Government Contracts for Hispanic Businesses

Once your business is registered, you have the option of competing for federal contracts. Currently, the federal government sets aside about $500 billion for federal contracts, according to the U.S. General Services Administration. Approximately 23 percent of those federal contract dollars is targeted for small businesses, while 5 percent is targeted for disadvantaged businesses. The government also offers contract opportunities for businesses with particular designations, primarily businesses owned by women, by members of minority groups or by military veterans. In order to be considered for a minority contract, a Hispanic business owner must also obtain a certificate recognizing this designation, according to the U.S. Small Business Administration. Once you are certified by the government as a minority-owned business type, you are eligible to apply for a minority contract. Community Support Although there is no formal way to apply for minority business certification, it is possible to register a business through a non-government organization or certification agency. These groups often offer additional benefits, like networking events, training programs and business fairs to help Hispanics and other minority business owners expand trade. Below are some useful links to help get you started: For more information: U.S. Department of Labor. and, U.S. Department of Commerce. To register and certify your business: Registering your business with the SBA. Getting certification as a minority business. and, Small business certifications. Minority Business organizations: Minority Business Development Agency (MBDA). The MBDA is the only federal agency created specifically to foster the establishment and growth of minority-owned businesses in America.; Part of the U.S. Department of Commerce. National Minority Supplier Development Council. Provides a link between corporate America and minority-owned businesses.