If you are thinking of getting into federal contracting and get benefited extensively, it is not that easy. Getting access to government projects require possession of GSA contracts which holds the license to sell goods and services to federal agencies.
GSA-General Service Administration is a federal program, which serves as the link between your private firm and federal agencies. By applying for the highly beneficial GSA Schedule Contract Program, your firm will be entitled to more than millions of dollars of projects and will have the opportunity to sell commercial goods and services in the federal marketplace. Such contracts can be ordered via an online shopping system. These types of schedule contracts will only be offered to your firm if it has a track record of offering standard commercial goods and services at an affordable rate.
Getting a lucrative GSA Schedule contract has its own set of benefits. Such benefits include getting the license to do business with the federal government, allowing your firm to become a pre-approved vendor and serve as the ideal contract vehicle for other firms. Such government contracts also offer the feasible avenues of the federal market and certain prioritization over your competitors along with contract stability for a period of 5 years. Federal firms use such schedules to obtain shorter lead tenure, save money, deliver directly and reduce the administrative expenses along with meeting few set-aside obligations. Such activities can fulfill the objectives of small businesses and endorse adhering of economic and social rules.
Individuals who can purchase from such federal contracts include- federal firms, local and state governments, tribal government, executive agencies and mixed-ownership government companies.
Getting such a federal recognition enables a GSA Schedule Contract holder to complete the hugely funded business deal with the government at a much faster rate. It also offers the advantages to compete with other contract holders. Such schedules are considered as the most widely utilized contract vehicles in the US government program. To add to it, your firm can win federal contracts by locating new bid options and presenting good proposals. Such a process implies penning down a GSA proposal, contending with other qualified vendors and waiting in line for an award for more than months.
GSA searches for companies who have a business record of more than 2 years and previous expertise along with client references to support them. Such companies should have sound financial resources and must have the skill to uphold pricing strategies.
Getting a GSA contract is a long and complicated procedure and consumes around 12-13 months of hard work. The tenure also depends on a few other aspects such as the quality of the proposal of your products and volume of proposals received at the acquisition hub. After procuring the contract, you will be enjoying a streamlined source of revenue for your company from the federal government.