Federal and State governments offer certifications for Veteran-Owned, Women-Owned, Minority-Owned, and many more distinctions. Obtaining any of these certifications will boost your chances of receiving contracts worth millions of dollars. Here are some of the most prominent certifications you can receive for your business:
Read on to see the four main benefits of getting certified at the State or Federal level. If you’re ready to see if your business meets the qualifications to get certified, call (727) 472-5845 for immediate assistance.
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Why Registering Your Business with FEMA is Crucial for Disaster Recovery: Lessons from Hurricane HeleneSeptember 30, 2024 - 2:47 pmAs a small business owner, your chances of receiving Federal contracts are greater than you may think. Every year, the government mandates what is referred to as “set-asides.” Set-aside goals give small businesses a fair fight in the battle to win government contracts that could bring much-needed revenue to the company.
More importantly, set-asides are reserved exclusively for small businesses with specific certifications. For example, each year, any particular government agency must spend 5% on Women-Owned Small Business Certified companies.
When it comes to Government purchasing, most contracts will be extremely competitive. But sometimes, there are exceptions to this notion.
Sole-source contracts are a kind of contract that can be issued without a competitive bidding process. This happens when only a single business can fulfill the needs of the aforementioned contract.
Unlike other contracts, a sole-source contract will not be published publicly by the Small Business Administration (SBA). That means businesses attempting to bid on open contracts will not be able to find the contract terms leaving it available for a firm just like yours.
At a snapshot, in Fiscal Year 2021, the Federal Government spent $6.82 trillion, making them the largest purchasers in the world. Giant Federal agencies such as the Department of Defense, General Services Administration, Department of Transportation, and FEMA purchase via Government contracts.
Running a small business is not easy. Statistics show that more than 20% of small businesses fail within the first year of opening. Exposing every form of revenue should be at the forefront of an owner’s mind. Getting certified to compete for Government contracts will help you gain much needed revenue.
Above all else, the government never stops spending money. By getting certified to compete for government contracts, even in the toughest of times, you can rely on recession-proof income coming to your business.
The simplest benefit to receiving a Government certification for your business is the elimination of competition. Basic thinking says, the less competition, the higher probability of success.
Whether you’re a Veteran hoping to get VOSB Certified, or a Minority looking for an MBE Certificate, doing so will put your business far above competing entities.
Selling your products or services to the U.S. Government can be long and frustrating. At Government Services Exchange, we’ll complete the paperwork for you, get your business registered and certified properly, and connect you to contracts that will expand your business for the future. Call us today to discuss your businesses capabilities.
2651 Mccormick Dr, Clearwater, FL 33759
A Quick Guide to Women-Owned Business Certifications
