The New Normal (For Now..)
As we adjust to the new normal brought on by the pandemic of COVID 19, contracting with the federal and government has also seen some changes. Federal, State, and Local government procurement is primarily focused on essential items i.e. masks, gloves, gowns, hand sanitizers, shields, etc. If you currently sell or can procure these items, there is an opportunity. Opportunities can be found on FEMA’s website or if in the State of California, for example, on Caleprocure.
However, if you 1) Don’t have these items for sell and 2) Want to know what you should be doing to survive in contracting in this environment, consider the following three tips:
1. Stay in the know
As business is likely slower than usual, now is the time to make sure you keep you up-to-date on changes that may impact and/or help your small business. The Paycheck Protection loan (PPP) and the Emergency Disaster Impact Loan (EIDL) are two programs that have constantly been in the news and are ever-evolving. For instance, effective today, the SBA issued an Interim Final Rule that limits the loan amount for corporate groups to $20M. Note: the interim rule is applicable even if the SBA’s affiliation rule is waived under the CARES act.
2. Follow the Opportunities
Keep track of what the government is currently buying and keep track what is forecasted to be purchased in the coming months. Send your Capability Statement to those who may procure what you sell in the near future after the pandemic subsides and be sure to respond to Requests for Information.
3. Build Your Infrastructure
Spend time getting your infrastructure built, re-organized, and/or positioned to take advantage of, or even pivot to take advantage of any opportunities that may be coming. Ensure your small business registrations, certifications, accounting system, supply chain, marketing strategy, etc. are in order. The latter will make it likely you are prepared when all contracting resumes. Be sure to keep in contact with current and former customers and pursuing partnerships that will benefit your company’s growth.
Remember: remain nimble and ready for the next contract opportunity.
