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.
How Do You Get Started Working With The Government?
SAM stands for System Award Management.
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 that has not registered in the SAM directory.
We have an article on our site, Everything You Need to Know About SAM for Small Businesses, that gives you important information about this process.
As a smart entrepreneur, you have already used our site to register in the SAM directory. Congratulations on taking this important first step to become a government contractor.
Registering With The SAM Directory Also Has Other Important Advantages
You must register with the SAM directory to apply for government grants.
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).
A grant is different from a loan in that it is money that your business does not have to pay back. So, registering for the SAM directory gives you access to free money!
What are some examples of grants for Small Businesses?
The Small Business Innovation Research (SBIR) encourages small businesses in the United States to engage in research and development that has economic potential.
Their website states their mission is to support scientific excellence and technological innovation through the investment of Federal research funds in critical American priorities to build a strong national economy.
The program’s goals are four-fold:
- Stimulate technological innovation.
- Meet Federal research and development needs.
- Foster and encourage participation in innovation and entrepreneurship by women and socially or economically disadvantaged persons.
- Increase private-sector commercialization of innovations derived from Federal research and development funding.
The following are a list of agencies that participate in the SBIR program:
- Department of Agriculture
- Department of Commerce – National Institute of Standards and Technology
- Department of Commerce – National Oceanic and Atmospheric Administration
- Department of Defense
- Department of Education
- Department of Energy
- Department of Health and Human Services
- Department of Homeland Security
- Department of Transportation
- Environmental Protection Agency
- National Aeronautics and Space Administration
- National Science Foundation
This Is Not An Oversaturated Field
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. A smart small business can put themselves in a very favorable position to win government contracts if they just follow our guidelines.
So, How Does A Small Business Successfully Start Relationships With Key Government Agencies?
The first step is to become familiar with the government marketplace. Do your research and become familiar with the terms that are commonly used in that industry. Then study the different regulations and become certified with the government, if necessary. You could also attend government trade shows to better understand the needs of particular government and state agencies. This will help you identify the needs of prime contractors and any niches that your business could fill.
A Fantastic Presentation Is The Key To Success
Having a good presentation is vital to winning over the federal government. You want to be able to make an excellent impression that goes beyond just having a great price point. It is important to understand that this is not your typical business client. Because the presentation to the United States is so different from presenting to other businesses, many companies get flustered. Let us guide you through this often intimidating process.
Be Prepared To Give An Oral Presentation
Oral presentations are very common for companies who want to work for the United States government. This is not going to be your typical audience. You might not get the greeting and niceties that usually come with this type of business meeting. The government employees are not allowed to react to anything that is said. You should be used to seeing no feedback until the question and answer period.
SAM Directory Can Help
Remember, registering for the SAM directory gives a business 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 us, the professionals at SAM Directory, make sure that you do all that is needed to not miss out on this important opportunity. We will make certain that your application is processed quickly and efficiently so you can start being a federal contractor as soon as possible. We remove this hassle so you can go about the important mission of running your company. Stay tuned for the next article in this series.