How to Find Federal Contracts That Suit Your Business
Step 1: Recognize the Opportunity
The United States government has an annual federal contracting budget of roughly $650 billion per year. And the Small Business Administration (SBA) ensures that at least 23% of that budget is allocated to small businesses.
That's why the government awarded $148.9 billion in federal contracts to 83,255 small businesses in 2021.
We're talking about contracts for hospital remodels, light bulb replacements, water purification systems, road sign installation, cleaning services, battery replacements, food assistance programs, fitness equipment, playground equipment, construction, engineering, technology, IT, and thousands more...
And for the vast majority of industries, the average value of a federal contract is well beyond $100,000.
So, there's a brand-new revenue stream out there waiting for you.
Step 2: Help Government Agencies Find You
The world of federal contracts is basically its own economy, so it's no shock that there are multiple databases that serve the purpose of connecting small businesses and government agencies.
We'll soon touch on a direct way for you to find government contracts to bid on, but you should also be aware of a database designed to help government agencies find contractors.
That brings us to Dynamic Small Business Search (DSBS).
The DSBS is a database maintained by the Small Business Administration (SBA), and used by agencies to find contractors for their projects.
The SBA pulls information from the System for Award Management (SAM), so you should consider registering your business and creating a business profile within SAM.
Step 3: Know Where to Find Government Contracts
We just mentioned SAM. Well, this is also where you can track down government contracts on your own
Start by going to Sam.gov.
For all federal contracts over $25,000, government agencies are required to advertise the details on SAM.
Once you're in SAM, you'll find a search bar that looks something like this:
Step 4: Customize Your Search
Within that search bar, select "Contract Opportunities" on the left-hand side.
On the right, type in a term closely related to your business or the services your business offers. For example, you could type in "Fitness Equipment" if that's what your small business produces or works with.
You'll find a list of active government contracts to which you can apply.
Step 5: Don't Forget About Subcontracting
You now know how to find active government contracts suited to your small business. But don't limit yourself to that one avenue of benefiting from government contracts.
Subcontracting is another wonderful opportunity for many small businesses.
When a large business wins a federal contract but needs additional help to fulfill that contract, they go looking for subcontractors. That could be you!
When prime contractors post opportunities for subcontractors, they get listed on the SubNet database.
Check it out and see if subcontracting is right for your small business.
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The federal government needs to know it can adequately protect sensitive information and prevent cyber threats. So, it requires its small business partners to meet the security standards of the Department of Defense.
Through cybersecurity infrastructure and consulting, CyberMyte allows your business to meet these compliance standards.
It's the first and only security cloud designed to win you federal contracts.
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