Government contracting is a mechanism whereby Federal agencies acquire services/supplies from businesses of all sizes and industries. The U.S. Government is the world’s largest consumer; thus, it purchases all types of goods and services in diverse quantities, from spacecrafts to needles. By law, Federal agencies are required to set-aside 23% of all contracts for small businesses.
Each year, more than $400B dollars are spent in government procurements, awarded to businesses who sell services, goods or interests to more than 430 federal agencies, sub-agencies and departments of the Federal Government.
The Government is a serious institution with a set of strict regulations, legislation, terms, and conditions that must be met in order to become a contractor. Otherwise, being a non-compliant candidate could result in suspension or exclusion from the competition.
Despite the difficulties and the complexity of becoming a business partner with the Federal government, with hard work and diligence, the final result can lead to immense sales, revenue, and additional contracting opportunities, especially for small businesses. It can open many doors and help you capture even more profitable contracts in the future.
Who can compete for Federal Business Opportunities?
Federal contract opportunities are open to all types of businesses, no matter the size. Depending on the type of contract, some contracts can be particularly designed only for small business set-asides or for large/medium companies. However, the Government is specifically concerned with enhancing the involvement of small businesses by buying their products and services for various reasons including:
- to enable them to compete with large well-established companies
- to support them in contributing to economic development and creation of jobs
- to provide more business and growth opportunities to disadvantaged businesses, minorities, and businesses located in underrepresented zones
How can small businesses become contractors?
The journey of Federal contracting can be long and you might even feel discouraged by the procedures that you need to complete before being able to compete for prime contracts. Nevertheless, compared to the benefits you’ll have after you accomplish your goals, everything is worth it. Follow these steps:
- Qualify as an SM and a respective category
- Determine your NAICS code
- Meet SBA size standards
- Get your DUNS number
- Register for Government Contracting
Once you make sure that you completed all the above steps, and registered your business in the System of Award Management you can prepare to bid for contract opportunities that you’ll find suitable for your business. The final step that is indispensable and can absolutely add value to your company is preparing a compelling government proposal.
Assign a professional firm that provides federal proposal writing services
As a small business, you may think that assigning a firm that provides professional technical proposal writing services can be an unnecessary investment. Understandably, you need to be cautious with expenses, but considering the extensive and fierce competition, it’s advisable to not take for granted such a complex process.
By hiring a successful company with proven experience and expertise, you’ll be able to respond effectively to federal RFPs and submit winning proposals. They will bring value to your project by combining a wide range of processes that require exceptional knowledge and experience in the field of Federal Market.