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All politics aside, the enormity of the federal government provides a wealth of opportunities for small businesses to supply goods and services. It’s estimated that the U.S. government buys over $600 billion worth of goods and services every year, ranging from extremely complex circuitry and programming to cleaning supplies and janitorial services. What’s more, under federal law, 23% of government contracts are supposed to be awarded to small businesses—that’s $138 billion set aside for small businesses to claim. Yet, the idea of breaking into government contracting seems so daunting that many business owners don’t pursue the opportunity.
Here are the steps to take in order to help land your first government contract:
Of course, these three steps are simply the starting point in the process, but they are necessary if you want your share of more than half a trillion dollars.
Still feels like too much red-tape? Before you slam the door on the idea, explore what the upside could be for your business.
Find Your Opportunities
Even before you complete the registration process—or decide you want to tackle the process at all—you can start familiarizing yourself with the opportunities available for businesses in your industry and location. Here are some avenues to explore.
You can find other resources on the Small Business Administration web page, “Contracting Resources for Small Businesses .” While federal contracting might not be a fit for every business, it is an option that is worth investigating.
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