Billions of Federal Dollars Come Into Alaska – How does Black Owned Businesses get a piece of the pie?
The subject of federal funds coming into Alaska has and is a topic people discuss frequently. The question is how can we get a piece of the very large pie?
First, federally granted money has strings (requirements) for obtaining the money by the bygrantee (recpient). The federal government does not just write a check to the grantee. Depending on the legislatively granted funding agencies, those requirements vary.
The competitive contracting process is the mechanism Federal, State and Municipal governments utilizes to advertise available opportunities. The interested businesses then bid/submit their proposals. At the time of bidding, the business must be qualified – ready, willing and able to do the work. They must have the capacity (size), proper insurance, bonding licensures, credit line, and staff to successfully perform.
Businesses also must perform the type of work the grantee is seeking. For example, a business is a Yoga Studio. Honestly, this is not a business that would be qualified or interested on bidding on a road construction project.
Individuals who do perform the type of work needed will want to ensure they are ready when contracts are let. Fortunately, there are many resources in the community that can educate and assist. Some include the Small Business Administration, Veterans Business Outreach Center, Alaska Women’s Business Center, PTAC/Alaska Apex Accelerator, Business Impact Northwest. Reach out, give them a call and make an appointment. They are waiting to assist you.
