An Overview of Government Contracting Due to the fact that government contracting poses a complex environment to small business they fear venturing into this market. High risks will be placed on the financial prosperity of small businesses if they do not seek expert assistance in this field. The rewards will be worth it in the end. Very few companies in the U.S do business with the government. About 1 billion worth of new opportunities were available for bidding by private business for government contracting. Bidding services available were food services, janitorial services and the development of complex space flight systems. A couple of companies are winning such tenders and get awarded these contracts on a daily basis. The multi- billion dollar marketplace that is government contracting should be invested in by small businesses. The government utilizes two means of procuring products and services with values of over 25,000 dollars per year. The two means are Invitation for bids (IFB’s) and request for proposal (RFP’s). A procurement advertisement that will be awarded to the lowest priced bidder is the IFB. The IFB has standards that must be met according to performance and delivery of the bid. A full scope of work that is, the how the project will be done, time and by whom is the requirement of the IFB. The main people to carry out the project and the qualifications of the company are needed. The government keeps changing the way they process this contracts. Keeping low deficits and long term investment in economic growth, fighting crime and the children and workers skills are the two principles targeted by President Bill Clinton. Over the years new trends have come up that affects the small business sector. The first trend is the procurement reform. Streamlining of the procurement process to ensure cost efficiency and effectiveness of the governments operations is what this reform consisted of. The national performance review (NPR), involved outsourcing support services and purchasing IT systems to increase the ability of the federal force to be productive and effective.
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Imaging, data entry technologies, multimedia, ID cards and business process re- engineering are the initiatives to be implemented in the health care reforms. Small businesses will be able to get a share in government contracting. The quality of the proposal and the work that the contractor will do are what consisted of the proposal quality. The time to start involving yourself in the government contracting is now since you reap great fruits. Start with small contracts like the businesses that started like this and they are now winning bigger contracts after years. Businesses make hefty profits when the get long term contracts in government contracting. 5 Key Takeaways on the Road to Dominating Professionals

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