As Vicky Vendor helps explain in this video, contracting with the Federal Government can open the door to many opportunities for your business.
Federal, state and local governments spend billions of dollars each year. In 2016, U.S. government agencies awarded more than $477 billion in contracts.Your business has the opportunity to earn this business. When it comes to federal contracting opportunities, how do you take advantage?
You need to register as a federal contractor and certify your business. Here are the steps to get your business certified and the applicable registrations.
1. Obtain a D-U-N-S Number
- Unique 9-digit identification number for each physical location of your business.
2. Register your Business with the System of Award Management (SAM)
- Database of vendors doing business with federal government.
- Also known as “self-certifying” your small business.
- SAM allows agencies and contractors to search for your company.
3. Find the NAICS Codes for Your Company
- The code classifies your businesses:
- Economic sector
5. Get Past Performance Evaluation from Open Ratings, Inc.
- Audit of customer references
- Assigns rating based upon a statistical analysis.
- You can submit an online request directly to Open Ratings, Inc.
In summary, here’s what you need:
- NAICS codes
- Data Universal Numbering System (DUNS)
- Federal Tax Identification Number (TIN or EIN)
- Standard Industrial Classification (SIC) codes
- Product Service codes
- Federal Supply Classification codes
For more info go to the U.S. Small Business Administration.
For more information on getting started as a government contractor, and to discuss bid/RFP opportunities in your industry, please call us at 888.808.5356, or visit: BidPrime.