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Industrial News

Small is beautiful

2011-01-07 00:00:00

 Los Angeles has devised a program to nurture entrepreneurs by making sure that the smallest of enterprises will gain access to the port’s professional service and construction contracts.

 
 
This component is added to the Port of Los Angeles’ existing Small Business Enterprise Program (SBE), which ensures at least a quarter of these contracts are awarded to qualified small businesses.
 
 
Now 5% of these will go to Very Small Business Enterprises (VSBEs), which are defined as a business that averages less than $3.5 million in gross revenues, or a manufacturing company with fewer than 25 employees.
 
 
“This is yet another way to ensure that very small businesses have the opportunity to do professional service and contract work here at the Port of Los Angeles,” said executive director Geraldine Knatz, “Entrepreneurs are the backbone of our regional economy and we want to make sure to support them.”
(Source:www.portstrategy.com)