Hybrid Contracts for Small Business - 927 Words

Hybrid Contracts for Small Business Introduction There are many different forms of contracts in which the CEO of a small local business could use to try to acquire business from the local Navy base. Most traditional contracts are composed of either fixed price contracts or cost reimbursement type contractual arrangements. However, a new type of contract has emerged that offers small businesses alternatives to the traditional bidding structures. The new alternatives to traditional contracts offer small business a great deal more flexibility in their design. This acts as an incentive for small businesses to bid on various contracts that they might have been uncomfortable with in previous models. The hybrid contract provides a pathway to new opportunities for small business. This paper will briefly outline some of the types of contracts available and discus how they might apply to a small business. Types of Contracts The fixed price contract can be used as an effective, efficient, and accountable contract too. Fixed pricing is typically used when the product or service is being transferred that is relatively easy to determine a fair market value. For example, a fixed price contract might be used to purchase office equipment because the price is not generally subject to a large and subjective interpretation. It also is efficient because it cuts out some of the administrative burden that is placed on the relevant parties (U.S. Government, N.d.). In more complex fixed priceShow MoreRelatedBenefits Of A Cloud Based Service Essay1510 Words   |  7 PagesSMBs In the recent decade, the price of storage and bandwidth has continously decreased, and so cloud based services are most sought after and more attractive to small and medium-sized business(SMBs), which are seeking to reduce licensing costs, avoid recruiting IT staff and focus fully on their core responsibilty- growing the business. 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