{"id":301,"date":"2019-10-07T14:00:04","date_gmt":"2019-10-07T13:00:04","guid":{"rendered":"https:\/\/ninehub.com\/?p=301"},"modified":"2019-10-08T10:08:34","modified_gmt":"2019-10-08T09:08:34","slug":"4-frequently-asked-questions-about-government-contracts","status":"publish","type":"post","link":"https:\/\/ninehub.com\/2019\/10\/07\/4-frequently-asked-questions-about-government-contracts\/","title":{"rendered":"4 Frequently Asked Questions About Government Contracts"},"content":{"rendered":"\r\n

Did you know that the government is legally obliged to purchase goods and services from small businesses? The US government awards yearly contracts to small business owners that want to do business with the government. Not many business owners know take advantage of this opportunity because (1) they lack government contract financing<\/strong><\/a> and (2) they don’t know much about it. <\/p>\r\n\r\n\r\n\r\n

If you’re\r\nplanning to bid for government contracts, here are four factors you’d want to\r\nknow about. <\/p>\r\n\r\n\r\n\r\n

1. \r\nWho can qualify for government\r\ncontracts?<\/h3>\r\n\r\n\r\n\r\n

All types and sizes of businesses can bid for government contracts<\/strong><\/a>. The bidding is done through municipal and state governments and federal agencies. These contracts can be for goods and services or for research or technical assistance. <\/p>\r\n\r\n\r\n\r\n

Businesses can\r\nbenefit much from acquiring government contracts. Doing business with the\r\ngovernment can promote healthier revenue stream, improve your reputation and\r\ncredibility, as well as increase your chances of acquiring more government contract\r\nopportunities in the future <\/p>\r\n\r\n\r\n\r\n

Even though the\r\ngovernment awards most contracts to large companies, there are numerous\r\nopportunities for small businesses. In fact, the federal government awarded\r\n$105 billion to small businesses in 2018. <\/p>\r\n\r\n\r\n\r\n

2. \r\nDoes the government consider my\r\ncompany as a small business? <\/h3>\r\n\r\n\r\n\r\n

The federal\r\ngovernment has strict qualifications as to what constitutes a \u2018small business’.\r\nBefore bidding, it’s important to understand the guidelines and determine\r\nwhether you can qualify or not. Keep in mind that the qualifications vary\r\ndepending on the industry you’re in. <\/p>\r\n\r\n\r\n\r\n

To know if your\r\ncompany fits the government’s criteria of a small business, check the primary North\r\nAmerican Industry Classification System (NAICS) code for your company. The next\r\nstep is to visit the Table of Small Business Size Standards and look for your\r\ncode. You’ll be able to see the number of employees and the gross profits a\r\nsmall business should have. <\/p>\r\n\r\n\r\n\r\n

3. \r\nHow can I find government\r\ncontracting opportunities?<\/h3>\r\n\r\n\r\n\r\n

If you think\r\nyour company qualifies as a small business, it’s time to search for government\r\ncontracts. There are three best ways to find one:<\/p>\r\n\r\n\r\n\r\n