With almost 30 days left till the end of the final fiscal quarter procurement officers are searching through Dynamic Small Business Search, internal procurement databases and their email accounts to find small businesses that meet their federal set-aside quotas. The following are 3 factors to expect as the fiscal quarter comes to an end:
Close to 40,000 Available Government Contracts on FedBizOpps (FBO)
FedBizOpps or better known as FBO accounts for a little more than a 1/3 of all of the available government contracts on the market. With over 38,300 contracts currently on FBO and rising, businesses are encouraged to become registered in System for Award Management (SAM) and begin the bidding process on these solicitations. FBO is the main database in which procurement officers place the majority of their contracts on. The contract numbers tend to spike on FBO around the final fiscal quarter making it a prime time for government contractors to start bidding.
2. Third Party Registration Procurement Outreach
We have found out after four years in the government registration and marketing business that procurement officers and our contracting connections look to us for available contractors that meet their requirements. With a list of over 20,000 procurement officers in our personal networking database we constantly have federal officials calling in to find available government contracts that meet their award requirements. Businesses hire third party registration firms like US Federal Contractor Registration to develop government marketing strategies and solutions in order to create real connections with procurement officers and win federal contracts. Some of these solutions include:
* Enrolling in a Simplified Acquisition Program
* Creating a Government-Formatted Website
* Starting Nation-Wide, Regional or State Capability Statement Marketing Campaign
* Enrolling in a National Awareness Program
3. Rise in Federal Set-Aside Requirements
If your business is woman-owned, minority owned, service-disabled veteran owned or meets small business federal set-aside requirements you have a market in government contracting. Plain and simple. According to USAspending.gov, the federal government spends roughly $500 billion each year on government contracts. 23% of that $500 billion must go to properly registered small business government contractors. As the last fiscal quarter comes to a close procurement officers start to realize that they need to meet their goal of 23%. Contracting officers use systems like Dynamic Small Business Search (DSBS) in order to track down and find small businesses that meet their procurement needs. Creating a well developed DSBS profile can help a small business beat out their competition. Businesses must first register in SAM before they can create a profile in DSBS. Once their SAM is completed and approved by the GSA their small business will be active in DSBS and their profile can be build and altered.