Looking for new markets for your small businesses’ goods or services? Consider selling to the federal government. The U.S. government is the world’s largest buyer of goods and services – from spacecraft and advanced scientific research to paper clips and landscaping services. Military and civilian purchases total more than $425 billion a year. And federal agencies are required to establish contracting goals, with at least 23 percent of all government spending targeted to small business. The U.S. Small Business Administration has programs and services aimed at leveling the playing field so that small businesses obtain a fair share of government contracts.
Is Government Contracting Right for You?
Government contracts can provide significant revenue. But they’re not necessarily the right decision for every business. Here are some basic questions.
• Willing to do ongoing, detailed research to find procurement opportunities and take the time to prepare and present offers (including bids and quotes)?
• Willing to be a subcontractor to companies that are prime contractors?
• Positive your business can financially support the execution of a government contract that may involve significant start-up costs?
• Prepared to learn and follow the rules relating to federal acquisitions?
READ MORE to learn all the steps.