How Small Businesses Can Win Big Government Contracts

GOVERNMENT CONTRACTS- Every year the U.S. government shells out upwards of billions of dollars to both large and small businesses alike for contracted work. Landing a government contract can be a lucrative and important win for a company, but many businesses shy away because they don’t know how to approach the government request for proposal (RFP) process – or even where to find the opportunity.

While a significant portion of government contracts are won by large companies, a conscious effort has been made to meet small business federal contracting goals. In 2017, the government awarded 24 percent of federal contract dollars to small businesses totaling $99.96 billion, an increase of over $9 billion from the previous year.

To put it simply, there really isn’t a greater opportunity for small businesses than the federal market due to the stability of workflow. Regardless of what your company does, there is a government agency out there that could use your expertise. Timing is also right as we’re on the heels of a $1.3 trillion spending bill that saw government agencies like the U.S. Department of Energy awarded upwards of $34.5 billion.

Here are some tips to consider if you’re preparing to get into the government contracting business: The U.S. government is the largest buyer and seller of goods and services in the world. Take advantage of this stable partnership now and your small business can reap the benefits of working as a government contractor. Be sure to accurately and convincingly describe your company and the value you could bring to a federal job as well as work to build key relationships in the industry that will help your business grow. Don’t let common misconceptions weigh you down – you can effectively tackle government contracts and succeed if you are organized and prepared throughout the process.

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