Small Business Opportunities: Government Contracts for Bid 2017
Didn’t you know that government contracts are not just for large corporations? You might be surprised, but small businesses can also engage and win government contracts on a regular basis. Unlike bidding with local government entities, federal government contracts are subject to a specific process, but you can be successful with the right preparation. You can access small business administration guide to help you in adhering with the policies and procedures when bidding on government contracts. It is highly advisable to consult your federal procurement office or organizations that include your local or regional Chamber of Commerce or nearby university or college offering seminars, online classes, tutorials and other means to guide you through the bidding process.
You can set up a 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. Specify your business capabilities, special equipment and skills which 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. It is a must to obtain a DUNS number for your business, referring to your business physical address, you can apply for a number free online and be handy with your taxpayer identification number. Don’t worry SAM registration is totally free, and right after you are done completing your profile, it is posted within 72 hours.
You can check for IFB or Invitations For Bid through government agencies which are posted online. Invitations For Bids shows the details of the contract. It is also good evaluating your company and how it can match up with the job offer indicated in an IFB. Be proud and confident that your business can finish the job and strive to do your best before bidding. Remember that if you’re awarded a contract and it fails, it will be most likely your last government contract. 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. It really helpful researching past bids which are public record, and ensure that your bid is low yet realistic. Utilizing data analysis tools and techniques to hit those government contracts will increase your chance of winning.