Monday, April 10, 2017

Understanding How To Be A Government Grantee Or Contractor

By Jason Gray

In order to grow, businesses have to continually expand their client and customer bases. This can be difficult to do when the economy slows down. There is a constant source of revenue available to most businesses however, if owners are willing to consider it. Federal agencies award contracts to large and small businesses that successfully learn how to be a government grantee or contractor. Not all companies even attempt the complicated process, but those that do tell newcomers perseverance and tenacity are important components.

If you want to bid on a federal contract, you are going to need a Dun and Bradstreet identification number and a federal identification number, if you don't already have one. If you are a successful bidder, you will probably have to increase your business insurance to include an errors and omissions policy or increase a current one.

You need to register your company with the governmental database to be considered for any job. A lot of business owners think this is just a formality, but agency staff routinely search the database to fulfill small orders. Be sure to insert relevant keywords in the appropriate field and supply references. Most people who have experience in this area stress how important experience is to federal agencies. They do not necessarily chose the lowest bid. They want to feel assured the successful bidder can do the work.

Hopefully you have developed some networking skills because you will need them if you want to become a successful contract bidder. It is possible to get in touch with the procurement office and, if you have patience and are persistent, you will eventually talk personally to a procurement official. You should also plan to start attending the conferences procurement officials conduct.

The first time you try to fill out a bid solicitation, you will probably feel like throwing your hands up in the air, but persistence will help you here as well. Dividing the document into sections might make it more manageable, but don't be tempted to leave anything out of the final bid offer. One small mistake can cost you a contract. You may not succeed the first time, and if you want to know why not, contact an agency representative for an explanation.

Certain bids must be awarded to small businesses, and if you qualify, you may want to concentrate on these solicitations. You should find out exactly what the federal agencies consider small businesses in order to make sure you have everything you need. Governmental agencies encourage small businesses to bid on larger contracts as well as long as they are able to handle the work.

There is additional consideration given to businesses that have disabled veterans as majority owners. Businesses that operate in areas below median income also have special opportunities.

Growing a business in a sluggish economy can be hard, but there are some good options out there. Bidding on governmental contracts takes time and patience, but it can be rewarding and lucrative.

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