3 things you need to do before bidding for government contracts

If you have ever had someone reject a form because you failed to fill it correctly, you have some idea of what bidding for a government contract will be like.

The competition is so challenging for these lucrative contracts that you need to have your priorities in order and all the right boxes checked when you apply.

Consider if you are ready to apply for a government contract

If you do not have everything the contract application states you need, get them before going further. Even if you do not make it in time for this contract, it will leave you better prepared for the next opportunity. Here are three things that can help your chances:

  • Find out how the government categorizes you: You can only bid for specific contracts depending on how the government sees your business. For example, if your annual turnover is over a certain amount, you may be ineligible to apply for contracts reserved for small businesses. Check your North American Industry Classification System (NAICS) code to find out where you fit.
  • Check the insurance requirements: Government contractors are often required to provide greater insurance cover than private contractors. The contract information should state what coverage you need to show.
  • Be sure you have all the required paperwork: The contract application does not have a place to explain that you have almost completed the necessary certification but are waiting on the assessor you hired to make time to carry out the final review. You either have a certificate, or you do not. If you do not have it in your hand, do not apply.

It takes time to complete government contract applications. If you think you have everything you need, then seek external help to make sure. Remember, a contract is a legally binding agreement. Signing it then discovering you cannot deliver could lead to serious legal problems.