The federal government is a massive supplier of contract work in our nation. This year, it awarded 23% of those contracts to small businesses.
That amounts to a record-breaking $105 billion in contracts. And, that’s only the amount paid out to small businesses. Imagine the total payout for all federal contracts.
Government contract jobs are lucrative and stable money sources for your construction business. Not pursuing these contracts is like ignoring a significant part of the market.
While bidding on them may seem daunting, there are some guidelines you can follow to smooth out the red tape.
Here’s what you need to know up front.
Bidding on Government Contract Jobs
You’ll face some stiff competition, but it’s worth the effort to win the contract. Knowing how to find contracts and write bids gives you an edge on larger businesses. And once you’ve done it, you’ll know how to bid again and again.
It’s a good idea to get familiar with the process you’ll go through. Then, read on for more information about bidding on government contracts.
Get Organized, First
Gather your business license information, tax ID. Get your qualifications and credentials for your construction company in order, too. Anything that makes you better qualified for the job is a plus for your bids.
One of the things you’ll need to do is register with the System for Awards Management (SAM) database. It’s a place where you’ll register your business as a potential contractor. It puts you in the pool of contractors the US Government will consider.
Documentation supports your claims about your business and its qualifications. Be sure you’ve got them ready to upload.
Find Contracts in your Field
Do your market research. Subscribe to a service to search for contracts in your geographic area and field of service. The General Services Administration (GSA) is a good place to look for contracts, too.
In fact, the GSA has a forecasting tool that can give you an idea of future contracts. This can help you plan ahead for contracts you may want to bid on!
Get Some Training on Writing Contracts
Don’t let government contracts intimidate you. Learn about them.
The Small Business Association (SBA) has great training information about bidding on contracts. You’ll learn about the rules, regulations, and procedures for bidding.
Learn how to get an edge on the competition! Get qualified as a small business. Or, qualify in a special category to give yourself an advantage in the bidding process.
Once you understand how to bid, it’s a good idea to create a bidding template for future use. That way, when contracts come up, you can plug in your information and send it in!
Don’t let your lack of experience keep you from bidding on government contract jobs. It’s a well-paying part of the market you don’t want to miss out on. Get organized, do your research, and start bidding!
Looking for more advice? We’re happy to help. Contact us, here.