As small businesses and government contracts become larger, it is inevitable that businesses will face tough choices – grow beyond the small business programs to compete with large companies, stay small to avoid the difficulties of competing in a “full and open” environment, sell, or go out of business.
The House of Representatives passed legislation this August to help growing businesses in the government contracting arena, entitled the Small Business Runway Extension Act (H.R. 6330). The bill modifies the SBA reporting requirements to have businesses report their average earnings over the last five years, rather than three which will provide more certainty to small businesses as they ramp up their operations and grow over time.
GovEvolve has sent a letter to the leaders on the Senate Committee on Small Business & Entrepreneurship, Chair Jim Risch (R-ID) and Ranking Member Ben Cardin (D-MD) encouraging them to pass the legislation (S.3562) in the Senate.
Read GovEvolve's Letter of Support.