Small Business Opportunities: How to Bid on Government Contracts
Didn’t you know that government contracts are not just for large corporations? 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 may want to access small business administration guide to assist you adhere with the policies and procedures you must know 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. Specify your business capabilities, special equipment and skills which you can take into account to the job you’re bidding on. Your experience as a business is essential to win a bid especially if you are able to relate it to the contract. 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. Don’t worry SAM registration is totally free, and right after you are done completing your profile, it is posted within 72 hours.
Invitations For Bid or IFB can be checked on the website of Federal Business Opportunities government website. The details of the contract are indicated on Invitations For Bids government website. It is important to evaluate your company to gauge how it can match up with the job offer as shown in the 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. It is a must to follow rules and regulations when it comes to writing a bid, and you can do this by utilizing your local procurement office, small business administration, consulting firms and other helpful resources. It really helps a lot researching past bids which are public record, and make sure that your bid is low yet realistic. Utilizing data analysis tools and techniques to hit those government contracts will increase your chance of winning.