Think government contracts are only for big businesses? Think again! The U.S. Small Business Association (SBA) is dedicated to awarding estimated percentages of their contracts to small businesses. This means that if you aren’t yet, it’s time to start applying for federal, state, county, and city contracts.
Here’s what you need to know to win government contracts.
Am I Qualified to Apply For Government Contracts?
Businesses across every industry can qualify for government contracts. As long as you meet the SBA’s size standards, you can qualify for small business contracts. This means that you make under $7.5 million per year and have fewer than 500 employees. If you don’t meet these criteria, you can bid on contracts that aren’t reserved for small businesses, which opens you up to an even larger (and more competitive) bid arena.
Do Governments Really Award Contracts to Small Fish?
Yes! Not only is it possible, but a designated set of contracts is set aside specifically for small businesses. Some for small and mid-sized businesses in general, and some for business owners from marginalized communities.
For example, the federal government aims to award:
5% of contracts to socially or economically disadvantaged business owners.
3% of contracts to HUBZone-certified business owners.
5% of contracts to women-owned business owners.
3% of contracts to service-disabled veteran-owned business owners.
These percentages don’t include the local city, county, and state contracts you can bid on.
Where to Find Contracts I’m Eligible For?
This is where the fun begins! There are a variety of ways to find federal and local government contracts.
Visit SAM.gov.
Visit your city, county, and state small business administration website.
Utilize a local or nationwide bid-matching service.
Time is money, so utilizing a bid-matching service will streamline and simplify the process. With strategic matches, you invest your time bidding on contracts you are more likely to be awarded.
What is The Benefit of Winning Government Contracts?
With each government contract you win, a variety of benefits come with:
Improved brand identity and inherent trust that comes with winning a competitive bid.
Unless you are contractually prohibited from doing so, the ability to list the government agency as one of your clients.
Depending on the contract, the agency may list you on their website or in other mediums as their contractor.
Even if the terms of the contract are project-based or short-term, governments typically provide equitable pay.
Professional connections that may be a strong source of future referrals.
In addition to seeking out government partnerships, you will gain experience competing for highly sought-after contracts—which may inspire you to seek out other types of bids. Maybe from your local universities and trade schools.
In Need of Additional Growth Strategies?
Whether you win a government contract or not, it is one of many growth strategies that aren’t on small business owners’ radars. In addition to our Website Design, Graphic Design, and Digital Marketing Services—TEK REMEDY offers support with creating capability statements, SAM registration, and more.
Keyword: win government contracts