Small Business Opportunities: Government Contracts for Bid 2017
Many people are not aware that government contracts are not just for large companies but also for small businesses. It might surprise you, but even small businesses can also engage and win government contracts on a regular basis. With the proper preparation, even if federal government contracts are often subject to a specific process unlike local government entities, you can still be successful. You can access small business administration guide to help you in adhering with the policies and procedures when bidding on government contracts. Check out organizations that include your local or regional Chamber of Commerce or nearby university or college offering seminars, tutorials, online classes and other means to guide you through the process.
Set up your business System for Award Management (SAM) profile for your business, that acts as a master list of all kinds of businesses that wish to work for the federal government, and take it like your sales pitch. In your SAM profile, it is important to include your capabilities, skills and special equipment that you can take into account to the job you’re bidding on. Experience is an important factor especially if you are able to relate it to the contract on which you are bidding on. The government considers business stability and wants to know if you have been financially sound over that past years, which is a reflection of where your business is heading to. You also need to get a DUNS number for your business, which refers to your business physical address, and you can apply for a number which is free online. The good new is SAM registration is absolutely free, and your business profile is posted within 72 hours right after completing your profile.
You can check for IFB or Invitations For Bid through government agencies which are posted online. IFB indicates the details of the contract. It is important to evaluate your company to gauge how it can match up with the job offer as shown in the IFB. Before bidding, be confident that your company can execute and complete the job excellently. Always keep in mind to complete your first government contract, because if you are unable to complete or finish a government contract well and good, it will likely be your last government project. Follow the policies and guidelines of writing a bid, and it helps utilizing your local procurement office, small business administration, consulting firms and other helpful resources. Set a low bid yet realistic, and it helps researching past bids that are considered public record. Utilizing data analysis tools and techniques to hit those government contracts will increase your chance of winning.