Entering the federal government contracting space may seem overwhelming in the beginning, but the source of potential income is astronomical. So, sit back, take a deep breath, and allow us to guide you through the process of being awarded your first federal contract!
For any business to operate in a successful manner, its customer base must be large and loyal in order to maintain a profit. Aside from private clients, the federal government is a great client to add to your customer base. Though this thought may seem overwhelming, the United States of America is the largest purchaser of goods and services in the entire world! The next thing you may be thinking is “The government would never be interested in what my product or services is”. This is simply a fallacy. The United States Government has interest in a wide variety of services and goods, so don’t rule yourself out!
Let’s Get Started
Now that you have decided to begin the journey of government contracting, it has most likely become apparent that there are some tedious requirements to get through before you can even begin competing. Often, the registration process alone is enough to turn many companies away from doing business with the United States Government. Don’t get discouraged though! You can do it and we can help you through!
Before you can submit a proposal to the government you will need to register your company with Systems of Awards Management (SAM). SAM is managed by the Small Business Administration (SBA) and is a federal vendor database that enables government agencies to search for businesses to fulfill their needs. Registering with SAM is as easy as answering some basic questions about your business model and what services your business can provide to the United State Government. Your companies SAM profile is in sorts your companies resume so you will want to make sure to spend some time using descriptive keywords and terms to ensure you are included in all the right search results!
In the government world, your business information is identified by the utilization of codes such as the Duns & Bradstreet (D-U-N-S) Number and a North American Industry Classification System Code (NAICS Code). A D-U-N-S Number is used to identify your business’s physical location and the NAICS Code is used to classify what industry your business is in. Additionally, you will also need to know your Employer Identification Number (EIN) which is assigned by the Internal Revenue Service (IRS). The more information you place into SAM, the easier it will be for the government to find you when it comes time for solicitations specific to what you have to offer.
Once your registration with SAM is completed and approved, you can start submitting proposals immediately on open federal government contracts. You can view the available contracts by using the “Contract Opportunities” tab on the SAM website. You simply input the key word such as “Social Media” and all open federal contracts related to social media will populate. Once you click on “open contract”, a list of attachments are provided, explaining proposal submission instructions, scope of work and period of performance. It is important to follow the instructions exactly as they are solicited, or it will result in disqualification. Take the extra time to review your proposal for spelling errors and to make sure all the mandatory requirements are included! If you are unsure how to prepare a compliant proposal or need assistance we can help!
Once you are awarded your first contract, you must maintain compliance with laws and regulations such as the Federal Acquisition Regulations (FAR). Also, it’s just as important to deliver an on time quality product or service. Proving to be reputable and reliable to the United States can provide a steady revenue stream to your business and build long lasting relationships for generations to come.
If you need help getting your company established in the government contracting space, our team has over 20 years of accoutning and consulting experience, tailored to your success in the federal world. Contact us today and learn how we can help take your business to a whole new level!