President Obama recently signed into law new provisions to increase the percentage of federal dollars spent with small businesses with Government Contracts.
2012 was the eleventh year in a row that the federal government missed its small-business procurement goal. Federal agencies are tasked with spending at least 23 percent of their budgets with small businesses but consistently miss this mark.
Last week, President Obama signed into law a series of provisions meant to address this problem. One provision will now include small-business contracting performance as a factor in determining bonuses and raises for senior officials at federal agencies. Another provision discourages contract bundling, where several smaller contracts are awarded together, a practice that caters to large companies at the expense of small businesses.
About Mike Periu
Mike is a seasoned executive with experience in small business finance and management. He is the founder of Proximo, LLC a leading provider of corporate, consumer and small business education and training services with an emphasis on finance and technology.
Mike Periu is also a leading national voice for individual empowerment through financial education and entrepreneurship. He has been interviewed over 500 times in national and international media, including NBC, Univision, CNN en español, Telemundo, HITN, TVE, RTE, SBS, MegaTV and others.
Mike writes regularly for American Express OpenForum, Yahoo! Finanzas and is a Huffington Post contributor.
Mike has degrees in Finance and International Business from Georgetown University. He is on the Board of Directors of the Council for Economic Education and was a Fellow at the Kauffman Foundation’s Labs for Enterprise Creation.