Sharing the wealth: Procurement fair seeks to match small businesses with big opportunities - Memphis Commercial Appeal

Photo by Mike Brown

U.S. Rep. Steve Cohen sponsored a procurement fair Monday at the FedEx Institute of Technology at the University of Memphis.

Small business can mean big dollars, at least for savvy entrepreneurs who bid on and win lucrative government contracts.

To help local small-business owners capitalize on the process, U.S. Rep. Steve Cohen on Monday sponsored a procurement fair at the FedEx Institute of Technology to explain the process. More than 150 area entrepreneurs were on hand for the public forum.

Photo by Mike Brown

Leslie Shankman-Cohn (left) and Jill Hertz, with Jill Hertz Interior Design, were among more than 150 entrepreneurs at the fair.

In addition, representatives from nine federal agencies discussed offerings and options available to small-business owners who are interested in becoming government vendors.

"The federal footprint and its potential impact on small businesses is significant," said Eric Terrell, customer service director at the U.S. General Services Administration. "The government spends more than $600 billion every year on goods and services. How can you not tap into that?"

Saundra Jackson, state deputy director for the U.S. Small Business Administration, agreed.

"The government buys everything from paper clips to armored tanks, so there's a good chance that whatever goods or services you're selling, the government buys it," Jackson said. "Nearly 25 percent of the government's purchasing is targeted to small firms, so we encourage owners to learn the system and become involved in it."

The problem many small-business owners face is not knowing what's out there, Cohen said.

For example, fewer than 50 vendors in Memphis have secured government contracts to provide IT services, but thousands of those contracts are awarded every year. Other needs include food vending services, office furnishings and floor coverings, facilities maintenance and management, and advertising and integrated marketing solutions.

Monday's event followed the recent announcement that Memphis will be home to the state's first Minority Development Business Agency center -- funded by a $1 million federal grant to be paid out over four years -- that is set to open in about six weeks. It will be housed Downtown at the Mid-South Minority Business Council Continuum's small-business incubator at 158 Madison.

Minority and female business owners are encouraged to contact MMBCC leaders at (901) 525-6512 to learn more about accessing government contracts, said Luke Yancy III, president and CEO of the MMBCC. And all small-business owners should contact the local SBA office at (901) 526-9300, Jackson added, to find out about its free programs and how to work with federal agencies.

"Small businesses are the heart of our economy and of our middle class," Cohen said. "It's important to move forward and help those businesses grow and this is one way we're trying to do that."

-- James Dowd: (901) 529-2737

Learn more about small businesses and entrepreneurship in Memphis at The CA's startupmemphis.com

Federal Agency contacts for small business owners

Dept. of Energy: energy.gov

Dept. of Homeland Security: www.dhs.gov

Dept. of Transportation: www.dot.gov

General Services Administration: gsa.gov

Minority Business Development Agency: www.mbda.gov

National Geospatial-Intelligence Agency: www.nga.mil

Small Business Administration: sba.gov

U.S. Army Corps of Engineers: usace.army.mil

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