The federal fiscal year begins on October 1st and ends on September 30th. The fourth quarter spans July, August, and September.
During fiscal year 2023, $758.6 billion was awarded to businesses, including federal contracts, with $246.4 billion occurring in the fourth quarter. This represents 32.4% of all spending. Ideally, each quarter should account for 25% of the annual spending. However, the fourth quarter presents the greatest opportunity to government contracts. The question is, are you ready to take advantage of the fourth quarter and secure your share of this spending?
Why do we still celebrate Black History Month? What is the intersection of Black History and government contracting? Wait, don’t bypass this article because at first glance you think it doesn’t connect to you. It is worth reading. We all stand on someone’s shoulders in our life’s journey.
As the new year unfolds, it's a perfect time to be intentional and design your business to be more successful in the government contracting marketplace. This article will guide you through the crucial steps of goal setting, planning, and implementing the best strategies to succeed in the B2G market.
When it comes to government contracting, you want to be on top of your game, and that means having a killer capture plan and implementing advanced strategies that are rarely used. In this article, we're going to walk you through the steps for developing a short-term contracting acquisition plan, expanding your business with some hidden methodologies, and then implementing a long-term plan with advanced techniques.
Teaming and joint venture agreements are powerful tools often utilized by successful businesses in the government market. Although each agreement may seem straightforward, there are significant differences between them. The SBA has recently implemented new rules applicable to both agreements, so contractors should be aware of these essential differences.
When a company launches its business, many professional advisors suggest that entrepreneurs find a need and focus on that one niche, offering a solution to fill that demand. They are sought after when they are considered specialists in that one vertical*. This strategy works well, especially when there aren't many competitors and they can capture a larger market share.
Navigating the government contracting landscape can be complex, but understanding the steps to find opportunities at federal, state, and local levels can significantly benefit your small business. This guide provides a detailed, step-by-step approach to discovering and securing government contracts, ensuring you can effectively pursue and capitalize on available opportunities.
We are now in the period during which agencies become sharply aware that they need to deploy any remaining budget before the end of the fiscal year or risk losing that funding in the following year. During this period, Federal agencies have historically committed approximately 31% of all contracting dollars. Government contracting officers will be looking for qualified contractors to provide needed products and services.
Join the GCA Family
Only 22% of federal contracting dollars are awarded to small businesses. Our goal is to be an agent of change by helping businesses owned by women, minorities, and veterans to get their fair share of the opportunities in the government market.
