History Of The Small Business Program - 1500 Words

Introduction This paper will cover the various topics: the history of the small business program, explain the small business set-aside program, assess the dollar threshold for small business contracts, the purpose of source selection evaluation plan, and ranking of criteria for the scenario. History of the Small Business Program In 1932, President Hoover tried to mitigate the Great Depression by creating The Reconstruction Finance Corporation (RFC). The purpose of the RFC was to try to help businesses no matter what size large and small by providing federal funds. In 1942, Congress created the Smaller War Plants Corporation (SWPC) to help small businesses during World War II. Funds were provided to financial institutions to help give†¦show more content†¦Which resulted in the creation of The Competition in Contracting Act of 1984. Its purpose is to allow small businesses to compete to win federal contracts due to competition, which resulted in lower cost. According to SBA (2002-2010): â€Å"Small businesses make up: 99.7 percent of U.S. employer firms, 64 percent of net new private-sector jobs, 49.2 percent of private employment, 42.9 percent of private-sector payroll, 46 percent of private-sector output, 43 percent of high-tech employment, 98 percent of firms exporting goods, and 33 percent of exporting value (p1). The bedrock of America’s economy is small businesses. The United States has about 27.9 million small businesses in the year 2010. Small businesses make up the majority share of employers in the United States this is one of the reasons why the SBA was established. Small Business Set-Aside Program The Small Business Set-Aside Program (SBSA) had another name, which was Small Business Preference Program the purpose of the program was to help small businesses obtained government contracts this was one of the oldest programs created. The agency contracting officer has to do a market survey and review the procurement history of the business on every business they feel deserves the Small Business Set-Aside Program. There are two types of set-aside programs. They are Total-set aside and Partial-set aside. According to Compton (2010) â€Å"Total set-aside are acquisitions that