Small business is benefiting from defense related contracts, as seen in this Department of Defense release.
“Prime contract awards during fiscal 2003 to U.S. small business concerns totaled $42.0 billion, compared with $33.3 billion for 2002. Defense awards to all U.S. business firms totaled $187.5 billion during 2003, compared with $157.1 billion during 2002. Of the $187.5 billion awarded by the DoD to all U.S. business concerns during 2003, 22.4% of the awards were made to small business concerns, versus 21.2% in fiscal 2002. The increase is attributed to greater small business participation in acquisitions related to ships, services, construction, commercial items, and other major hard goods.”
This article was highlighted by the National Dialogue of Entrepreneurship.
Dr Jeff Cornwall
Co-founder of The Entrepreneurial Mind, serial entrepreneur and professor of entrepreneurship.
Defense Spending Benefits More Than Just Halliburton
Jeff Cornwall points to some data showing that government spending on defense is good for small business. We already knew it was good for knocking off mass-murdering dictators and keeping us safe, so this is just bonus good news….