How do you get into government contracting?
The stringent application process to qualify as a government contractor deters many from venturing into this industry. But that does not mean that you should also give up your shot in making it in the government contracting industry. Here are some of the things you have to prepare before you enter the industry:
GO LOCAL OR NATIONAL
If you choose to become a federal contractor, you can take up whatever project you are qualified for. You can focus your efforts on seeking projects closer to home by asking your local government or trying it big with federal government projects.
If you choose to become a local government contractor, you should familiarize yourself with your state’s different requirements and application processes. Here is a valuable resource from USA.gov to learn more about it. On the other hand, if you choose to become a federal government contractor, you can know more about it as you go along with this article.
Conduct a market research
Entering the government contracting industry is a huge change. So before you decide whether you want to commit yourself to this endeavor, you should research your market first. Take a look at your prospective federal agencies, your competitors, and the overall contracting landscape to see whether your target market needs whatever you are selling. You can visit USASpending.gov to see the federal industry spending trends.
Identify your Unique Selling Points (USPs)
The federal contracting industry is a highly competitive environment. To gain an edge over your competitors, study the data you have gathered from your market research, evaluate your business strengths, then try to see how you can position yourself in the market.
Run a background check on your employees
It is essential for federal agencies, especially with the Department of Defense, that your business, including your employees, maintains a spotless criminal record. You can include in your hiring procedure steps to ensure that your employees don’t have any ongoing or pending criminal prosecution. Otherwise, your contracting firm may not pass the federal agency’s security clearances.
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