Ep. 189 Unlocking the $178 billion-dollar small business market.

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Robb Wong helps clients at Deep Water Point & Associates better understand the U.S. Small Business Administration. They recently announced that Fiscal Year 2023 had a record-high 28.4 % of federal contracts to small businesses.

Robb is in the perfect position to help. He has started several small businesses and was appointed associate administrator at the Office of Government Contracting & Business Development in the U.S. Small Business Administration.

This experience makes him the perfect person to help listeners understand existing rules and proposed rules to help them develop the federal technology business.

Here are four highlights of the conversation:

He emphasized the importance of adapting to proposed SBA rule changes, which could alter small business strategies for 2025. Wong advocated for increasing the 8(a) sole source limit to $8-10 million and suggested gradual transitions for mentor-protege joint ventures to maintain small business participation.

He also called for government support to cover the prohibitive costs of CMMC certification.

Encourage clients and the industry to participate in the rulemaking process and provide comments on the proposed changes.

Prepare small businesses for the changes to the mentor-protege program, which are expected to be implemented in early 2023.