Challenges Associated. How The South Africa Does Compare To That Of The United States?

Socioeconomic ProgramsNames:Institutional affiliation:IntroductionThe procurement system in the United States contains policies and laws that compel the federal government procurement budget to be spent in a manner that strives to improve the socio-economic aspects of the people (DiNitto & Johnson, 2015). In the procurement process, the government needs to give preferential treatment to disadvantaged groups, minority groups, and small businesses with the aim of improving their welfare and development (DiNitto & Johnson, 2015). This essay will analyze the socio-economic programs in the Federal Government procurement in the United States, challenges associated with the socio-economic programs, and its comparison with socio-economic programs of South Africa.Overview of the Socio-economic ProgramsThe socio-economic programs originated from the Small Business Act. Under the section 8(d) of the Small Business Act, the small businesses in the United States should have utmost opportunity to participate in the procurement system of the Federal Government that may include contracts and subcontracts (Kaye Nijaki & Worrel, 2012). The aim of the small business program is to encourage fair competition which is the main driver of economic prosperity of the