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FEATURED ARTICLES, Media Outlet

To Keep Winning Federal Contracts, Small Businesses Say They Have to Spend More

Small businesses upped their efforts to bid on federal contracts, reporting a 72 percent increase in time and money devoted to winning a share of the government’s $90 billion procurement budget, according to the latest annual survey from the American Express OPEN for Government Contracting initiative.

Though overall federal contracting is down 19 percent in fiscal 2015 from fiscal 2010, the survey—completed last summer but released last month—found that, on average, small businesses spent $148,124 in time and money to bid for federal work. That’s a 72 percent increase over the past six years, and a 15 percent increase since 2013.

Source: To Keep Winning Federal Contracts, Small Businesses Say They Have to Spend More – Contracting – GovExec.com

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