What is the Sam Directory?
SAM stands for System Award Management.
In order to do any business with the federal government, you must register your business in the System for Award Management. The government will not hire any type of business large or small that has not registered in the SAM directory.
Why does my business need to register for the SAM Directory?
What if I told you that your business has a large revenue base that is often untapped in many areas and, therefore, might have very little competition in your field?
You might be wondering if this magical source of revenue lives in the land of rainbows and unicorns. The good news is that this is nothing more or less than the United States Federal Government, one of the largest most powerful purchasers of goods and services in the entire world. Our Federal Government provides a lucrative business opportunity that no small business can afford to ignore.
Being A Government Contractor Is A Great Way To Make Your Business Stand Out In An Overcrowded Field
Business can be very competitive. Working on government projects is a great way to make a mark in an oversaturated market. The government has a great deal of work specifically set aside for small businesses.
Also, many small businesses often do not want to deal with the hassle of working with the government, and sometimes there can be surprisingly little competition for a government project. That is why utilizing Sam Directory to handle all the confusing registration requirements is a very smart investment.
What Is Government Contracting?
Government contracting is when specific government agencies contract with private companies for specific goods or services. The agencies usually put out a contract or often a request for proposal (RFP) and various companies can place bids for the project. Once an agency selects a particular business, a contract is signed, and that business is now considered a government contractor.
The United States Government Is A Very Powerful Client With Deep Pockets
The Federal government usually spends around 500 billion dollars a year on goods and services. This makes the U.S. government an extremely attractive client. There are few other organizations with this type of spending power and clout.
The government also tends to buy goods and services in bulk. If your business has the infrastructure to handle large orders, then the government can help you grow substantially at an accelerated pace.
Government agencies also buy goods and services in large quantities. Large orders can be a double-edged sword for small businesses. However, if managed correctly, they can help you grow substantially and rapidly.
Government Contracts Offer Security In These Uncertain Times.
Covid-19 has halted a lot of different industries. However, the government must continue to move forward for the health and welfare of its people. Government contracting can be a shining light in the pandemic darkness and provide a lifeline to many new struggling businesses who are trying to survive this unprecedented situation.
Can A New Small Business Really Compete For Government Contracts?
The Federal Government is required to reward a certain amount of its contract to small businesses. In fact, last year the Federal government awarded 25% of its contracts to small businesses.
In 2019 the U.S. Small Business Administration announced that the Federal government awarded a total of $105.7 Billion worth of contracts for goods and services to small businesses. This marks the first time that more than $100 billion dollars have been awarded to small businesses and marks a 5 million dollar increase from the previous year.
What do I need to register for the Sam Directory?
You will need the following :
- A Data Universal Numbering System or DUNS from Dun and Bradstreet
- Your Tax Identification Number or TIN
- A Social Security Number if you are a Sole Proprietor.
What is a DUNS Number?
The Data Universal Numbering System—or D-U-N-S number—was created and copyrighted in 1962 by Dun & Bradstreet. It is a unique nine-digit identifier that has become the standard numbering system to identify businesses across the globe. You can compare the DUNS number with a social security number for your business.
Any contracting opportunity in the System for Award Management (SAM) will require a DUNS number to apply.
What is the difference between a DUNS number and a Federal Tax ID number?
A DUNS number is used for business credit reporting purposes, whereas an EIN is issued by the IRS and used for tax identification purposes.
CAGE Code (Commercial and Government Entity)
This code is five characters and unique to your business. It’s your ID code, and government agencies will identify your business using this code. If your business includes more than one facility, you need multiple CAGE codes. Each location must have its unique code, and each site must be registered separately.
What can I do to make registering for the SAM directory as easy as possible?
As a small business owners, we understand that you have a million things to accomplish on any given day. However, you do not want to miss out on the honeyhole of opportunities provided by the federal government. Get registered in the SAM directory as quickly as possible.
That is why it is a great idea to go to sam.directory. They understand the importance of proper SAM registration and take this confusing process off your hands thoroughly. This website can ensure you are registered in as little as two days.
If you still have questions, sam.directory will be more than happy to guide you through this often bewildering maze of registration. The consultation is free, and you have nothing to lose.
Remember, registering for the SAM directory gives automatic entry into the highly lucrative marketplace of the federal government. It is also a crucial step for applying for rewarding government grants that can help your business reach its full potential. Let the professionals at the sam.directory make sure that you do all that is needed to not miss out on this vital opportunity. They will make sure that your application is processed quickly and efficiently so you can start being a federal contractor as soon as possible. They remove the hassle so you can go about the critical mission of running your company.