5 Basic Steps to
Getting Government Contracts
2) Match your skills to what's being sought. Chances are your business has something that the government needs. Thoroughly read the bid specifications. Then, read them again. Make sure you can take on the job before you submit your bid.
3) Make sure you're eligible to bid. This typically involves at minimum a current business license. Read the bid documents to ensure that you meet all requirements.
FIND GOVERNMENT CONTRACTS IN YOUR AREA!
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4) Meet the requirements. Varies by project. The following usually apply, especially if you employ workers:
- Be the lowest responsive, responsible bidder
- Provide performance and payment bonds if required (often for 100% of contract amount)
- Submit bid bond - usually 10 percent of bid, which is paid at time of bidding
- Pay the prevailing wage to employees (both construction and service contracts)
- Provide insurance: 1) state minimum for workers compensation; 2) comprehensive general liability.
- Complete the project on time and within budget
- Comply with licensing requirements
- Comply with labor laws, on-time payrolls and prevailing wage regs
- Adhere to employee safety and Workers Compensation laws
- Comply with environmental protection laws
- Perform the contract according to plans and specifications
Also see:
How to Get Government Contracts
The government can be an excellent source of revenue for your small business, but you have to know the system. Here's how to get started. (Begins five-part series.)
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© Copyright 2008 Michael Riley. All rights reserved.
