown Hype

Taken as a whole, health reform is undeniably pro business and pro jobs.

By GARY LOCKE

President Obama began his campaign to reform the American health-care system focused on three goals:...

It’s important to recognize that consumers are becoming more environmentally conscious. Eco-friendly practices may seem costly but can serve as a great investment for future growth in businesses as it reduces costs and creates happier customers.

Business.gov provides suggestions and information from fellow business owners as well as industry and government experts.  Linked to the site, you can find a Green Business Guide that offers tons of tips on...

MBDA allocated roughly $1 million to seven minority business centers last month. The Minority Business Centers located in cities in Mesa, AZ; Bismarck, ND; New Orleans, LA; Durham, NC; San Jose, CA; Detroit, MI; and Philadelphia, PA received the funding to increase minority business contracting opportunities in the American Recovery and Reinvestment Act.

The Minority Business Centers in these cities will assist in “minority-owned firms playing a significant role in the nation’s economic growth,” says MBDA National Director David Hinson.  MBDA kicked off the ARRA Initiative last...

On July 6th and 7th, MBDA hosted a meeting of leaders in the minority business community, including program directors and advocates, to review and benchmark progress regarding the state of minority businesses.  The goal of the meeting was to establish a blueprint for minority business development programs that can be implemented by the public and private sectors in the future.

From the meeting, common themes emerged from the conversations.  MBDA is opening the discussion to include a variety of stakeholders in minority business success- we welcome your comments and suggestions...

On July 6th and 7th, MBDA hosted a meeting of leaders in the minority business community, including program directors and advocates, to review and benchmark progress regarding the state of minority businesses.  The goal of the meeting was to establish a blueprint for minority business development programs that can be implemented by the public and private sectors in the future.

From the meeting, common themes emerged from the conversations.  MBDA is opening the discussion to include a variety of stakeholders in minority business success- we welcome your comments and suggestions...

U.S. Commerce Secretary Gary Locke announced a new Obama Administration initiative designed to streamline government bureaucracy and bring services and solutions directly to businesses and entrepreneurs creating and sustaining jobs. Locke made his announcement at the Detroit Economic Club’s National Summit. The new initiative will be launched this summer in the Detroit area.

Responding both to President Obama’s call to make government more responsive and a once-in-a-generation economic crisis, Locke initiated the effort after seeing how complicated it can be to navigate the...

In 1972, Phil Archuleta started P&M Signs in the rural community of Mountainaire, New Mexico. Back then, Mr. Archuleta probably didn’t know his company would be one of MBDA’s first and longest-standing clients but now nearly 40 years later he’s seen his company grow substantially, more than doubling gross sales and hiring 30 new employees along the way.  

Its minority entrepreneurs like Mr. Archuleta who inspired Representatives Mike Honda (D-CA), Nydia Velázquez (D-NY), Barbara Lee (D-CA) and Dale Kildee (D-MI) to sponsor a resolution (H. Res. 215) to recognize MBDA and its...