We know that small businesses are a critical source of employment and economic strength for communities in our district. That’s why our support for them extends beyond the procurement dollars we spend. We also work with local business owners to help them develop skills to be more competitive and grow.
We particularly focus on businesses in underserved communities, including those designated minority- and women-owned business enterprises (MWBEs).We host events where local MWBEs can learn about our supplier requirements, develop methods to better manage their businesses, and learn about approaches to creating new business opportunities in the region.
We network with local chambers of commerce and community groups to expand our pool of potential suppliers and ensure diverse business owners are aware of procurement opportunities with the Fed.
Through our procurement activities, we help spur economic growth in the communities we serve. To assess our impact, we track our spending with MWBE suppliers as a percentage of total expenditure. See details on our business spending.