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Tips on winning a government contract as a small business

Every year, the federal government looks to spend signicant amounts of money with small business contractors. Of the $500 billion in purchases, about $125 million or 23%
are allocated to small business firms. These purchases including items from tubas to office supplies to janitorial services. Although hard to earn, government contracts can
be very lucrative and increase revenues by a solid amount. If you’re looking to become a government contractor, here are a few ways to begin the process;

  • Register your business: The first step for any organization considering government contracts is to register their business at the Federal run website SAM.gov. The process and free and gives you a glimpse into some of the items the government is looking to procurement. In addition to a regular small business, you may also qualify for government programs such as veteran, minority, women, and disabled owned companies. Businesses located in historically disadvantaged locations can also qualify for federal contracting opportunities as well.
  • Subcontract: If you believe your business isn’t large enough to meet lofty government requirements, you may wish to connect with organizations that are currently working with the federal government for subcontracting opportunities. According to USA Today. “When awarding a large contract, the government often requires a primary contractor to subcontract out a portion of the work to one or more small businesses. By teaming up with primary contractors, small businesses can gain experience in government contracting and help their bottom line.”
  • Proposals: Writing a proposal for interested contracts can be tricky. The government’s procurement process while fair, can be extremely daunting for newcomers. It’s suggested that the best way to complete a proposal is to connect with reputable organizations that offer government proposal walkthroughs. The best way to win a contract is to learn from organizations that have won one or two in the past.

https://www.usatoday.com/story/money/personalfinance/2017/09/27/how-score-government-contract-work-your-small-business/705912001/

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