Assignment 3: Encouragement of Small Business Due Week 6 and worth 300 points The encouragement of small business is an important goal of government that is addressed by the FAR. The government is...

Running Head: SMALL BUSINESSES 1
Small Businesses
Running Head: SMALL BUSINESSES 2

Introduction
Small businesses are playing an important role in the development of countries because
of governmental attentions and their infrastructure. These organizations have not sufficient
amount of finance or capital by that they could invest in the improvement of their infrastructure
for growing their resources. But their small size also helps them to gain the significant growth
and development among the group of related societies and communities people because the local
government and other governing authorities also plans the significance policies for SMEs that
help them to implement their strategic business strategies and to change and improve the societal
structure of the countries.
In some countries such as UK, SMEs plays important role in the comparison of bigger
organization. It is because that these small organizations serve the bigger organizations by
providing their help in the completion of some specific task. Hence, it could be also stated that
SMEs works as strategic partner that contributed positively in the development of country.
Hence, the federal government has made the several rules and legislation for promoting the
SMEs and their functions effectively. Hence, the federal government has made several
procurement policies.
Hence, this paper would assess the socio-economic considerations with the help of
federal procurement process. At the same time this paper would also distinguish between private
financing and contract financing with the help of loan guarantees and also find out the impact
each of each financial process and terms on the minority vendor in the sense of positive impact
and negative impact. This paper would also determine the protections that protect the diverse
contractors for protecting his or her intellectual property. In the end, this paper would be
analyzed the “title policy vs. license policy” with the help of FAR’s part 27.
Running Head: SMALL BUSINESSES 3

Federal Procurement Process
At present, federal procurement process for small business is basically depend on a
contract that are handled and governed by several regulatory and statutory requirements. It
includes the Federal Acquisition Regulation (FAR) that sets several procedures in detailed
elated to virtual characteristics (Federal government contracts, 2013). It is because that the small
usinesses have not the sufficient resources for completing their objectives and aims. For this
they make the contract with those suppliers that have the huge experience of work in that market.
At the same time, their less knowledge about the function of market and contract rights and
procedures, they could make the less effective contract that could affect their profitability in the
concerning market. Hence, the entire regulations of federal procurement process generally
include competitions and notice along with contract management and competition. In addition,
the federal government agencies use sealed bidding and competitive proposals for competitive
id procedures (Federal Register, 2012). The process of federal procurement includes the interim
iles and regulations that is described by the NASA, GAS and DoD. These entire policies are
used for implementing the section 1347 of act 2010 related to small business jobs.
The small businesses have their own interested to pursue the federal contracts. It is
ecause that the federal contract describes several options by with the small organizations
epresent their organization for potential buyers, for searching the marketplace to get the
available benefits, and development of understanding towards the competition and its process
(Federal government contracts, 2013). Hence these process of federal government also
encourages the small business owners to make significance contracts to get the valuable
esources.
Running Head: SMALL BUSINESSES 4

The federal procurement framework also includes the contract formulation, solicitation,
costs, the term of payment, financial terms, and financial parties for providing the finance, the
involvement of administration and the closeout. The framework also provides the opportunities
to contractors that are listed on the sites of federal rules and regulations (National Academy of
Sciences, 2013). It is a basic requirement of federal agencies for using the site for making
significant communicates with the small business owners regarding the availability of
procurement opportunities and the requirements of the vendors related to public and potential
vendors for the contract values.
These agencies also post the solicitations that could be related to the contract resources
on the websites of ASFI and Di
s. These sites also describe the deadline for small organizations
for submitting the offers. The personnel of government agencies evaluate the submissions of the
vendors by the help of source selection method and solicitation criteria. These sites also facilitate
the small business organizations by make the availability of multiple suppliers, schedule for the
supply of resources, and agency awards for making the profitable contract with the contractors
(Justia, 2013).
Although, the process of federal procurement is simple on the basis of its theoretical
nature but the request for any procurement or quote for making the significant contract could be
complex in its nature. It is because that it includes several dimensions related to action and
decisions. For helping the small business organizations, federal contracting...