Type | Journal Article - Academy of Entrepreneurship Journal |
Title | Doing business with the US federal government: A survey of small businesses on Guam |
Author(s) | |
Volume | 16 |
Issue | 1 |
Publication (Day/Month/Year) | 2010 |
Page numbers | 9-9 |
Publisher | Jordan Whitney Enterprises, Inc |
URL | https://search.proquest.com/openview/e5d94c4e32513419800bdc1941e29117/1?pq-origsite=gscholar&cbl=29726 |
Abstract | The purpose of this research study was to identify factors that may explain why a significant number of small businesses on the undiversified, island economy of Guam do not pursue contracts with the U.S. Federal Government. The business opportunity provided by Federal contracts creates an equivalent of an industry or economic sector that is between 6% to 9% of the local economy. In addition, this business opportunity offers support to the island economy in its pursuit of renewed economic growth and sustainable and participatory (broad-based) economic development. Through the survey responses collected from participating small businesses, this paper examines factors that may explain the gap that exists between the interests of small businesses on Guam to do business with the U.S. Federal Government (equivalently, to engage in Federal Contracting) and their ability and experience to pursue U.S. Federal Government contracts. This paper is the first publicly available study of Federal Contracting by small businesses on Guam. As such, it not only contributes to the academic literature but also fills in some previously unanswered questions regarding the availability and analysis of reliable, current and relevant economic data on Guam. It is hoped that this paper will provide policymakers, businesses and communities, both local and international, with an effective tool to plan for future decisions and courses of actions that will aid in Guam?s economic development. In particular, this study presents some thoughtful content for those entities providing support to small businesses and how they may enhance their processes to increase the capacity and capability of their clients to successfully pursue business opportunities with the U.S. Federal Government. |