Did You Know?

The Biden Administration has taken significant steps to enhance the participation of small businesses in
federal contracting, particularly through the expansion of the “Rule of Two” to multiple-award contracts.
This is especially important as an increasing number of contracts are being awarded through these
government-wide acquisition contract and multiple-award contract vehicles, reaching an all-time high in 2023. A recent independent, 3rd party report showed that almost 55.8% of all awards went through a
contract vehicle with the GSA OASIS and NASA’s SEWP V, seeing record awards of $13.4 billion and $10.5 billion, respectively. GSA says its schedules contract saw a record $46 billion in sales for 2023, a $4.6 billion increase over 2022.

The “Rule of Two” is a provision in Federal Acquisition Regulations (FAR 19.502-2) that requires that if
there are at least two small businesses that can offer their services at fair market prices and terms, the
government must set aside the contract specifically for small businesses. This rule traditionally applied
to single contracts but now, with the new directive, extends to task and delivery orders under multiple-
award contracts as well.

Key Changes Include:

• Application of Rule of Two to Task and Delivery Orders: The Office of Management and Budget (OMB) has directed federal agencies to apply the Rule of Two when issuing task and delivery orders under multiple-award contracts. This directive seeks to increase small business participation significantly by making it mandatory to consider small businesses for these orders unless specific exceptions apply.
• Documentation Requirements: If an agency decides not to set aside an order for small businesses, contracting officers must now document their reasoning in detail. This includes showing the market research conducted, the rationale for the contract vehicle selected, and inputs from agency small business specialists.
• Long-term Strategy and Regulatory Updates: The Small Business Administration (SBA) and the FAR Council are working on regulatory amendments to firmly establish these changes, indicating a long-term strategic shift towards enhancing small business access to federal contracts. There are even ongoing efforts by the House Small Business Committee to codify the rule, making it a permanent law requiring set-aside considerations for small businesses prior to contract release.

These adjustments are part of a broader initiative under the Biden Administration to empower small
businesses and ensure they have greater access to the vast market of federal contracting. This
expansion of the “Rule of Two” is seen as a crucial step in creating a more inclusive and accessible
contracting environment for small businesses across the country.

What Will it Allow You To Do?

Once the final rule is promulgated, it will empower RMSDC Councils to directly impact the availability of
opportunities to member companies within the same NAICS code and interested in competing for
Federal contracts.

Pursuant to FAR 19.502-3, a small business set-aside “shall not be made unless such a reasonable
expectation exists” that they will receive “offers from at least two responsible small businesses
concerns… at fair market prices.” With the intimate knowledge of its member companies and
communicating opportunities among other Councils, Presidents and member companies will be able to
send correspondence to agency contracting officers that identifies at least two “responsible small
business concerns” that are available to submit offers at “fair market prices” and therefore triggering a
set-aside. This includes a deferential provision to FAR 19.203, which prioritizes set-asides for 8(a),
women owned, service disabled veteran, and HUBZone firms.

You can find a copy of the memo from the Office of Management and Budget (OMB) here.

Brittany Hale is an undefeated trial attorney who pivoted toward providing businesses with proactive leadership and organizational design solutions. She’s taught “Managing Human Behaviors in Organizations” at an Ivy League institution and provided business solutions for startup and enterprise organizations alike. 

As a trusted guide, she enables leaders to navigate intricate organizational transitions by operationalizing aspirational values. She has been featured in publications such as Cosmopolitan, Marie Claire, Essence, TechCrunch, and Fast Company for her insights into entrepreneurship and leadership.

Brittany has crafted impactful organizational culture strategies for numerous entities. Her strategic insights led to a 21% increase in employee retention and savings of an additional $400,000 through astute operational advisement. As Interim CEO of an entrepreneurial-focused nonprofit, Brittany achieved impressive milestones, increasing donor contributions by 16%, reducing attrition from 27% to 0% in just 14 months, and boosting research-based revenue by a substantial 41%. 

About BND Consulting

At BND Consulting, we harness the power of values to ignite better decision-making. 

If you’re here, it’s because you know that impactful leadership is the foundation for inspiring innovation within your teams. 

