Law makers: Expanding Contracting Opportunities for Small Businesses Fosters Job Creation

Law makers from Small Business Committee recently said that with the right tax incentives, and expanding contracting opportunities to small businesses will expand their operations and they in turn hire more workers.

According to a member from small business committee, when large corporations win federal contracts, they work with existing workforces on the project, but, small businesses hire people when they get work.

Entrepreneurs have recently said that even as federal spending has climbed in the last ten years, many small firms struggling to get their fair share of federal contracts. They said that federal agencies missed their small business contracting goals by $10 billion in the last year and if that amount went to small businesses, they could use those funds to expand their operations and bring on new employees.

Lawmakers on the House Committee on Small Business recongised the problem of large companies gaming the system to win contracts meant for small firms.