Government agencies often come across as sprawling bureaucracies with a deeply complex, multi-layered organization. This often makes winning public contracts seem like a daunting task for small businesses.
However, thanks to innovative software such as Tenderwell, coupled with opportunities specifically tailored for small companies, public bidding is an extremely lucrative environment that should be neglected by entrepreneurs.
Every day, local, regional, and national governments across the world publish what is sometimes referred to as tenders, Requests for Proposals (RFPs), or open-bid contracts, and many of these are available for small businesses.
Finding available opportunities, understanding and meeting the bidding requirements, and successfully completing the criteria needed to win these contracting opportunities can be challenging.
Specially designed apps such as Tenderwell give even the smallest of businesses a competitive edge when it comes to winning government bids and availing themselves of the plethora of contracting opportunities out there.
Small business programs and initiatives
Many governments around the world have specific contracting opportunities just for small businesses.
The United States, for example, has a specific government agency known as the Small Business Administration (SBA) that works alongside other government programs, while Canada has the Small Business Financing Program (ISED-ISDE) and a business benefits finder to help companies with everything from information on tax credits to getting expert advice.
Similarly, in Britain, the government set up the Contracts for Innovation initiative to help small businesses take advantage of funding and contracting opportunities.
Thankfully, apps like Tenderwell put all the opportunities provided by state programs in one easy-to-use online app.
Whether it’s searching for a suitable bid (or setting up an alert to notify you when one becomes available) amongst the thousands that are published daily or ensuring that your bid meets the formatting and eligibility requirements of the publishing government agency, Tenderwell is specifically designed to make the entire process as painless as possible.
As part of their effort to ensure transparency and get the best value for money for taxpayers, many government agencies have established a system to fulfill their need for goods and services. These government bids are then evaluated according to a strict set of formal criteria, which then selects which business will be awarded the contract.
With just a few clicks, Tenderwell users can stay on top of every step of the bidding process, including:
- Performing research on previously awarded contracts
- Forming partnerships and coalitions (where necessary) in order to win a bid
- Understanding the strict formatting standards and templates that government agencies require in order to accept a bid.
Furthermore, Tenderwell makes sure you stay on track with bid deadlines and are informed when a contract is successfully awarded.
Key industries and agencies for small businesses
Certainly, some projects like building dams and highways are too big in scale for a small business to ever hope to implement. However, a significant number of government initiatives to provide goods and services are specifically targeted for small businesses.
Sometimes, even larger projects require an entire constellation of subcontracted goods and services from many smaller vendors in order to be implemented.
In short, there is no limit to the contracting opportunities, even if you run a smaller firm. However, some of the key industries for small business include:
- Technology (especially advanced technology and computer programming)
- Hospitality and tourism
- Health care (particularly in rural or remote settings)
- Accounting and insurance.
Furthermore, as we discussed, there are many government and multilateral agencies that work exclusively with or only provide contracting opportunities for small businesses. This is because it has been universally recognized that smaller firms are the best engine for economic growth as well as the ideal provider of goods and services that require a nimble, fluid, and dynamic approach.
For beginner entrepreneurs just starting to dip their toes in the world of government contracting opportunities, the whole process can feel quite bewildering.
Not only are there thousands of tenders published every day, but each one comes with its own unique requirements, deadlines, templates, and eligibility standards.
This is why companies rely on apps such as Tenderwell to cut through the confusion and quickly find suitable contracting opportunities, submit bids in the proper format to be accepted, and avail themselves of the rich library of available resources surrounding previously awarded contracts to strategically formulate a winning bid.
Strategies for success in government contracting
Whether your company is only just now considering getting into the world of government bids or you’re an experienced veteran, the most important thing to know is that success depends on having a clear-sighted and well-formulated strategy.
Government contracts can be an extremely lucrative revenue source for small companies, but only if they are prepared to execute an informed plan to maximize their chances of identifying and winning government contract opportunities.
And a big part of how small businesses find success in the world of government contracting is by using tailor-made apps such as Tenderwell.
Instead of the messy, scattershot approach of scrolling through dozens of government websites every day and tracking everything by hand with spreadsheets, apps like Tenderwell bundle everything you need to successfully compete on government bids in one place.
Tenderwell is a cloud-based, encrypted app, which means that you never have to worry about installing anything or staying abreast of updates. And because it’s an online app, it works with every computer and mobile device, meaning all the vital information about government contracts is always at your fingertips.
Even better, Tenderwell has a powerful search engine and a suite of advanced filtering tools to help your small business quickly identify suitable government contracting opportunities.
And for Tenderwell members, there’s also the option to set up notifications so that you’ll be alerted whenever a government contracting opportunity becomes available that fits your organization’s capabilities and needs.
Final word
Tenderwell is a one-stop solution for small businesses seeking to avail themselves of the lucrative opportunities available in the world of government contracting.
With an intuitive, easy-to-use interface and a wealth of resources available with just one click, your organization has everything it needs to identify eligible government contracts, bid on them according to the publishing agency’s standards and requirements, and successfully be awarded a government contract.
Contact Tenderwell representatives today to find out more about how government contracts can provide a lucrative revenue stream for your business and how Tenderwell can make this process much easier.