Nevada Week S1 Ep31 Web Extra 3 | Local Resources for Small Businesses in Nevada

♪♪♪ (Kipp Ortenburger)
In the green room
we talked about this, and I want to talk
about this more. Contracts in general, contracts for
the Raider stadium, government
contracts also, big boons of money. We think of those as
being the most consistent type of income you could
have in a small business, but they do bring
a lot of troubles too. Shaundell, can you explain
a government contract or a contract
in general and some pitfalls
you might have. (Shaundell Newsome)
So with government
contracting, you have to understand
the process, and the process
works where one, you go in for what we call
a request for proposal, or in some cases
they do an RFQ, a request for questions,
and different ways they ask us
for information. So first when
we do a proposal, we spend probably
two to three weeks preparing
for that proposal. Once we get a proposal,
we sit and we wait until the decision
has been made on who is either the
winner of that proposal or possibly the last– what we call the last
ones for interview, so you’re being
short-listed. When you’re
short-listed, you go in
for an interview and you compete maybe
against two or three other firms, and that
process could take, you know,
a couple weeks. Then when you get
into maybe the third or fourth month is
when you get awarded and you have the
notice to proceed. So what people
don’t realize is it could be six months
before you actually get started on work,
and you might not get– depending on your
contract terms, you may not get paid
for another 60 to 90 days which is
almost a full year. So in the meantime
you still have to pay your employees,
your lights, your cable,
your internet. All of those expenses
are mounting up, and that’s why people
have look at it from a standpoint of having
that capital overlay. It looks like
you hit a jackpot, but actually you have
to pay all that back, pay your loans back, and then you start
making a profit. So it’s a little bit
of a journey. -And I’m wondering,
Marcel and Leanna both, what resources do we
have here in the state to educate small
business owners when they get
to that stage? So you have
a government contract. Now what do you do? Is there an education
program we have, Leanna? (Leanna Jenkins)
Well, there’s the
Governor’s Office of Economic
Development, GOED, they’re a tremendous
resource in the state to help you with that. Then you have the SBA and the Small Business
Development Centers, you have SCORE
and you have the Nevada Women’s
Business Center. We’re all there to help
support that first, and depending on
who you’re getting the contract from,
I know I’m working with MGM right now. They have a supplier
diversity program that we’re working
with a select number of mentees. We’re in our third session
or our third round, I should say,
of doing this, and it’s about an eight
or nine-month program where we’re working
with these people, these companies,
to help build them up to the next level
because again, just because you get
a contract doesn’t mean that, you know,
everything is wonderful. You have to know how
to manage the contract. So we work very closely
with the people who get the contracts
to teach them how to manage it and then how
to grow beyond that. -I have to give some props
to Nevada PTAC, the Procurement Technical
Assistance Center; is that the acronym? They’ve done a lot
of work over the years, and they actually are
one of those resources that we utilize
when they tell you how to do business
with the government. So the government entity
helps us to understand how to read contracts,
how to do the billing, also understand how to
work with the government. So that’s
extremely important when the government
reaches out and makes sure
that you’re going to be successful
on that journey. -And let’s talk
a little bit more about that too,
Marcel. (Marcel Schaerer)
I just want
to add to that. Again, if you look at
The Guide to Starting
and Growing a
Business in Nevada,
there are the
resources because there is
certification, contracts,
and what we call a capabilities statement,
and all the wonderful resources are there
to basically do an assessment
and sit down with you and basically
come as a team and help you build
that capacity. -And where does one
access those resources, is there a website
that we can mention? That is where
you access it, and it’s called
The Guide to Starting
and Growing a
Business in Nevada.
-Great. We’ll have links
on our website here at ♪♪♪

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