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An Overview of Government Contracting Due to the fact that government contracting poses a complex environment to small business they fear venturing into this market. If small business do not seek expert assistance in this field, they will placing their financial prosperity at much risk. The rewards will be worth it in the end. The government does business with very few companies in the U.S. About 1 billion worth of new opportunities were available for bidding by private business for government contracting. The services for bidding include the 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. Two means of procuring products and services with values of over 25,000 dollars per year are used by governments. Invitation for bids (IFB’s) and request for proposal (RFP’s) are the techniques For the IFB it is a procurement advertisement that will be awarded to the lowest priced bidder. The IFB has standards that must be met according to performance and delivery of the bid. A full scope of work that is, the how the project will be done, time and by whom is the requirement of the IFB. In addition 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. The two major areas that were targeted by President Bill Clinton were keeping low deficits and long term investment in economic growth, fighting crime and the children and workers skills. 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. Streamlining of the procurement process to ensure cost efficiency and effectiveness of the governments operations is what this reform consisted of. Outsourcing support services and purchasing IT systems to increase the ability of the federal force to be productive and effective is what the national performance review (NPR) entailed.
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Health care reforms such as imaging, data entry technologies, multimedia, ID cards and business process re- engineering are the initiatives to be implemented. 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. The time to start involving yourself in the government contracting is now since you reap great fruits. Businesses that started with small contracts are now getting big contracts. Businesses make hefty profits when the get long term contracts in government contracting. 5 Key Takeaways on the Road to Dominating Professionals