We break down a few misconceptions – good and bad – about working with the federal government and point you in the right direction to get started with this highly rewarding process.
We touched on several misconceptions in our previous blog post, ‘Working with the U.S. Air Force as a Contractor,’ but we want a chance to clear the air around the idea of contracting with the federal government. The thought that this will be a challenging task keeps many individuals from getting started. So, if you’re still skeptical, you’ve come to the right place!
My business isn’t large enough to be competitive.
According to the U.S. Small Business Administration, the federal government has an annual goal to award 23% of its contracting budget to small businesses; in Fiscal Year 2019, they exceeded that goal by awarding 26.5% of their budget to small businesses – that’s nearly $133 billion. This yearly allocation has carved a specific advantage for small businesses, so the idea that your business won’t have the requisite size to be competitive is a total myth.
I probably won’t even win a contract bid.
It’s natural to seek a federal contract, make a bid for it, and not succeed the first time – but prospects aren’t as grim as you may believe. According to a report from American Express, most small businesses saw their first successful bid within one year. That’s less time and resources than commonly thought, plus Vertx Partners and its knowledgeable team of industry insiders can help cut that time down even more.
I don’t have to work too closely with the Contracting Officer.
If you’re not familiar with the term, your Contracting Officer (or, C.O.) essentially functions as the liaison between yourself and your customer, the United States government. A governmental Contracting Officer is an individual bestowed with the right to initiate a contract between a private entity and the sovereign power of the United States, so there is no private industry corollary. Entities new to government contracting may want to circumvent the authority of the Contracting Officer, but they are paramount to securing a successful partnership and seeing the contract through to fruition.
Bureaucratic red tape will prevent any real progress.
Here’s the most common one. We already touched a bit on this in the previously mentioned blog post, but ‘red tape’ isn’t as big of a deal as most come to find – the big takeaway from federal contract work is that the rules are different, not more complicated. In some respects, considering the U.S. government as just another client is helpful, but it’s a limiting metaphor in light of real differences (see the previous bullet point for an example). By working closely with Vertx, we can help you make sense of the differences and navigate you towards success.
Alternately, government contracting is easy.
This isn’t so much a common misconception but a possible conclusion some may come to when seeing overnight success stories related to landing a government contract. Make no mistake; breaking into government contracting can be difficult. Fortunately, there is a wealth of resources at your disposal should you choose to pursue this route, with Vertx Partners being one of them.
The purpose of this blog is to relieve you of any overriding anxieties you might have about initiating this process. It’s also to let you know you have an ally in Vertx that can assist in steering you down the right path for you and your business.
Are you interested in taking the next step? Reach out to Vertx Partners today – our services are completely free.
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