Most small company run from the idea of competing for government contract because they believe that the procedure is too cumbersome and too much red tape.
Nothing can be further from the truth. About 20 decades ago, government contracts were in fact cumbersome and burdensome. However, the congress realized that its revenue potential was diminished due to this truth.
As a result, new modifications were made to federal acquisition regulations and other laws. Rather than enormous contracts, the government generally has to say the end result. The contractor now tells the bureau how it will accomplish the job. This methodology is called performance based contracting.
The sole requirement for a company to accept government contracts is to be enrolled at fbo.gov – nothing longer.
Given the declining market, small companies need to seriously start looking into government contracting as a source of income. It can be quite rewarding. But you have to learn the ropes or retain someone who understands how the government works.
In order to ease the Small Business Act, there are now various small business applications that enable people who are eligible to make the most of greater government contract attorney opportunities. Examples include the SBA 8(a), HUBZone, Service Disabled Veteran applications.
It’s not a nightmare to do business with the federal government. As company venture into the discipline of lucrative company, they ought to at lease hire specialist s that knows the intricacies and rules of federal procurement.