The state of Delaware spent $314.3 million in the last fiscal year on contracts with small and diverse businesses, including those owned by women, minorities and veterans.

The large spending figure — a 9.4 percent increase from FY 2017 — presents a huge opportunity for small businesses. That was a key takeaway from a panel discussion on small business at Tuesday’s Latino Summit 2018.

Here are some other takeaways from the panel, which include Division of Small Business Director Damian DeStefano:

• DelDOT has a Disadvantaged Business Enterprise Program which provides opportunities for firms to do business with the department.
• The Downtown Development District program offers rebates of up to 20 percent for qualified investments in any of Delaware’s eight downtown districts: Dover, Georgetown, Harrington, Laurel,  Milford,  Seaford, Smyrna and Wilmington.
• Finanta, a nonprofit Philadelphia-based community lender, entered the Delaware market about a year ago and offers SBA-backed microloans up to $50,000.
• To learn more about opportunities for doing business with the state of Delaware visit the website for the Office of Supplier Diversity or come to their Vendor Day on Thursday from 9 a.m. to 1 p.m. at the Stockley Center in Georgetown.

The Delaware Division of Small Business offers a host of services to help you start or grow a small business in Delaware.

Contact us to see how we can help you.