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Driving Success for Black American Owned Small Businesses

Posted by Unison Marketplace Team on Feb 3, 2021 2:44:50 PM

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The past year has been tough on small businesses working to stay afloat through the COVID-19 pandemic. This has been especially true for Black American owned small businesses. A recent survey of small businesses by Goldman Sachs reports that, more than any other demographic, the Black American business community has been slow to recover, with 30% of respondents stating a pre-COVID business recovery of 25% or less. As we enter Black History Month, it’s important to consider opportunities to strengthen this community.

While the new administration has committed to fulfilling an equitable “promise of America for Black families and communities and for all Americans” as it addressed Black History Month, there is a pressing urgency. A few weeks can make the difference between business survival, laying off employees, or folding. Fortunately, there is a system in place that gives Black American owned small businesses a fair opportunity to not only survive, but to grow.

Directing the government’s spending dollars to American small businesses is a central goal of federal contracting. And the Federal Acquisition Regulation (FAR) is in place to ensure that opportunities are provided equally. Unison Marketplace has had a front-row seat to witness the high ethics observed by federal contracting officers. Through our platform, over $51M of awards were made to Black American businesses in 2020.

And there is hope for 2021. Successful businesses followed these steps:

We know that when provided access to opportunities, the Black American small business can compete, win, and perform contracts well. Through our partnership and contracts with federal agencies, Unison Marketplace is proud to support this community. Register as a seller for access to contract opportunities here.

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Topics: Marketplace