Perhaps you’re seeking guidance from a leader who is well-versed in transitional and crisis leadership as you navigate the complexities of a rapidly changing environment. 

Or maybe your organization is experiencing rapid growth and you want to ensure that it has the solid infrastructure to withstand and thrive in this exciting phase.

If any of these resonate with you, you’ve come to the right place. At BND Consulting, we are here to bridge your understanding and guide you on your leadership journey in a safe and judgment-free zone.

Partnering with BND Consulting Group means developing effective leadership, investing in your business’s success, and creating a resilient organization. Your success is our success, and we are committed to helping you unleash your full potential.

What does being a minority business, or supporting minority businesses, mean to you?

Being a minority business means continuing the legacy of redefining the lore of a brilliant business leader. Our communities have built generational wealth in spite of attempts to impede our contributions to the workforce. I am proud to be a Black woman-owned business that provides innovative solutions to complex problems. 

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For more information on BND Consulting, please visit: bndconsulting.group or follow their social media: Instagram and LinkedIn.

Cathleen Trigg-Jones is a social entrepreneur and executive with a background in journalism, multi-media production, public relations, marketing, public speaking, and executive coaching. She has created and led three independent media companies and is a strategic marketing, crisis communications, and business consultant for global CEOs and Fortune 500 companies.  

Cathleen began her career as a news reporter for WBOC-TV before becoming Press Assistant to U.S. Senator Joseph R. Biden, Jr. in his Delaware Senate Office. After returning to television, she worked her way up through the ranks of several news markets, eventually landing her dream job in New York City where she was quickly recognized for her quality journalism, winning an Emmy Award and anchoring the WWOR and WNYW news broadcasts. 

Since that time, Cathleen has produced hundreds of projects and co-starred in more than two dozen TV shows and films, including Power, Madam Secretary, House of Cards, Homeland, and the Tupac Shakur biopic, All Eyes On Me. She is the  Executive Producer and Host of the award-winning iWoman Report on iWoman TV, and of the talk show Chic Chat, which aired on iOne Digital. She is also the creator and co-star of the hit docu-series We Are The Joneses, which aired on Discovery Life and BET Centric.  

From the start, Cathleen has been grounded by her core values of integrity, clarity, compassion, and drive. In addition to her Emmy Award, she has been honored with the Black Women In Media Award, A Child’s Hero Award by CASA of Essex, NJ, and the BMW Women of Excellence Award. She was also nominated for the Women’s Image Network Award.  

In 2006, Cathleen created the Trigg House, a nonprofit, direct-service organization that offers resources to children who are about to become emancipated from the state foster care system to help them make a smooth transition into the real world and independent living. Having experienced the foster care system as a child, she recognized a deep and growing need for energetic nonprofit work to create sensible solutions in this area. She is a New York State Court Appointed Special Advocate for Foster Children and serves on the boards of Operation Keloid, the Columbia University Double Discovery Center, and the Black Entrepreneur Initiative.  

Cathleen is a dynamic executive with demonstrated success building and leading complex projects and organizations. Her businesses are certified by the NY & NJ Minority Supplier Development Council and by New York State as Minority Women Business Enterprises. She received her BA in Journalism from Delaware State University.

About iWoman TV

iWoman TV is the only 24-hour digital streaming news and entertainment network focused on delivering everyday news, sports, and entertainment through a female lens! Based in New York City, iWomanTV is an over-the-top (OTT) digital streaming and linear channel reaching millions of households. iWoman Studios is also a full-service multi-media production company providing B2B and B2C services such as television and production, virtual event production, marketing, PR, and social media management.   

Founded by Emmy Award-winning journalist, actress, producer, motivational speaker, and success coach, Cathleen Trigg-Jones, iWomanTV is not just another network, it is a movement to change the way the world views women, by putting more women to work in key roles in front of and behind the camera. In a world where women dominate global consumer spending by as much as 85%, iWoman TV is the only combined AVOD and SVOD streaming network dedicated to licensing and producing original programming, including news, entertainment, health, business, politics, and sports content through the lens of women.   

Representation matters and iWoman TV is on a mission to close the gender gap across all industries by highlighting the accomplishments of women and celebrating the companies who put their money where their mouth is when it comes to hiring and promoting women.   

