Since sequestration has begun, increasing the possibility of budget cuts that may affect the government contracting market, as a contractor you may be asking yourself: what effect will all of this have on enterprises that do business with the government?
It’s safe to say that the already-competitive market for government contracts will get even more competitive. Federal, state and city RFPs are going to become more difficult to find and compete for. Bid amounts may be decreased, which could lead to lower profit margins for contractors and suppliers. Other repercussions from sequestration may include the loss of existing contracts, or the creation of fewer published RFPs, leading to a significant decrease in municipal and county bids from local businesses. Sequestration will impact all industries differently, but regardless of which market your company competes in, you’d be smart to get ahead of the cuts by registering with a reputable bid service.
The area of government in which your company bids will likely be required to absorb significant budget reductions. If your company is bidding on RFPs for only one one industry, you are particularly vulnerable to reduced opportunities for government contracts. Although by definition a sequester means across-the-board budget cuts, government agencies will find it challenging to implement budget reductions evenly across all departments. To ensure that your company stays profitable and continues to thrive during sequestration, consider diversifying your target contracting market and submitting local government bids. By expanding the scope of contracting work that your company can participate in, your firm will be able to maintain its livelihood if a particular sector of government reduces the scope of their contract with your firm. Receiving help from a government bid service will allow your firm to expand and diversify your service offerings, opening your company up to opportunities in areas that may be less affected by budget cuts during difficult times.
Ultimately, using a government bidding service can help your company find the most relevant and profitable RFPs. This type of service gives companies easy access to requests for proposals and saves money and resources by streamlining the city and county bid process. Furthermore, when state and local RFPs are scarce, a government bidding service ensures that your company won’t miss any chances for work. Bid notifications can be sent directly to your firm via email, eliminating unnecessary manual searching for government contracts and creating additional opportunities in new markets.
Paying an employee to sift through newspapers and agency websites looking for municipal and county bid opportunities is very costly, and may put your firm at risk of missing out on valuable RFPs if published contracts are missed. This process is no longer necessary. Your company can save money and maximize resource efficiency by subscribing to a government bid service to locate state and municipal request for proposals for you, without unnecessary resource expenditures.
It may seem like budget cuts are more likely to become a permanent reality, but with some careful planning, sequestration doesn’t have to result in a more difficult operating environment for companies seeking out government contracts. In fact, companies that develop a strategy get ahead of the cuts are likely to emerge from the sequestration period stronger and better-prepared to succeed in the future.