The US spends billions of dollars every year on building and construction — and Seattle accounts for just about half of that. Much of the infrastructure in the nation is funded by the local, federal, and state governments. With every year, construction being among the federal government’s top spending categories. And a good percentage of this is allotted to small businesses, but many small business owners in construction struggle to get their foot in the door. Below are ways in which a small company can win a government contract.
It may be obvious, but one of the best ways to acquire a government contract is if you already know someone in the industry. Not only can this help you pitch your business, but people within the industry can give you insights into what they’re looking for in a contractor. It’s a way that you can tailor your services, messaging and interview to their special needs rather than a broad approach.
The most judicious thing you can do is be knowledgeable about the type of construction contract the government is offering. Analyzing your company internally to understand your strengths and weaknesses is vital.
Having a detailed understanding of your company’s strengths means you’ll market yourself effectively, and understanding your weaknesses is paramount to mitigating risks. Construction business owners who approach a prospective project broadly rather than focusing on the specific job, typically lose the contract they’re going for.
Be on good terms with Small Business Association (SBA)
The SBA website has useful information, i.e. fundamental and technical information on contracting. Run through the reading to acquaint yourself with all the bidding procedures of acquiring as well as rules and regulations. SBA is the one tasked with the delivery of small business contracts which is why being in sync with them can help you land a contract. They’ll help small businesses within the range of $14 million to $35.5 million.
Be on the GSA schedule.
US General Service Administration links contractors to government buyers. By being on the GSA schedule, it means you are legible for conducting business with the government. To be on GSA, you must pay for past performance evaluation report available ratings. The information will evaluate your performance parallel to other businesses in the same industry. During the bidding processes, the report requires contractors to register and give out at least six clients’ names.
Some big construction companies subcontract small companies to carry out their construction activities. The SBA keeps a record of chief federal contractors who are constantly looking for subcontractors. The GSA publishes a comprehensive list to connect businesses with contractors and subcontractors. Subcontracting is a quick way to get noticed by the government and get more projects thrown your way.