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 have not registered in the SAM directory.
Why Does My Business Need To Register For The SAM Directory?
What if I told you that there is a large revenue base for your business 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.
Small Businesses Are Given Special Consideration When It Comes To Government Contracts
In many markets, small businesses are often outcompeted by larger organizations that often have access to almost unlimited resources. This set aside actually might increase a small business’s chances of winning a lucrative bid.
The federal government is required to set aside at least 23 percent of its total spending specifically for small businesses. Several small businesses have made a fortune just on federal government contract awards.
Can a Small Business really hope to compete for federal 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 2018 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.
Small Business Administration Certifications
A Small Business Administration certification is a great way for your business to stand out in the marketplace. Certifications can help you gain access to specialized funding and scholarships, allow you to compete for set-aside contracts, and can be a great bonus to potential clients. Here are some certifications to consider for your small business:
- Women-Owned Small Business Federal Contract Program (WOSBs)
- 8(a) Business Development Program
- The Service-Disabled Veteran-Owned Small Business Concern Procurement Program(SDVOSB)
- Historically Underutilized Business Zone Program (HUBZone)
Are There Any Other Advantages To Registering For The SAM Directory Besides Government Contracting Opportunities?
A business has to be registered with SAM before they can begin to apply for valuable federal grants.
What Is A Federal Grant?
A grant is a way the government funds your ideas and projects to provide public services and stimulate the economy. Grants support critical recovery initiatives, innovative research, and many other programs listed in the Catalog of Federal Domestic Assistance (CFDA).
Why Is The Government Giving Away Free Money?
Innovation and ingenuity are important to any society. In order for any economy to be competitive in the modern world, they must make sure to open up avenues to grow and nurture new businesses. To put it simply, the government gives out grants because it serves the greater good to serve the needs of the people.
What Do I Need To Register For The SAM Directory?
It is important that a business understands the government classification system which includes the following codes:
- NAICS
- PSC
- FSC
What is a NAICS number?
NAICS is a six-digit code that stands for the North American Industry Classification System. Many federal agencies post contracting opportunities using the NAICS codes. The NAICS is used as an internal reference that quickly describes what a business does. You want to make sure you have the correct NAICS number to qualify for as many contracting opportunities as possible.
What is the PSC number?
PSC stands for Product Service Code and is primarily used by the Federal Procurement Data System (FPDS) and the General Services Administration (GSA). They are used to describe the types of products, services, and research and development purchased by the federal government.
What is an FSC Code?
Federal Supply Class (FSC) codes are four-digit codes that are used to group products into logical families for supply management purposes. These codes are also used to classify government standards documents into categories, to help manage them more easily. FSC codes are grouped by Federal Supply Group (FSG) numbers.
Make Sure You Get A CAGE Code (Commercial and Government Entity)
This code is five characters and unique to your business. It’s basically your ID code, and government agencies will identify your business using this code. It is a bit like a social security number for your business. If your business includes more than one facility, then you will need multiple CAGE codes. Each location must have its own unique code, and each location must be registered separately with SAM.
What can I do to make registering for the SAM directory as easy as possible?
All this information can at first seem quite daunting at first. We understand that as a small business owner, you have a million things to accomplish on any given day. However, you also do not want to miss out on the honey hole of opportunities provided by the federal government. It is important that you get registered into the SAM directory as quickly and efficiently 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 completely. This website can make sure 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 really have nothing to lose.
Remember, registering for the SAM directory gives automatic entry into the extremely 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 sam.directory make sure that you do all that is needed to not miss out on this important 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 important mission of running your company.
Small businesses are the lifeblood of the economy. They are often key sources of innovation and research. The mom and pop shop has been part of the landscape and American dream since the beginning of this great nation. Let the federal government help you achieve your business dreams and establish yourself on the pathway to success.