Corporate Law
Minority Business Enterprises and the Construction Industry Part 4
Over the next few decades, minority business enterprises (MBE) will continue to grow at a rapid rate. From securing lucrative contracts to enjoying economic growth, minority-owned businesses will be involved in the construction industry more and more in the present day and well into the future. In this four-part article, in sections one, two, and three, our Jacksonville construction attorneys have covered many aspects of MBEs including federal legislation, eligibility requirements, and several challenges that minority-owned firms have to overcome to procure projects.
In this final section, we will discuss a few ways that MBEs can enjoy a competitive edge over the competition and procure contracts with government agencies. Remember, for any of your construction legal needs, including procuring government contracts, speak with a Jacksonville construction attorney today.
Working With Membership Organizations
When procuring government contracts, it’s important to showcase any unique qualities your company possesses to separate you from the pack. For businesses that qualify as a minority-owned firm, you can not only partner with the Minority Business Development Agency (MBDA), but also the National Minority Supplier Development Council (NMSDC). With 23 affiliate regional councils nationwide, NMSDC works with certified minority-owned firms and connects them to business opportunities with “public and privately owned companies as well as universities, hospitals and other buying institutions.”
From becoming MBE certified to corporate membership opportunities to accessing the NMSDC network, minority-owned businesses have a lot of great opportunities in the construction industry that NMSDC can assist them with.
Networking Opportunities
If your company meets the MBE standard, you should look into certification today. It’s also important to always remain active on the local level and attend government and chamber of commerce meetings. Many of these programs are designed to help strengthen MBEs and provide them with networking opportunities that can help MBEs procure contracts, gain knowledgeable business advice, and make excellent contacts in the process. For Florida residents, the Minority Chamber of Commerce is a great place to start.
Building for the Future
As we enter a new generation of construction, many of the traditional aspects of the industry are evolving. From technology to building practices to the business owners that are paving the way, it’s an exciting time to be involved in construction as we work on groundbreaking projects, generate increasing annual revenue, and create more jobs than ever before. From the local level to the federal level and beyond, we can collectively benefit the community by providing more opportunities for minority business owners to work on projects and help improve our infrastructure in the process.
If you would like to speak with a Jacksonville construction attorney, please contact us today.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.