Women contribute $38 trillion to the economy, yet earn an average of $0.55 on the dollar compared to their male counterparts in the United States, and even less globally. iWoman TV is determined to change the narrative by highlighting the disparities and showcasing the many accomplishments and talents of qualified women. In addition to our founder’s more than 25 years of experience in the news and entertainment industry, the advantage our team has over many other OTT startups and networks is our production, marketing, and social media capabilities, as well as our influencer relationships.

What does being a minority business, or supporting minority businesses, mean to you?

As a 100% certified minority and female-owned and -operated company, iWoman TV is perfectly positioned to be the global leader in telling stories about the health, wealth, advancement, and struggles of women.

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For more information on iWoman TV, please visit: iwoman.tv or follow their social media: Instagram, X, Facebook, and YouTube.

As we celebrate Earth Day in 2024, the urgency to address environmental challenges has never been more apparent. With climate change continuing to be an ongoing issue and the need for sustainable practices becoming increasingly evident, businesses need to step up and take responsibility for their impact on the planet. At The Council, we believe that sustainability isn’t just a buzzword; it’s a mindset that can drive positive change for our planet and our communities.

Sustainability in business isn’t just about reducing waste or implementing energy-efficient technologies (though these are important components). It’s about rethinking the way we do business and considering the environmental and social impacts of every decision we make. It’s about fostering a culture of responsibility and innovation that can lead to long-term success, both for businesses and the planet. 

Sustainability is particularly crucial for minority businesses and communities, which often bear the brunt of environmental degradation and inequitable resource distribution. Minority-owned businesses, especially those in marginalized communities, are disproportionately affected by the adverse effects of poor sustainability practices, such as pollution, climate change impacts, and limited access to resources. By prioritizing sustainability, businesses can not only mitigate these disparities but also foster economic empowerment and resilience within minority communities. 

As we celebrate Earth Day, let us recommit ourselves to building a more sustainable future. By working together and embracing innovation, businesses have the power to make a positive difference for the planet and future generations. Let’s lead by example and create a world where equality and sustainability go hand in hand.

Happy Earth Day!

Antonio “Tronic” McDonald is the Founder, Chief Creative Officer, Executive Producer, and Live-Action Director of KUAMP Inc. Antonio had a vision of an exceptional company that was skilled at presenting stimulating and thought-provoking images. With his dream in mind, he embarked on a daunting task: raising society’s existing expectation of urban mediocrity in the media to an unsurpassable reign of metropolitan distinction. 

Antonio has worn many hats throughout the years including being the creative, producer, and director in the marketing and production world for over 22 years. Tronic began his career as a director, producer, writer, and editor in the world-renowned MTV On-Air Promotions Department.  

Accolades to his portfolio include numerous award-winning creative campaigns for HP, Google, and MTV.

About KUAMP

We are KUAMP (pronounced Kee-Yamp), an acronym for Keep Up And Make Progress. Meaning, it’s the little steps you take each day that propel you to greater heights. We do the work. And by doing so, we make YOUR brand relevant. No matter the project, we go out of our way to make sure that your message is authentically tied to your culture. Because we believe when it comes to culture, people can sniff out what’s real from what’s not. On paper, we’re an experienced team of award-winning artists, agency creatives, filmmakers, and production leaders, but what you also get is a creative partner without the ego or fluff.

What does being a minority business, or supporting minority businesses, mean to you?

A minority business is a badge of honor. All of the odds are stacked against us, and we are faced with tremendous adversity. Being able to rise above all of that and still deliver award-winning work for our clients is meaningful and brings me great joy. After 22 years of being in business, I’ve learned that perseverance and grit are the keys to success.

How has being certified with the NMSDC helped your business?

One of our biggest and best clients, Google helped us get certified. Since then, we have been certified and by building a strong partnership together our business has grown exponentially. Without our NMSDC certification, this fruitful partnership would not be possible. We have also been able to obtain valuable information through the NMSDC workshops that have led to us obtaining an SBA loan which has also tremendously helped our business.

What is one thing you wish you had known when you were starting out in your career?

I wish I had known that an NMSDC certification could really help our business. By networking and building strong relationships, I would be able to thrive.  

