Obtaining a government contract for the business is like an insurance bond. Not only does it assist in maintaining the reputation of the company but also invites many other offers as well. But how does a company win a contract with Uncle Sam
FREMONT, CA: To set up the business for bidding on federal government contracts is similar to selling products or services to commercial customers. The basic principles that are applied to the business are the same as with the federal government. Both the entities want quality in product or service at a reasonable price, delivered on time. Market research is the most essential in any case, with additional face-to-face meetings to understand and clarify the necessities the federal agencies are looking for.
By following a few steps, the business will be supercharged as the partnership is being carried out with the largest buyer of everything in the U.S. from tires to cookies, the federal government. By navigating the many layers of bureaucracy can turn out to be challenging. Here are the essential steps to getting acquainted and obtain projects to work from Uncle Sam:
1. Obtain a D-U-N-S Number:
To apply or conduct business with the federal government, a Data Universal Numbering System (DUNS) Identification number is most important. It can be obtained for free from various websites tied up with the government.
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2. Figure Out the Industry Identification Number to Search for Work Available:
The product and service codes are name-tagged as Federal Supply Codes and Product Service Codes (FSC/PSC) in the Department of Defense. More commonly, the North American Industry Classification System (NAICS) codes are also noted.
3. Cross-Check for Qualification in Preferred Business Status:
The interested businesses need to register with the System of Award Management. It determines whether the company is eligible, if it is considered “small” for the particular domain, or if it qualifies for the preferential status. These statuses include aspects such as woman-owned, HUBZone certified, or run by a veteran to name a few.
4. Level Up the Business Protocols for Government Standards:
There are certain aspects of a business which is compulsory to have to get selected. These are features such as business insurance, high-speed Internet, a business plan that showcases the company’s ability to carry out the potential work for Uncle Sam effectively. It is crucial to display the working capital available to carry out these tasks as it is a job-winning quality. A detailed procedure for recordkeeping and executing the meticulous maintenance habits will help shield the company in case of an audit by the federal government auditor.