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Learning More on 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 risks taken will be worth it in the end. The government does business with very few companies in the U.S. The new opportunities available for bidding by private business for government contracting was worth 1 billion. Bidding services available were food services, janitorial services and the development of complex space flight systems. Winning tenders and award of many contracts to companies is done on a daily basis . The multi- billion dollar marketplace that is government contracting should be invested in by small businesses. Procuring products and services with values of over 25,000 dollars per year is accomplished through two techniques by the government. 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. There are certain IFB standards that should be met by IFB standards. 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 way the government processes this contracts always change. 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. New trends have come up that affects the small business sector over the recent years. The procurement reform is the number one trend to look at. The reform involved streamlining the procurement process to ensure cost efficiency and effectiveness of the governments operations. 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.
5 Key Takeaways on the Road to Dominating Professionals
The initiatives to be implemented in the health care reforms are imaging, data entry technologies, multimedia, ID cards and business process re- engineering. This will enable small businesses have a share in government contracting. The proposal quality involves the quality of the proposal and the work that the contractor will do. Do not hesitate in joining government contracting as the best time is now. The businesses that started out started with small contracts and have won bigger contracts over the years. Long term contracts that are awarded to businesses through government contracting enables them make big profit margins during the operations.5 Key Takeaways on the Road to Dominating Professionals