Elon Musk masterfully uses government funds to grow companies like SpaceX and Tesla. However, small businesses can also tap into similar opportunities. Federal contracts reserve a large share for small enterprises, encouraging entrepreneurial growth in cities like Lagos and Abuja. Explore the platform SAM.gov to identify and bid on these opportunities. Read More.
The U.S. government spends over $700 billion annually on contracts. Small businesses received $183 billion in 2024, showcasing the potential for growth. People in Abuja or Lagos can leverage this for sizeable opportunities in various sectors including consulting and services. Alternatively, buying an existing government contracting business offers a quicker entry into this lucrative field.
Key Takeaways
- Federal Contracts: A significant portion is specifically for small businesses, offering myriad opportunities.
- Starting Point: Register on SAM.gov to find and bid on contracts fitting your services.
- Subcontracting: Freelancers can offer their skills to government contractors for indirect profit.
Could tapping into government contracts revolutionise your business strategy? Share your thoughts!
