Small Business Finance News
NIH Hosts Small Business Forum, Eyes Contracts From IT Entrepreneurs
Written by Jenna Weiner
Published: 11/22/2010
Federal agency to give funds to small businesses
One of the leading government agencies recently announced that it would be reserving some of its resources for small IT companies, many of whom have a difficult time competing with larger companies.
The Washington Post reports that the the National Institutes of Health is planning to give entrepreneurs a leg up on bigger competition by creating a small-business-only procurement track. At a recent small business industry event hosted by the NIH, more than 500 businessmen and women gathered to hear about potential opportunities.
Many in attendance were waiting to see how successful the NIH would be in funnelling money toward small business owners.
"I think it's too new to gauge what the overall small business community reaction to it is right now," said David Metzger, a partner in the government contracts group at Arnold & Porter, in an interview with the paper. "I think they're grateful that at least NIH got the message."
While the federal government often makes small business contracts a priority, some large corporations have been caught illegally getting funds. In the latest news for small business, the U.S. Small Business Administration suspended EG Solutions and MultimaxArray First Source from bidding on new federal contracts.
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