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The distinction between independent contractor and employee is an important one in the United States, as the costs for business owners to maintain employees are significantly higher than the costs associated with hiring independent contractors, due to federal and state requirements for employers to pay FICA (Social Security and Medicare taxes) and unemployment taxes on received income for ...
The Small Business Administration released its annual scorecard measuring how well federal agencies meet their small business contracting goals each year. Overall, the federal government has a ...
Multi-year contracts generally lower the risk for the contractor, and thus the unit price paid by the Government. One way to look at this situation is that a multi-year contract contains a real option for the contractor to escape the uncertainty associated with a sequence of single-year contract negotiations (analogous to a put option). Real ...
With $48.666 billion in business with the U.S. federal government, Lockheed Martin, based in Bethesda, Maryland, is the largest U.S. federal government contractor. The Top 100 Contractors Report (TCR 100) is a list developed annually by the General Services Administration as part of its tracking of U.S. federal government procurement.
32-year-old Taelor Salmon is the CEO of a government contracting company called TJS Group. She said around 50% of her contracts come from funds set aside for socially disadvantaged businesses.
The industry grew by 2.1 percent that same year. Consulting is often offered by small business owners who work with multiple businesses in a specialized field of expertise, such as marketing or ...
IDIQ contracts are frequently awarded by various U.S. government agencies, including the General Services Administration (GSA) [6] and Department of Defense. [7] They can be in the form of multi-agency contracts under the Government-Wide Acquisition Contracts (GWAC) system, or they may be government agency-specific contracts. [8]
Since 2002, a series of federal investigations have found fraud, abuse, loopholes, and a lack of oversight in federal small business contracting, which has led to the diversion of billions of dollars in small business contracts to large corporations. Another problem for many small businesses is termed the 'Entrepreneurial Myth' or E-Myth.