Small Business Opportunities 2017: Government Contracts for Bid
Many of us think that government contracts are only suited for large corporations, but this is not the case. 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. It helps accessing the small business administration guide to help you with the policies and procedures you must know and adhere when bidding on government contracts. It is best to seek 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 process.
You can set up a SAM profile or System for Award Management profile which acts as a master list of all kinds of businesses that wish to work for the federal government. It is important to indicate on you SAM profile all of 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. Be ready with your taxpayer identification number and a DUNS number for your business, that refers to your business physical address, and you can apply online for free number. SAM registration is absolutely free, and your profile is posted within 72 hours after you are finished completing your profile.
Invitations For Bid or IFB can be checked on the website of Federal Business Opportunities government website. 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. Before bidding, be confident that your company can execute and complete the job excellently. 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. Set a low bid yet realistic, and it helps researching past bids that are considered public record. The likelihood that you will win a government contract will increase by utilizing helpful data analysis tools and techniques.