Winning a government contract can help lift your company way above its current position. Not only can it boost your profits, but it can boost your standing, ensuring that potential customers choose you over the competition.
The bidding process is complex, and many suitable companies have seen their applications rejected because of errors they made in their applications.
Here are some to avoid:
#1. Bidding for something you are not eligible to bid for
The government often limits who can bid for which contract. Sometimes it reserves them for contractors above a certain size. Other times it only allows smaller companies to apply. Make sure you understand where you fall under the North American Industry Classification System (NAICS) to avoid wasting time on applications that will be discarded upon receipt.
#2. Failing to have the necessary insurance
Your usual insurance may be inadequate for a government contract, even if you have taken on similar sized jobs privately. Make sure you can get the required cover before applying.
#3. Failing to hold all the necessary paperwork
If the contract rules state you must have certificates X, Y and Z, make sure you have them. If you cannot get them in time to apply for a particular project, don’t waste your time and the government agency’s by applying. Instead, wait for the next opportunity to come along knowing you have everything in place.
There is massive competition for government contracts and massive benefits to be had for those who succeed. Getting experienced legal help will increase your chance of winning and boosting your business.