DOING BUSINESS WITH FEDERAL GOVERNMENT
Every business person or investor in a particular nation requires business support from the government of the country the business is situated at.
An Fbo is a great resource for finding RFQs, RFPs and tenders from the federal government but vendors need more to succeed in government contracting. Federal procurement guidelines require that bids worth $25,000 or more to be published through FedBizOpps.
However, since federal contracts worth less than $25,000 are not required to be published, not every government opportunity will be listed with this service.
These include special socioeconomic preferences that afford opportunities to new and small business contractors that do not exist in the commercial marketplace and the comfort of dealing with a generally reliable customer.
The corporate tax rate is generally lower than the individual tax rate. In some cases, incorporation offers some financial benefits.
Fed Biz Ops website can be accessed publicly which is accessible through the web. There is a common misconception that the Federal Government does not offer enough funding opportunities specifically targeted at increasing and supporting the participation.
Contracting with the Federal Government involves competing in a regulated marketplace and creating requirements and potential liabilities that generally do not exist in the profitable marketplace.
After using FedBizOpps you may find that your service offer is a better fit for state and local bidding opportunities rather than federally-administered contracts.
The pursuit of State, local or federal contracts is something that many business owners consider to be critical to the success and growth of their business.
The Socioeconomic Requirements in these government platforms exists in areas such as Equal Opportunity/Favorable Action, Environmental Protection and Drug-Free Workplace.
There also exist many potential drawbacks that do not generally exist in the commercial jurisdiction, including the Government’s right to terminate the contract at its convenience and the possible banning of business disputes.
If you are ready to tender on federal contracts, it’s necessary to submit your business profile to the primary database that federal agencies use to locate contractors.
These offices work within their agencies to identify opportunities to include small businesses as vendors to their agencies.
After all, we trust them to make the right procurement decisions with our taxpayer dollars. Convincing government buyers that you’re a worthwhile business partner who can help them achieve their goals requires a different approach that one you’re used to seeing in the marketable sector. Cooperation and teaming is very important in government contracting.