Government Contracting can be a great way for small businesses to grow. It can provide a new revenue stream and help businesses tap into a larger market. Government Contracting can also help businesses build relationships with other businesses and government agencies.

There are a few things businesses need to keep in mind when considering Government Contracting:

Be sure they are compliant with all regulations;
Have a clear understanding of the award process; and,
Be prepared to manage their award projects effectively.

Government Contracting can be a great opportunity for small businesses, but it is important to do your research and understand the process before getting started.

The first step in Government Contracting is ensuring compliance with all regulations. There are a variety of rules and regulations that businesses need to be aware of, including the Federal Acquisition Regulation (“FAR”) and the Small Business Administration (“SBA”) guidelines.

FAR covers all aspects of the government contracting process, from acquisition planning to contract administration. SBA provides small businesses with guidance on how to participate in the contracting process.

Once you are familiar with the rules and regulations, the next step for compliance is to get registered and begin to identify opportunities. The initial registration process is through the System for Award Management (“SAM”) and the Dynamic Small Business System (“DSBS”). These registrations need to be complete, compliant, and optimized.

It is also important to investigate what socio-economic set-aside certifications or GSA Schedule categories you may qualify for. These set-aside categories include veteran-owned, woman-owned, minority-owned, HUBZone, or 8(a) disadvantaged small businesses.

Government Contracting offers a variety of opportunities for small businesses, including new revenue streams and growth potential. The next step is to understand the award process. It’s important that you research contracting opportunities, not just open solicitations, but expiring contracts and awards not publicly posted.

In fact, the vast majority of awards do not go through the open solicitation process. This is why you need to know your market. You must have a clearly defined plan going in. Who is spending? How are they spending? And in the federal market that is even more important because you want to be able to focus your energy and resources.

A database such as the Market Intel can provide you information on who is buying what you sell? What offices and who should you be reaching out to. This is about research and then creating relationships.

The Federal Connections Package and the Local Connections Package can help you get in front of these buyers with your Capability Statement. They get you to the right contact within the agencies that buy what you sell.

In addition to large contracts, smaller awards are also issued using government credit cards and purchase orders, as well as set-aside just for small businesses.

Under the Micro-Purchase Threshold purchases under $10,000 can be awarded without solicitation.

Under the Simplified Acquisition Procedures threshold, small businesses must be considered for all federal awards under $250,000 if there are two or more small business offerors expected to compete.

These markets, as well as subcontracting opportunities, are your best leaping off point to get started in government contracting and most of this business is awarded through relationships.

Just as in your commercial business, the key to success in government contracting is educating yourself on the market and building relationships with those who buy what your sell.

FedBiz Access (“FedBiz”) offers research and engagement strategy sessions, as well as marketing packages to targeted buyers at the local, state, and federal government levels. FedBiz is a leading government contracting business development and marketing firm that offers research and engagement strategy coaching, registrations, set-aside certifications, and GSA Schedules.

FedBiz has over 22 years of experience working with thousands of companies worldwide to help them win over $35.7 billion in awards. From registration to award, FedBiz helps businesses succeed in the government marketplace.

New to Government Contracting?

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