Small Businesses Benefit from the Stimulus

Whether you are already involved or know nothing about it, now is the time to take a closer look at government contracts. The $787B stimulus package is making a lot of money available for contracts, and contractors have only begun to scratch the surface of those funds.

The federal government is ready to award 23% (or roughly $180B – yes that’s $180B of the above number) of its procurement funds to small businesses. In order to get this money, you have to be ready to do the necessary networking and research that will put your company and its services on the map.

Starting out as a prime contractor is very difficult, so the best thing to do if you are starting is to look for subcontracting opportunities. Of course there are many benefits to being a prime, but as a sub, you can start to build up your federal past performance, an important element of any contract competition.

Stay up to date with events that the SBA might be holding, such as networking events between large contractors and small businesses. Be able to clearly define your company’s skill set and your key product/service differentiators (how are you different/better than your competition – “what’s your secret sauce”) so that you can demonstrate to potential primes how you fill a niche capability on their team.



Look for Part II tomorrow: Capitalizing on the Small Business Advantage

Follow me on Twitter @TurckLLC

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