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Government Contracts: Know Them to Win Them

September 14, 2011

If you are aiming to seriously grow your business, you should set your eyes on obtaining government contracts. You must try your luck in joining government contract bids because this will bring positive change to your company. Being the biggest contractor in the U.S., the federal government gives priorities to small business owners like you to have a share of its billion dollars spending on products and services.

Government contracts for bid involve the simplest consumer products, such as toothpaste, and the most complex ones, like the stealth bombers. Regardless of which items you want to sell, you have to take note that your bid will go through a very strict procedure. This is to ensure the reduction or prevention of mishandling of public funds. Among the agencies that acquire goods and services, it is the Department of Defense that gives out hefty contracts.

Just like in any corporate procurement process, each federal agency hires a procurement officer to handle purchase of supplies. This person has to make sure that every government contract must be awarded only after a comprehensive review of the bid, as well as after a careful assessment of the company’s capacity to deliver what it promises.

To become successful in participating in government contract bids, it is necessary that you study the policies, as well as the processes, that come with it. Visit the website of the Small Business Administration because you may find the information that you are looking for. Another thing, try to keep your profit to 15 percent so you may stay competitive during your government contracts bid. Make sure also that you are already registered with the Central Contractor Registry or else, you will not be able to participate in the government’s “Invitation to Bid”.

It is likewise essential that you build a positive image for your company. To begin with, you must have your own website. You must also create a profile that will highlight what your company has accomplished so far. Include a list of your present projects to reflect the stability of your business. You may also include your resume if you have skills, education and experiences that will build the credibility of your company.

To win government contracts, you need to make sure that you are selling products or offering services that are highly important to the government’s daily and important functions. Or else, your proposal will not raise the interest of any government agency.

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