The Small-Business Guide to Government Contracts: How to Comply with the Key Rules and Regulations and Avoid Terminated Agreements, Fines, or Worse

The Small-Business Guide to Government Contracts: How to Comply with the Key Rules and Regulations and Avoid Terminated Agreements, Fines, or Worse

The Small-Business Guide to Government Contracts: How to Comply with the Key Rules and Regulations and Avoid Terminated Agreements, Fines, or Worse

The Small-Business Guide to Government Contracts: How to Comply with the Key Rules and Regulations and Avoid Terminated Agreements, Fines, or Worse

Synopsis

Each year, the federal government awards billions of dollars in small-business contracts. It's both the lifeblood of hundreds of thousands of companies and a quagmire of red tape. One misstep can result in hefty fines, cancelled contracts - even jail time.

The Small-Business Guide to Government Contracts putsa wealth of specialized legal counsel at readers' fingertips. It's the one book that looks beyond winning a piece of the $500 billion pie and concentrates on the crucial but complex Federal Acquisition Regulation (FAR) and other rules required for keeping the contract alive and avoiding penalties. Clear answers to the most important compliance questions are inside, including:

• Is a small business really small?

• Who is eligible for the HUBZone, 8(a), SDVO or

WOSB programs?

• What salaries and benefits must be offered?

• What ethical requirements must be followed?

• When does affiliation become a liability?

No one can afford to be lax with the rules or too harried to heed them. This book helps contractors meet their compliance obligations - and keep the pipeline flowing.

Excerpt

Imagine your small business losing millions of dollars in lucrative contracts, paying heavy fines, or even being prohibited from selling to your largest customer—all for violating rules you didn’t know existed. It sounds like a nightmare, but when it comes to doing business with the federal government, it is a reality countless small business owners face.

If Uncle Sam is one of your small business’s customers, you’re not alone. the federal government spends $500 billion annually to buy goods and services from contractors, and thanks to special rules requiring agencies to award contracts to small businesses, nearly a quarter of those procurement dollars go to small companies. Contracting with the government can be lucrative—but if you don’t know the key rules and regulations, it can also be very risky.

When the government is your customer, you must learn a whole new rulebook, very different from the one you may be used to in the commercial marketplace. It’s a big rulebook—thousands of pages of dense text, spread out over a hodgepodge of federal statutes and regulations. And, as counterintuitive as it sounds, the rules are actually more complex for small businesses than for large companies. Not only does your small business have to follow most of the same government contracting regulations as big players such as Boeing, Lockheed, and ibm, but you must also obey a special set of regulations that apply only to small business contractors.

Of course, behemoths like Boeing have in-house legal departments to help them navigate their way through the regulatory maze.

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