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For more information on KUAMP, please visit: kuamp.com or follow their social media: Facebook, Instagram, and LinkedIn.

Priscilla Jiminian is the Founder and CEO of Skinergy Beauty, a Caribbean-inspired skincare brand that specializes in dark spot and color-correcting treatments. A native New Yorker (The Bronx) from the Dominican Republic, Priscilla received her BA from John Jay College of Criminal Justice and has a decade-long background in real estate, where she learned the ins-and-outs of running a business and managing important portfolios, while also working with important clientele. She was an assistant to a fashion editor-in-chief in 2013 and began her journey in skincare in 2017. In 2019, Priscilla committed full-time to running and growing Skinergy Beauty, through a pandemic and bootstrapping from her savings. 

Priscilla recently completed the women’s entrepreneurship program from Bank of America at Cornell University and has been awarded the 2022 Chase for Business Accelerator Program, Credo for Change program, and digital undivided breakthrough cohort.

About Skinergy Beauty

Skinergy Beauty was born out of a desire to fill a white space in the beauty industry. Priscilla couldn’t find a highly effective product in the US market that did not contain hydroquinone (a controversial ingredient) to lighten hyperpigmentation without irritating her skin. As a Latina, this concern particularly resonated with her; She was frustrated with the struggle of hormonal acne and post-inflammatory hyperpigmentation.

In 2017, she proudly introduced Skinergy Beauty’s bestselling and award-winning Dark Spot Correcting Cream to remedy this issue. Since its inception, Skinergy Beauty has had the pleasure of building a loyal customer community, receiving accolades from esteemed publications, showcasing remarkable before-and-after results, and securing four coveted beauty awards.

As a Caribbean-inspired skincare brand with a dedicated focus on addressing Dark Spots and Hyperpigmentation, their passion-driven mission is to be the trusted solution for hyperpigmentation, a common concern in the Black and Brown communities. But their mission surpasses the realm of beauty; they are boosting self-esteem in those who may have lost their skin confidence after dealing with acne marks and dark spots for years.

What does being a minority business, or supporting minority businesses, mean to you?

Skinergy Beauty is not just a skincare brand; we are a community-driven force committed to addressing the persistent issue of hyperpigmentation in Black and Brown individuals. Beyond our unique products, Skinergy actively supports our community by empowering individuals to understand their skin and the best ways to combat hyperpigmentation. We also prioritize fair representation by featuring diverse models and influencers in our marketing campaigns, promoting self-confidence and self-love among our audience. 

We are a brand that not only cares for optimal skin health; we also foster a sense of belonging and pride within the Black and Brown communities we serve. This means that Skinergy is a vehicle to combat not only skin conditions but also the psychological impact that those skin conditions plague us with.

How has being certified with the NMSDC helped your business?

It’s been a pleasure to connect with other companies. Entrepreneurship as a woman of color is very lonely. Having a community to reach out to and meet at events makes it all worthwhile. 

What is one thing you wish you had known when you were starting out in your career?

One thing I wish I knew prior to taking on the journey of being a founder is to lean on others. Interdependence is better than independence and vital to the growth of your business. 

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For more information on Skinery Beauty please visit: skinergybeauty.com or follow their social media: Facebook, Instagram, X, and LinkedIn.

Ethan Dowie is the CEO and visionary founder of Indigo Promotions. His goal in establishing this company was to innovate in the realm of corporate branded merchandise, specifically for events and impactful marketing campaigns. They don’t just create products; they craft unique, memorable items that elevate events, boost marketing efforts, and enhance overall company images. At Indigo, their commitment lies in delivering exceptional, custom products with unparalleled customer service. Ethan is dedicated to growing Indigo into a leader in the field, building a team that is deeply invested in their mission, and puts 100% into every project, big or small. As they continue to evolve and expand, Ethan invites you to be a part of his story, where creativity meets impact in the world of corporate branding.

About Indigo Promotions

Indigo Promotions stands as a proud minority-owned business, dedicated to designing and creating unique branded merchandise that makes a statement. Specializing in products for events and corporate branding, they have carved a niche in the market with their innovative approach. Indigo Promotions portfolio boasts collaborations with renowned names like Google, Zappos.com, MAC Cosmetics, Mazars USA, and Bloomberg, to name a few. Each project they undertake is more than just a task; it’s an opportunity to elevate the corporate branded merchandise world. They believe in making every item count, whether it’s for a grand event or a subtle brand enhancement. At Indigo, they’re not just creating products; they’re crafting experiences that resonate and leave a lasting impression.

