Recognizing that small firms often do not have the capacity to perform as a prime contractor on certain large contracts, the Department of the Treasury actively promotes the involvement of small business at the subcontract level. In accordance with Public Law 95-507, all contracts over $550,000 for supplies, equipment and services and $1,000,000 for construction must have a subcontracting plan approved by the Director, Office of Small Business Development or his designee prior to contract award. (Note: awards made to small business concerns are exempt from this requirement.) The subcontracting plan includes goals for subcontract awards to small, small disadvantaged, women-owned, HUBZone, service disabled veteran owned and veteran owned firms, and an annual report on what was achieved is submitted through SBA to the President.
The Department of the Treasury publishes an annual Small Business Subcontracting Opportunities Directory detailing the names, types of businesses, and subcontracting needs of our Prime Contractors. Small businesses are encouraged to contact prime contractors' small business representatives for prime buying needs for current and upcoming contracts.
Marketing Tips for Subcontracting Opportunities
- Contact prime contractors' small business representatives for prime buying needs for current and upcoming contracts. Market the prime contractor as you would other customers and remember that prime contractors have subcontracting goals to meet for small business participation.