Small Business Opportunities 2017: Government Contracts for Bid

Many people are not aware that government contracts are not just for large companies but also for small businesses. You might be surprised, but small businesses can also engage and win government contracts on a regular basis. Unlike bidding with local government entities, you can be successful with federal government contracts that are often subject to a specific process, with the right preparation. 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.

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. 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. 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. SAM registration is absolutely free, and your profile is posted within 72 hours after you are finished completing your profile.

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. You have to do thorough evaluation of your company’s capabilities to gauge how it can match up with the job offer as shown in the IFB. Accept the challenge and be confident that you can complete the job and do it excellently before bidding. 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. It really helpful researching past bids which are public record, and ensure that your bid is low yet realistic. The likelihood that you will win a government contract will increase by utilizing helpful data analysis tools and techniques.

Featured post: The Essential Laws of Jobs Explained