What does being a minority business, or supporting minority businesses, mean to you?

Being a minority-owned business, and supporting others like us, holds profound significance for me and Indigo Promotions. It’s not just about the label; it’s about embodying and promoting diversity, inclusivity, and equal opportunity in the business world. As a minority business owner, I have a unique perspective and a distinct voice that enriches the corporate landscape. It’s about bringing a diverse range of ideas, cultures, and experiences to the table, which in turn fosters innovation and creativity.

Supporting minority businesses means contributing to an ecosystem that values and uplifts underrepresented communities. It’s an opportunity to drive economic growth in diverse communities and help level the playing field in a market that has traditionally favored majority-owned businesses. This support isn’t just beneficial for the minority businesses; it enriches the entire economy by introducing varied perspectives and solutions.

In essence, being and supporting a minority business is about more than just economic success; it’s about creating a more equitable, diverse, and dynamic business environment where everyone has the opportunity to thrive and make a meaningful impact.

How has being certified with the NMSDC helped your business?

Being certified with the National Minority Supplier Development Council (NMSDC) has been a game changer for Indigo Promotions. This certification has not only served as a badge of credibility and trust but has also significantly expanded our network. Being in proximity to other exceptional companies at NMSDC events has been invaluable. It’s provided us with unique opportunities to connect, collaborate, and grow alongside some of the most innovative and successful businesses in the industry.

These connections have directly impacted our business for the better, opening doors to new markets and clients who are committed to supporting diverse suppliers. The exposure and insights gained from being part of this community have been instrumental in shaping our strategies and approaches, allowing us to stay ahead of industry trends and meet our clients’ evolving needs more effectively.

Moreover, the NMSDC has been a vital resource in terms of learning and development. The workshops, seminars, and networking events have given us access to knowledge and practices that are crucial for staying competitive in today’s fast-paced business environment. In essence, the NMSDC certification has not just been a mark of our identity as a minority-owned business, but a catalyst for growth, innovation, and sustained success.

What is one thing you wish you had known when you were starting out in your career?

One thing I wish I had fully grasped when starting out in my career is the immense value of building and nurturing a network from an early stage. The power of connections in the business world cannot be overstated. Every interaction and every relationship can open new doors, present unexpected opportunities, and provide invaluable support and guidance.

Looking back, I realize that the contacts you make early on often stick with you throughout your career journey. It’s crucial not just to grow your network, but also to maintain these relationships with integrity and mutual respect. Doing good by your contacts, providing help when you can, and staying engaged with your network pays off in ways you can’t imagine initially.

The truth is, your network is one of your most significant assets. It’s not just about the number of people you know; it’s about the quality of those connections and how you nurture them. Strong, positive relationships built on trust and mutual benefit are invaluable. They not only aid in personal and professional growth but also enrich your career with a sense of community and belonging. So, if I could offer advice to my younger self, it would be to start building that network early and always strive to be a valuable, reliable contact in others’ networks as well.

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For more information on Indigo Promotions, please visit: indigopromos.com or follow their social media: Facebook, X, Instagram, and LinkedIn.

Having co-founded the original company, New Jersey Sorting Company in 1984, Leticia Murphy now resides as Chairperson, leading The Millennium Group (TMG) into a nationally recognized full-service office and facilities management company. Coming from a production mail background, Leticia maintains a steadfast vision of the founding principles on which TMG was built; client loyalty, commitment to employees, and rewarding success have been the staple of Leticia’s leadership in her 40 years with the organization. 

Through the late 1980s and early 1990s, she was a formidable driver behind the commitment to begin TMG’s national expansion. Having a deep focus on production mail operations, Leticia knew that her experience would lend value to channeling TMG’s success throughout North America. She began to drive processes with an eye on expense management and cost reductions for clients. She has been and continues to be an instrumental leader with major strategic investing, market expansion, and diversification of service offerings.

