The New York Times reports there are many federal contracting opportunities for small businesses, but to take advantage of them you have to know the ins and outs of the government’s contracting rules and regulations.
Of the more than 20 million small businesses in the United States, only about 500,000 are currently in a position to do business with the federal government. That’s not because they are the only ones capable of doing the work; it’s because they know how to get the work.
Here’s how big the opportunity is: small companies are eligible to bid on any size contract, but the government is required to reserve all federal purchases between $3,000 and $100,000 for small businesses – unless the contracting officer can’t get offers from two or more small businesses that are competitive on price, quality and delivery.
But before you try to woo the federal government, you have to have a track record. The government usually won’t give a contract to a business if it doesn’t have positive cash flow and if it hasn’t been in business for at least two years, said Bridget Bean, district director of the Small Business Administration’s Washington metropolitan area office.
Continue Reading: “Getting Government Contracts”
Photo by FedBizOpps.