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Is there a secret to securing government contracts?

  • 14 Nov 2016

Every year Government contracts are given out to SMEs and other small businesses across varying sectors, and indeed nations, all over the world. Such opportunities can be vital for upcoming companies as it’s a chance to demonstrate what you can do in a bigger and potentially very lucrative platform – but it’s fair to say this is quite a competitive area in which to find work.

So how can you go about securing one of these for your business and are there any ‘secrets’ or strategies as such to put your company ahead of the competition? In this post, we examine some useful advice and approaches to take that you could implement into your business, to help make such ventures a reality for your firm.

The benefits of securing such contracts

Firstly, it’s worth emphasising just how beneficial such contracts could be for an SME – particularly for those who have a quality product or service, but have yet to make an impact on the markets. The benefits include:

  • The obvious financial gains of securing work for your business
  • Opportunities to secure further work and projects by getting your foot in the door
  • Being part of a bigger initiative with many other businesses, giving you the chance to grow your own network
  • The chance to use this contract as an example of your versatility in the future

Advice for spotting an opportunity and getting a contract

There are several ways to go about sourcing these deals and equally there are different tactics you’ll need to employ. Here’s a selection of such tips:

Register your Business

No matter which country you’re intent on working with, you’ll need to register your business with those respective Government systems and setups, to show you are eligible for such contracts.

Research Future Developments

There are tools available such as this ‘Contracts Finder’ from the UK Government, which you can also register with and use to help you keep up to date with the latest developments and potential contracts. These can also allow you to search through different industries as well, to narrow down your options.

Get Networking and Working with Others

At the same time, it’s a good idea to diversify and get networking with other companies to find out as much about the differing industries you might be working with. In turn, this could help improve your pitch and proposals.

To give you an example of how wide-ranging this could be, the recent developments of the London Olympic Stadium saw £25m-worth of Government contracts. These covered everything from the reconstruction of the stadium, to the big developments of the transport links and logistics of the area, as well as more commercial developments of the nearby shopping centre complex.

Re-evaluate if Necessary

The last piece of advice is to change and adapt your product or service offering if you are unsuccessful in your first applications for Government contracts. Look to use the feedback you receive to review your pitch to improve your chances next time.

If all else fails though, you can seek external professional help to assist you with the finer nuances of secure Government jobs.

To answer the titular question with all this in mind, it would seem that the ‘secret’ to all this is to simply put the effort in and follow the above processes to help get your SME one of these contracts. While there’s no getting away from the fact it will still be a challenge, these steps can significantly help your chances, so get started with these now and take advantage of everything a Government contract can provide.

Author: Marcus Turner Jones

 

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