By Linh Phu, Access National Bank Owners of privately-held businesses generally finance their businesses with their own capital, augmented with bank loans. An additional source of funding for government contractors is available from Small Business Investment Companies (SBICs). The Small Business Investment Company Program was established by Congress in 1958 to supplement the long term capital, both debt and equity, available to small businesses. The SBICs are privately owned and managed investment funds, but regulated and licensed by the U.S. . . . Read More
Business owners have at their disposal a variety of employee incentive compensation tools to attract and retain talent. In terms of employee incentive plan design, business owners work to strike a balance between “carrots”–rewards to employees–and “sticks”–measures to protect the company’s downside if the employee fails to deliver value. What should a properly-designed employee incentive plan do? Generally speaking, a well-crafted employee incentive plan will incentivize key employees to drive value and build the company; and in exchange be rewarded . . . Read More
There are a growing number of cybersecurity requirements applicable to government contractors that work with the Department of Defense (DoD) and intelligence community. Thanks in part to a number of recent, high-profile cyber attacks, the laws and regulations governing cybersecurity will surely expand further. Indeed, President Obama mentioned cybersecurity in his 2015 State of the Union address, around the same time several new or rehashed legislative proposals were issued. These laws and regulations are designed to impose requirements on contractors . . . Read More
By Kimi Murakami In a decision issued last year, the GAO denied the protest of Maersk Line, Limited, of Norfolk, Virginia (“Maersk”), a large business, which challenged the decision of the Department of the Navy, Military Sealift Command (“MSC”) to conduct the procurement for cargo transportation services in accordance with the small business set-aside requirements of the Federal Acquisition Regulation (“FAR”) Part 19. Maersk Line, Limited, B-410280 (December 1, 2014). Maersk argued that the agency erroneously applied the set-aside rules . . . Read More
On February 5, 2015, the U.S. Small Business Administration issued a proposed rule to amend its regulations to implement provisions of the Small Business Jobs Act of 2010 and the National Defense Authorization Act for Fiscal Year 2013, 80 Fed. Reg. 6618 . Based on authorities provided in these two statutes, the proposed rule would establish a Government-wide mentor-protégé program for all small business concerns, amend current joint venture provisions and make additional changes to current size, 8(a) Office of Hearings and Appeals or . . . Read More
On February 5, 2015, the U.S. Small Business Administration (SBA) has issued a proposed rule to amend its regulations to implement provisions of the Small Business Jobs Act of 2010 and the National Defense Authorization Act for Fiscal Year 2013, 80 Fed. Reg. 6618 . Based on authorities provided in these two statutes, the proposed rule would establish a Government-wide mentor-protégé program for all small business concerns, amend current joint venture provisions and make additional changes to current size, 8(a) Office of Hearings . . . Read More
By Alex Levine The U.S. Department of Defense (“DoD”) recently announced its intent to request a 10-year extension of its mentor-protégé program. The move is a bid to add more permanence to a program, since its advent in 1991 has been labelled a pilot program that must be reauthorized in a National Defense Authorization Act every few years. The DoD hopes that the move will encourage participation amongst businesses, participation which the DoD asserts has been “chilled” due to the . . . Read More
