Grow Your Business
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Grow Your Business

New Markets

Expanding into new markets is a strategic pathway for business growth that involves introducing your existing products or services to customer segments, geographic regions, or industry sectors you have not previously served. Entering new markets can be a powerful strategy for business growth but requires careful planning and execution. By understanding the why and when of market expansion, conducting thorough market research, assessing risks, and developing a strategic plan, you can navigate the complexities of market entry successfully and reap the considerable rewards of expanding.

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Government Contracting Opportunities

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Federal Government
  • Contract opportunities are listed on SAM.gov (System for Award Management).
  • Federal Acquisition Regulation (FAR): Federal contracting is governed by the FAR, which outlines the rules and regulations for federal procurement.
  • Contracting Assistance Programs: The Small Business Administration (SBA) offers various programs to assist small businesses in navigating the federal contracting landscape.

    • Commonwealth of Virginia Government
  • Contract opportunities are listed in the Commonwealth of Virginia’s procurement portal - eVA.
  • Contracting is governed by Virginia Department of General Services (DGS).
  • Virginia Department of Small Business and Supplier Diversity (SBSD) offers various programs to assist small businesses in navigating the Commonwealth’s contracting landscape.

    • Local Governments
  • Each local government entity (county, incorporated city or township) has its own rules, regulations, and processes regarding government contracting.

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    International Markets

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    International market is a system of selling goods and services outside of the USA. Learn how international markets work and examine some of the cultural, political, economic, and legal challenges they face.

    For resources to enter international markets:

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    E-Commerce Markets

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    E-commerce, short for electronic commerce, is the buying and selling of goods and services online, primarily via the internet. It involves the exchange of products or services between businesses, consumers, or both, facilitated through platforms like websites, mobile apps, or online marketplaces.

    hint icon   Helpful Hint: For additional assistance, contact your local SBDC Virginia Small Business Development Center

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