If you never considered bidding for government contracts, you need to revise your thinking about government contracting. Government contracting is another source of business opportunities for your company. As you grow and expand your business, you need to take advantage of every opportunity in the marketplace to gain new customers. This includes working with a contracts lawyer when the need arises.
The government is the world’s largest purchaser of goods and services. Therefore, you do not want to miss out on the opportunity to share in the billions of dollars awarded each year in government contracts. In addition, if you are a small business, you may have an advantage because some government contracts favor small businesses.
Five Tips for Growing Your Business With Government Contracting
1. Consider Being a Subcontractor
If you are a really small business, like a one or two-person company, you may want to consider subcontracting. Many government contracts require primary contractors to use small businesses for a portion of the work. By working with larger primary contractors, you can more about your industry and government contracting.
2. Make Sure to Fulfill All Requirements of the Contract
Dealing with a government agency can be more complicated than dealing with a regular customer. Government agencies have many more rules that you must follow. It is not as simple as providing goods and services. You must often submit invoices in a specific way and by a specific deadline to obtain payment. Make sure that you understand the requirements within the contract and fulfill each requirement. Failing to fulfill contracts hurts your chances of obtaining government contracts in the future.
3. Consider Contractor Teaming Agreements
Working with another contractor is a great way to qualify for large government contracts. You can work with a contractor that has a different skill set so that you can qualify for contracts that have numerous phases and requirements. You can also create relationships with contractors that could help you grow your business in the future.
4. Take Advantage of Special Programs
Some government contracts are only open to certain businesses. For example, service-disabled veteran-owned businesses, minority-owned businesses, small business owners, and women-owned businesses may qualify for jobs that are not open to the general public. You may need to take extra steps to register your business or obtain your business certification, but the chance to bid on contracts that are not open to the general public is worth the time and effort to qualify for these opportunities.
5. Attend Government Events for Contractors
You need to make attending government events hosted by various agencies a priority when you are growing your business with government contracting. In most cases, the events are hosted by the private sector, but attract many industry experts and government procurement agents. You can check several websites for upcoming events. Try GovWin, GovEvents, or GovMark for more information about events that might interest you. Networking is an important element of growing your business with governing contracts, just as networking is important to growing a business through regular commerce.
Ask for Help with Government Contracts
You can access help and resources by working with Procurement Center Representatives with the Small Business Administration. In addition to information, you can also receive training and counseling to help you grow your business with government contracting.
For more assistance with government contracting, schedule a consult with a member of our team at Willcox, Buyck & Williams, P.A. today.