Gov to English translation:
1) A set-aside contract is a contract that big companies can’t bid on.
2) A company with a set-aside is allowed to bid on set-aside contracts
What are set-asides: The government wants to help small businesses grow and succeed, so 23% of all federal spending is restricted for small businesses.
Within the small business set aside sphere there are specific targets for
Service disabled veteran owned small businesses
And small businesses located in low income areas
Why you care: Set aside contracts provide something of a safe harbor for new businesses to enter the market. While there are hundreds of thousands of small businesses out there, so the competition is still stiff, if you are bidding on a set-aside contract, at least you aren’t bidding head to head against Lockheed Martin.