Government spending is on the rise. Are you ready?

Over the last 14 months, the COVID pandemic changed the plans for the government and for government contractors. This is changing again. As COVID restrictions are being lifted, government agencies are starting to increase their spending. According to data on the Trading Economics website, “Government Spending in the United States increased to 3371.51 USD Billion in the first quarter of 2021 from 3320.36 USD Billion in the fourth quarter of 2020”.

This is good news, so the question is, are you ready? Are you ready as the government releases new opportunities? Are you ready to build a team around an opportunity? There are 3 things you can do right away so you do not miss opportunities as they become available.

Identify your company’s NAICS codes.

North American Industry Classification System (NAICS) codes classify a business’s industry, country, and economic sector. NAICS codes are used for government contracting and, therefore, are required in order to register your business. The SBA provides guidance so you can identify the correct codes for your business. It is common for businesses to register for multiple codes.

Apply for small business certifications.

A portion of government spending is set aside for different types of small businesses. Because of this, it is important to apply for small business certifications, so you are eligible for small business set-aside opportunities. Common certifications include HubZone, Woman Owned Small Business, Minority Owned Small Business, Veteran Owned Small Business, and Service Disabled Veteran Owned Small Business. It takes time to complete the application, but it is well worth it.

Subscribe to a government opportunity matching services

There are so many opportunities that it is impossible to manually find all of them. It is a good idea to subscribe to a government opportunity matching service. BC2Match is a government opportunity matching service that uses “intelligent matching” technology to find real-time opportunities based on your criteria as well as helping you build a team around an opportunity. How does this work?

• Target and search opportunities specific to NAICS codes, schedules, agencies, and other criteria.
• BC2Match scours multiple data sources and aggregates fragmented data and produces automated, real-time results based on your criteria.
• See government contract opportunities, with the best matches first, based on how well your profile matches opportunity requirements.
• Get notifications as new “matched” opportunities become available.
• Receive in-depth knowledge of opportunities that include the government agency, contract details, contact information, and due date.
• Post your requirements to build a team and use BC2Match’s scorecard to see which members match your need.
• Connect with other primes, subs, and suppliers to create relationships for new and future procurement opportunities.

As government spending increases, the opportunities will also increase. You need to stay ahead of the game and be ready. As you are registering your business for NAICS codes and applying for certifications, start a free trial with BC2Match and get new opportunities immediately.