Small-Business Preference- FEDERAL CONTRACT ADMINISTRATION AND Term Paper

Small-Business Preference- FEDERAL CONTRACT ADMINISTRATION AND MANAGEMENT - Term Paper Example Under this 23% of all prime government contracts, 5% will have to reach small businesses operated by the disabled, 5% must be given to small businesses operated and managed by women, 3% to small businesses that are operating in HUB Zones (Larence, 2005). HUB Zones are regions which are economically disadvantaged. The Small Business Administration Agency is therefore mandated to implement this policy by the congress. In my case above, there are two main programs operated and managed by the Small Business Administration Agency that can help me in operating, and managing my business organization, and in getting contracts from the federal government (Larence, 2005). One program is referred to as the small disadvantaged business program, commonly abbreviated as SDB. Under this program, a small business can participate in sub-contracting programs of the federal government, or even in the actual process of getting contracts from the federal government. This is beneficial to my organization because it may manage to get prime contracts from the federal government, at the expense of very large firms such as Lockheed Martins (Skrabec, 2012). It is important to denote that some of these contracts that the federal government intends to give to small businesses are lucrative and if given a chance, big organizations such as Lockheed Martin’s will compete for them (March, 2012). For a small business organization to be eligible in this program, it must have the following characteristics (Larence, 2005), The organization under consideration must be owned and managed by a person who is in a disadvantaged position, either economically or socially. This includes all aspects of physical handicap, residing in an area that is economically disadvantaged, or coming from a social group that is socially and economically disadvantaged, such as the blacks, the Hispanics, etc. This people must