We’re all working together; that’s the secret.
Joint Venture Definition
The Small Business Administration defines a joint venture as an association of individuals or businesses that engage in and carry out a specific or limited-purpose business venture for joint profit for a defined period of time. These individuals or businesses combine their efforts, property, money, skills, and knowledge, usually in support of a single government contract. The joint venture is set up for the sole purpose of pooling resources to successfully and cost effectively support the mission of a government agency.
Benefits of Joint Venturing
It is possible that a joint venture can be made up of two, three, or more businesses and still qualify as a small business, depending on the type of Schedule it falls under.
For those willing to create a joint venture, there are many benefits.
- Represent Past Performance collectively, as a prime contractor (rather than as a subcontractor)
- Share costs
- Share resources
- Leverage other partners’ experience and market share
Satisfy Your Joint Venture Requirements
Contact us to fulfill your joint venture requirements through our classifications:
- Woman Owned Small Business (WOSB)
- Small Disadvantaged Business (SBD)
- ICE Mutual Agreement between Government & Employers (IMAGE)
- Online Representations & Certifications Application (ORCA)
1212 New York Ave, NW
Washington, DC 20005