Today, Leticia leads TMG, encompassing an Associate population of 3,500 professionals globally. She continues to drive the business by challenging her TMG leaders to evolve and create market relevance. Leticia’s participative leadership style remains her biggest asset as TMG continues year-of-year growth.

About The Millennium Group

The Millennium Group is a dually certified Minority Business Enterprise (MBE) and Woman Owned Business Enterprise (WBE) providing client-based, document management, and workplace services globally. This includes management of mail, print, document imaging, hospitality, and office support services for many of the world’s most renowned organizations, including various Fortune 500 companies worldwide.   

Now in their 40th year and with a mission to deliver ‘Where Service Matters,’ TMG supports over 250 contracted facilities management clients in over 650 facilities globally.  They support these clients with 125,000 square feet of digital print, mail processing, materials fulfillment, and records storage in New Jersey. Their National Processing Center is Hi-Trust certified and HIPAA compliant with an on-premise USPS. annex. TMG’s facility provides Xerox and Konica Minolta-powered on-demand digital printing, automated mail manufacturing, and inbound mail digitalization, and outputs over 200 million mail pieces annually. 

Their ‘Where Service Matters’ teams have the in-depth industry knowledge and expertise to deliver accurate, efficient, and excellent levels of customer service to their clients. Their dynamic management team, industry expertise, and supporting infrastructure focused on helping our clients achieve their goals, results in the highest client retention rates and year-over-year satisfaction in the industry! Additionally, TMG’s SafeMail, Mail, and Parcel Screening centers in New York, Washington DC, and San Francisco protect client facilities from chemical, biological, and explosive agents in their delivered mail and packages. They have the best-in-class mail and parcel security solution.

What does being a minority business, or supporting minority businesses, mean to you?

As a certified MBE and WBE, we are committed to championing diversity, equality, and innovation in every aspect of our business operations. We believe that when diverse businesses flourish, it leads to a stronger, more dynamic, and equitable marketplace for everyone.  

Being a minority business is about bringing diverse perspectives and innovative solutions to the table. We represent a broader spectrum of ideas, cultures, and experiences, which are crucial for fostering creativity and driving business growth.   

Supporting other minority businesses is equally significant. We aim to create an inclusive economic ecosystem where diverse businesses have the opportunity to thrive. By engaging with and supporting other MBEs, we foster a culture of inclusivity and contribute to the economic empowerment of underrepresented communities. Our supplier diversity program exemplifies this commitment. By partnering with other minority-owned businesses, we empower these businesses and also enrich our own. These partnerships lead to mutual growth, shared success, and a stronger, more resilient business community.

How has being certified with the NMSDC helped your business?

Being a certified MBE with the National Minority Supplier Development Council (NMSDC) has been a meaningful step in our journey towards growth and inclusivity. 

Our association with the NMSDC has fostered a sense of solidarity and community among fellow minority-owned businesses. The opportunities for mentorship, networking, and collaborative learning have been invaluable, allowing us to share experiences, challenges, and successes with peers who understand the unique aspects of operating as a minority business. These connections often lead to potential business opportunities, and collaborations, which are vital for our continuous development and expansion.

The NMSDC’s emphasis on promoting minority-owned businesses has also given us a platform to showcase our services and expertise to businesses that actively seek to diversify their suppliers. This certification has not only heightened our visibility within a network of businesses committed to diversity but has also enriched our understanding and approach to fulfilling the diverse needs of our clients. 

The NMSDC certification is instrumental in guiding our path forward and in strengthening the core values that define our commitment to diversity and excellence.

What is one thing you wish you had known when you were starting out in your career?

Reflecting on my career journey, I have experienced the value of relationships with mentors, peers, team members, other businesses, and even competitors, which is immeasurable. These connections can open doors, provide new perspectives, offer support during challenges, and create opportunities for collaboration. Understanding and appreciating the human element in business is something we prioritize and encourage within The Millennium Group. It’s a perspective that enriches our work environment and contributes significantly to our collective success.

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For more information on The Millennium Group, please visit: tmgofficeservices.com or follow their social media: Facebook, X, Instagram, and LinkedIn.

