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Small Business's Part in Big Government Spending

Posted by: Today's Tip Contributor on August 18, 2011

Even though we are looking at government budget cutbacks, public agencies still need to purchase goods and services. Here are four tips to help you navigate the world of public bidding opportunities:

1. The first step is awareness. Use a bid mining and notification service that provides opportunities on a daily basis. You can get access to thousands of bids that government entities release across the nation, without having to engage a full-time employee to find these opportunities.

2. Increase your potential target market. The more your company works with and responds to public bidding opportunities, the more likely it is that government agencies become aware of your offerings. Your company just might be able to provide a superior product at a lower cost than the current vendor.

3. Showcase your company’s competitive advantage. Many government agencies are more apt to provide a significant preference to a local vendor, a woman- or minority-owned business, or a small business. These types of certifications allow the government entity to demonstrate that it is providing equal opportunities to all businesses.

4. Once you contract with a government agency, build a trusting relationship. The agency is more likely to designate your company as a preferred vendor, which can lead to more business.

Sabrina Stover
Salt Lake City

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