Office of Budget and Management Estimates $2 Billion Lost from Government Shutdown

GOVERNMENT CONTRACTING TIPS

In light of the 16 day government shutdown last month, the Office of Budget and Management (OBM) has estimated over $2 billion lost from furloughed federal employees and contracting projects across the nation, according to a report from the Federal Times on November 7th, 2013. This $2 billion estimate according to Sylvia Burwell, Director of the OBM, is based on the average salary of each department and does not include the time it took to for each agency to close and reopen. Now that the government has been reopen for almost a month government contracts have started to surge again. In order for a business to bid on and start winning awards in the federal marketplace they must first be registered in System for Award Management (SAM).

 

The United States Federal Government is the largest buyer of products and services in the world, spending approximately $540 billion each year, according to the USASpending website. Federal agencies buy everything from office furniture and cleaning services to construction and security services. Nearly every conceivable product and service there is a demand for in the private sector, a customer may also be found in the public sector.

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