If you are looking for more business opportunities and want to expand your companies reach, consider bidding on government contracts. This can be done at the federal, state or local level, and the resulting business can do wonders for your growth and revenue. Whether you supply rf power dividers, apparel or medical equipment, you will have to start by registering your business with the System Award Management platform in order for eligibility on federal opportunities.
Create a SAM Profile
In order to create a SAM profile for your business, you will need to have your DUNS number. You can reach out to Dun and Bradstreet for this information. You will need to supply the codes from your North American Industry Classification System. This is a list of codes that encompass the nature of services or products you provide. These codes will also help you identify contracts you would be a good fit for down the road. Once you have created a SAM profile, you can begin your search for government contracts.
Establish Your Interests
There are many options to help you look for a good contract option. Women-owned, minority or small businesses may qualify for preferential bids and access with specific contracts, though you should direct your search based on contracts that you have an interest in. Once you have isolated a few contracts, you can use the FedBizOpps website to register and receive notifications about federal contract opportunities.
It is a much lengthier process to locate possibilities at the local and state-level governments, and you may have to visit multiple websites to get an idea of the contracts available. Places to start your search include county purchasing departments, municipal administration websites and state bidding portals. Each of these individual portals may require its own registration processes.
Bidding on government contracts is one avenue of growth opportunity for your business. Be sure that you can handle the demands of the contract before submitting a bid.