As American nears the Final Fiscal Quarter spending spree, US Federal Contractor Registration encourages businesses to become registered in System for Award Management and begin marketing their goods/services. Vendors that are not registered and readily available to participate in federal contracts will miss out on the billions of dollars in anticipated government spending. According to Deltek, around $461 billion in government contracts will be spent in the month of September. The average spending budget is between 7% and 9%, whereas September has seen a total average of 17.6% over the last five years of spending.
Several federal agencies decide to releases large projects and spending the remaining funds of their budget in the last fiscal month of the year. Based on the figures releases from previous years the State Department has a history of spending 55% if their budget in the final fiscal quarter. In fact, the Social Security Administration and the Department of the Interior both average 48% of their overall spending in the final fiscal quarter. The US Housing & Urban Development Department, DOD and Air Force each spend 28% of their budget at the very end of the fiscal year. Businesses that are prepared utilizing federal marketing programs such as the Simplified Acquisition Programs and National Awareness Program have a large advantage at winning several contracts in the federal marketplace.
With 23% of all federal contracting dollars being devoted exclusively for small businesses, US Federal Contractor Registration has begun its wide spread marketing campaigns promoting the spending of the final fiscal quarter.