Small business owners will get a chance to learn about the surety bonding process and applying for a bond from 3 to 5 p.m. on Aug. 7 at HISD’s Workshop Wednesday.
“Any workshop that provides insight on what goes into securing a bond will help small businesses increase their contract bidding capacity,” said HISD Supplier Diversity Team Leader Bernard Willingham. “Now they can apply for these bonds in an educated way and increase their chances to winning contracts with larger agencies like HISD.”
As the district prepares to begin construction for its $1.89 billion bond program that will replace or rebuild 40 schools across the city, Willingham said it’s important for small businesses to expand their network and learn more about the bidding process. That knowledge will make it easier to pursue contracting opportunities, according to Willingham.
“Because of a workshop like this, some things will get highlighted that many business owners are unaware of,” Willingham said.
Amaya said many business owners find the bonding process confusing. Essentially, a payment bond guarantee that workers, subcontractors and suppliers are paid, while a performance bond guarantees the work is done according to the project’s contract.
“Our goal is for small business owners to know all of the bonding options available,” Amaya said. “It’s important for them to know how to manage their company in such a way that will get them to the next level.”
Amaya specializes in commercial insurance and has helped minority and small businesses get bonded for more than seven years. With a University of Houston economics degree, Amaya hopes her expertise will help small businesses strengthen their accounting system so they can better manage their companies and, hopefully, do business with HISD.
“HISD in the business of helping small business owners and contractors,” Amaya said.
HISD’s Office of Business Assistance holds regular monthly workshops on a variety of topics of interest to business owners. To RSVP or for more information, contact the Office of Business Assistance at 713-556-7273.