Small Business Finance News

New York Council Members Want Small Businesses To Get Contracts

Written by Jenna Weiner
Published: 8/3/2011

The New York Daily News reports that legislators are petitioning Mayor Bloomberg for policies that will make it easier for SMBs to bid on smaller contracts in NYC.

In what could be good news for small businesses looking for work in New York, a pair of Staten Island City Council members and a public advocate may introduce legislation to make bidding for government contracts more favorable for small businesses, according to the New York Daily News.

New York City Small Business Contracts

While only contracts exceeding $100,000 are publicly listed, smaller contracts often go unlisted, the news source said. Public advocate Bill De Blasio and Councilmembers James Oddo and Vincent Ignizio sent a letter to Mayor Michael Bloomberg's office asking for contracts over $25,000 to be posted in the city record.

The Daily News reports that as it stands, the cheaper contracts are usually only bid upon by a small group of agencies hand-picked by city agencies. De Blasio said it's time to give small businesses a shot at competing. The news source spoke with a Bloomberg representative, who said the proposal would be reviewed.

Staten Island Live reports that of the 56,000 smaller contracts that went out to bid last year, only about 5 percent, or 2,589, were posted on the city record online.

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