Amit is a seasoned outsourcing, technology, and procurement expert that has been supporting the USA, Singapore, and India with Smartshore for more than 15 years. Under the Smartshore umbrella, he has advised various Wall Street clients on technology and procurement outsourcing. Amit has been involved with outsourcing for over 25 years and has been instrumental in the conceptualization and implementation of global outsourcing and offshoring strategies for UBS Investment Bank, JPMorgan Chase, and MBNA (now Bank of America). Amit has completed the “Growing an Established Diverse Business” program from Tuck Executive Education at Dartmouth, received an MBA from the University of Delaware, and has a bachelor’s degree in Electrical Engineering from MIT, Manipal. 

About Smartshore

Smartshore is a 15-year-old IT services and procurement consulting company. They specialize in driving process transformations for financial services clients. By leveraging detailed process maps, RPA, ML, and AI, the company assists clients in adopting advanced technology tools such as reverse auctions and global workforce solutions. 

Operating in the USA, Singapore, and India, Smartshore has established itself as a key player in the industry. With a client base that includes several global banks, the company continues to deliver innovative solutions, showcasing its commitment to enhancing operational efficiency and leveraging cutting-edge technologies for the benefit of its clients.

What does being a minority business, or supporting minority businesses, mean to you?

Being a minority business, or supporting one, signifies recognizing and valuing diversity in the business landscape. It involves fostering an inclusive environment where businesses owned by individuals from underrepresented groups are given equal opportunities. Embracing minority businesses contributes to economic empowerment, creates a level playing field, and encourages a rich tapestry of perspectives. It’s about breaking down barriers, promoting fairness, and acknowledging that diverse voices bring unique strengths to the business world. Supporting minority businesses is not just a commitment to equality but a strategic move that enhances innovation, resilience, and overall success in a global and interconnected marketplace.

How has being certified with the NMSDC helped your business?

Smartshore has gained significantly after obtaining certification from NMSDC. Certification has enhanced credibility, and opened doors to new opportunities and partnerships, especially in the realm of supplier diversity. 

For Smartshore, this has meant increased access to contracts and collaboration with corporations committed to diverse suppliers. NMSDC certification signals a dedication to inclusion, aligning with the values of many businesses. Additionally, it provides resources like educational courses at Dartmouth College and support that can aid Smartshore’s growth and development. In essence, NMSDC certification has been a strategic move amplifying Smartshore’s presence and success in the industry.

What is one thing you wish you had known when you were starting out in your career?

I wish I had started my business in the early days of my career rather than focusing on getting an MBA and spending 8 years working for others. 

For more information on Amit Saraff and Smartshore, please visit: smartshore.us or follow their social media: Facebook, X, and LinkedIn.

Did You Know?

The National Defense Authorization Act (NDAA) includes three key provisions that could have a significant business impact on the member companies.

1. Increased Goal for Service-Disabled Veteran Firms
   • The Act phases out the self-certification of Small Business Concerns Owned and Controlled by Service-Disabled Veterans (SDVoB) and increased the government-wide goal for federal contracting with from 3% to 5%. In 2023, the federal government awarded a record $765 billion in contracts in fiscal year 2023, a 9.5% increase over 2022. If we use the total 2023 spend, it could reflect an additional $15.3B in Federal spend available to SDV owned businesses. Implementation regulations for this provision are due by Wednesday, June 19, 2024.
2. Prompt Payment 
   • The Act amends the Small Business Act to reduce the payment duration to subcontractors from 90 days to 30 days, ensuring faster payment processes for small business subcontractors. The provision also empowers contracting officers, in coordination with the agency Director of Small Business Programs or OSDBU to develop correcting and mitigation for prime contractors that failure by the prime contractor to make a full or timely payment to a subcontractor. Prime contractor cooperation continues until the subcontractor is made whole or the determination of the contracting officer is no longer effective – regardless of performance or close-out status of the covered contract. Implementation regulations for this provision are due by Wednesday, June 19, 2024.
3. Past Performance of Affiliates of Small businesses
   • Effective no later than July 1, 2024 – when small business concerns bid on Defense contracts, the past performance evaluation and source selection processes will consider the past performance information of affiliate companies of the small business concerns, if relevant. This provision aims to support small businesses with affiliate companies in securing contracts by leveraging their collective past performance.