Unlock Growth in 2024 with Government Small Business Contracts
Are you ready to unlock new opportunities in 2024? Government small business contracts can be your answer. In today’s dynamic marketplace, winning government small business contracts can be a game changer. Government small business contracts provide opportunities to sell to the world’s largest purchaser of goods and services—the federal government.
Last year, the federal government spent over $600 billion in procurement contracts and approximately 25% of that is mandated to go through government small business contracts. In addition, annual state and local level government small business contract spending equals that of the federal government.
Government small business contracts can provide a stable source of income, even in a down economy. Winning government small business contracts open doors to new markets, allowing small businesses to diversify their revenue stream. Government small business contracts also lend credibility and visibility to smaller businesses and an opportunity to create relationships with larger, prime contractors.
Read More: Government Small Business Contracts: The SBA is Your Sidekick
Mastering Government Small Business Contracts: A Guide to Seamless Procurement
Navigating the procurement process of government small business contracts can seem like a daunting task. It’s crucial to understand the process and find the right professionals to help you accomplish your goals.
Federal government agencies are required to follow strict guidelines including the Federal Acquisition Regulations, often referred to as the FAR, to ensure fair competition and transparency. Any misrepresentations will prohibit you from working with the federal government.
Small businesses need to familiarize themselves with these processes and requirements and ensure their initial registrations in SAM.gov and the Small Business Administration’s (SBA) Dynamic Small Business Search or DSBS are complete and compliant.
Additionally, businesses can stand out by obtaining relevant disadvantaged socio-economic certifications they qualify for. These certifications are on the federal level through the SBA, include the 8(a) Business Development Program, Women-Owned Small Business (WOSB), Veteran-Owned Small Business (VOSB), and HUBZone programs.
State and local level certification programs include Minority Business Enterprise (MBE), Women Business Enterprise (WBE), Minority / Women Business Enterprise (MWBE), Disadvantaged Small Business (DBE), Veteran Business Enterprise (VBE / SDVBE), and Small Business Enterprise (SBE). These certifications are primarily offered in your home state and also benefit your commercial business as many companies have vendor diversity programs you can participate in.
One of the quickest ways to get a government small business contract is through a GSA Schedule. The General Services Administration (GSA) is the bulk purchasing division of the federal government formed to streamline the federal procurement process. Think of the GSA as the “Amazon” for government buyers.
Any quantity you allow, at pricing and terms you set, Sold without going through the general solicitation process; sold though GSA Advantage and GSA eBuy websites. As a GSA Approved vendor, You become a fully vetted vendor that can be easily found by government buyers through the GSA e-Library.
As an example, the GSA spent $41.1 Billion in purchases through GSA Approved Vendors which only had 13,281 registered businesses in FY2022 or approximately $3.1 million on average spent per vendor.
Strategic Steps: Building Relationships and Marketing to Secure Lucrative Government Contracts
Building relationships with and marketing to government agencies is your next important step. Government small business contracts are awarded to those businesses who do their research and market themselves. You need to know who buys what you sell. Your SAM and DSBS registrations, capability statement, and website are your initial steps to letting government buyers know your capabilities, core competencies, and past performance.
In this digital age it’s important to integrate technology to help you get government small business contracts. Take advantage to leverage your government contracts website to highlight your business and make yourself more visible in government buyers’ searches. A third-party online platform and database can also help you identify relevant government business contracts and targeted government buyers.
In conclusion: government small business contracts are a viable avenue for growth and sustainability in good and bad times. Small businesses that understand the procurement process, obtain relevant certifications, market their business, and build relationships with government agencies stand the best chance for success in government contracting.
