A 10-Step Guide to Federal Contracting

Diving deep into the lucrative federal contracting space

Author

MF BANKS
April 10, 2024

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A 10-Step Guide to Federal Contracting

Today, we're diving deep into the lucrative world of federal government contracting. If you're considering expanding your business horizons by becoming a federal contractor, you're in the right place. Here's a step-by-step guide to help you navigate the process smoothly.

Step 1. Determine Your Eligibility

Before anything else, ensure that your business qualifies to work with the federal government.

Small Business Administration (SBA) Size Standards - This tool will help you determine if your business qualifies as 'small' under federal guidelines.

Step 2. Obtain a D-U-N-S Number

A unique nine-digit identifier for your business.

Step 3. Register Your Business

Register in the System for Award Management (SAM), the primary supplier database for the U.S. federal government.

Step 4. Know Your Codes

Understand the North American Industry Classification System (NAICS) and Federal Supply Class Codes (FSC) relevant to your business.

Step 5. Seek Out Set-Asides

The federal government reserves certain contracts for specific types of businesses.

Step 6. Explore FedBizOpps

FedBizOpps (FBO) is the federal government’s official site for posting all federal contracting opportunities.

Step 7. Prepare a Strong Capability Statement

This document showcases your company's strengths and expertise to potential government clients.

Step 8. Network and Build Relationships

Attend government contracting events, workshops, and conferences to network with decision-makers.

Step 9. Stay Informed

Subscribe to newsletters and alerts related to federal contracting to stay updated on upcoming opportunities and changes.

Step 10. Consider Partnering or Subcontracting

Sometimes, it's beneficial to partner with another firm or offer subcontracting services to get your foot in the door.

Breaking into federal government contracting may seem daunting, but the potential rewards—financial stability, business growth, and contributing to national projects—are immense. Commit to the process, stay informed, and never underestimate the power of networking.

Government Contracting for Dummies: This guide offers insights and advice on everything from understanding the procurement cycle to managing and complying with federal regulations.