Term
Set-aside
A competition limited to a class of business, such as small businesses or HUBZone firms.
A restriction on who may bid. Agencies must hit yearly goals for spending through small and certified businesses, and set-asides are how they get there. The work is the same; the field of allowed competitors is smaller, which is the entire value of holding the matching status.
In a sentence
"This procurement is a total small business set-aside under NAICS 238160." Only businesses small under that code's size standard may bid.
Also called
- small business set-aside
- total set-aside
- partial set-aside
Terms like this show up in every federal notice. We translate them in place, on every notice in your trade.