SBA, USDA Rural join to help rural business communities in Puerto Rico
In 2022, the Biden administration mandated that federal agencies allocate 12% of their procurement needs to socioeconomically disadvantaged small businesses.
To support economic development in rural Puerto Rico, the U.S. Small Business Administration (SBA) is collaborating with the U.S. Department of Agriculture Rural Development on events titled “Federal Contracting Assistance for Your Business.”
The free events will take place on Aug. 20 at Inter American University of Fajardo and on Aug. 22 at the Ponce Regional Office of the Department of Economic Development and Commerce.
In 2022, the administration of President Biden mandated that federal agencies allocate 12% of their procurement needs for goods and services to socioeconomically disadvantaged small businesses. The policy results in billions of dollars in preferential contracts annually.
The SBA will offer guidance, technical assistance and access to federal procurement representatives to help businesses compete for government contracts that can boost revenue and growth.
“Most businesses in rural communities are socioeconomically disadvantaged, which represents a great opportunity for local business owners to be trained to be certified and to consider opportunities to diversify their business development with federal contracts that could mean a major expansion in their businesses that, in turn, will exponentially incentivize the Puerto Rican economy, more job opportunities and new income for the firm that wins a contract,” said Josué E. Rivera, SBA district director for Puerto Rico and the U.S. Virgin Islands.
“With this series of trainings in collaboration with the U.S. Department of Agriculture (USDA), we jointly seek to increase the participation of Puerto Rican small businesses in these segments. We also want to carry a message that the services, products manufactured and made in Puerto Rico are made in America,” he added.
USDA Rural Development will offer advice on increasing success in federal contracting, including aligning proposals with requests, understanding contract terms and partnering with the federal government.
“It’s important that the business community of Puerto Rico is aware of business opportunities directly with the agency,” said Maximiliano J. Trujillo, state director of USDA Rural Development in Puerto Rico. “This series of events is that first conversation about how to expand your business possibilities with USDA.”
The events, running from 8 a.m. to 2:30 p.m., will be conducted in Spanish and feature participation from the SBA, USDA Rural Development, and the Small Business and Technology Development Center, among other organizations. The USDA Rural Development will hold another session on Aug. 23 at its Mayagüez office, also from 8 a.m. to 2:30 p.m.
Attendees will have the chance to engage in business training programs and one-on-one meetings to explore capital access through SBA partner financial institutions.
Procurement officers from the U.S. Army Corps of Engineers, APEX Accelerator and the Minority Business Development Agency will also hold one-on-one meetings with participants.
Interested parties should register for the Fajardo and Ponce events, and can find additional information on the SBA’s website.
