Welcome to government contracting! U.S. federal government contracts represent a tremendous sales and revenue opportunity for small businesses because:
The U.S. Government is the world’s largest customer. it buys all types of products and services in both large and small quantities It is required by law to provide opportunities for small businesses
The Government’s Contracting Objectives
As you might expect, the government is very particular about how it purchases products and services. The general aims of the rules and regulations governing federal contracts are to ensure that:
Competition is fair and open—The process of requesting proposals, evaluating bids, and making awards should take place on a level playing field with full visibility. Any business that is qualified to bid should be considered.
Products and services are competitively priced. The government seeks pricing that is commensurate with its formidable buying power.
The government gets what it pays for—The government protects itself by carefully defining requirements, terms and conditions for all purchases. Contractors must document that they have fulfilled all requirements and met all terms in order to be paid.
Both the government and contractors comply with the law—Different rules and regulations apply to different types of purchases. The Federal Acquisition Regulation (FAR) or Defense Acquisition Regulation Supplement (DFARS) apply to most federal agencies. Individual organizations often have their own rules as well.
Want to learn more about government contracting attend our Lunch and Learn on June 1st