Defense cuts create small business opportunities

In an ironic twist, a top U.S. Navy official says that major defense cuts could mean new opportunities for small business and that they should continue to innovate.

The government will need to rely on small business in new ways because things will need to be accomplished more inexpensively, Defense Under Secretary Bob Work told Navy Opportunity Forum attendees on June 6, reports DefenseNews.

One of the most significant challenges ahead is a military engaged in the war on terror as cuts are made, which is why feds want “to capitalize on [small business'] ability for quick adaptation,” said Work, according to the article.