Q4 in government contracting tends to come with some predictability, but thus far 2020 has seen unprecedented challenges worldwide. Today we want to share what we know about the government contracting space, what has yet to be determined, and how you can maximize opportunities unique to this time. 

What We Know

8(a) and sole source opportunities will be utilized to efficiently contract by fiscal year end, but remote work may impact efficiency and execution. We are also still seeing an increase and repurposing of funding to address COVID-19. Federal contractors should be reaching out to their contracting partners in the federal government to see how they can support their needs. Although there is significant and specific spend on products and services directly related to the COVID-19 response, there are also significant ancillary needs, like staffing augmentation and IT support services.

What Needs To be Researched

It is important to continue engaging with your federal partners to see how any additional federal funding is being spent. As we all know, agencies have requirements to bring more funds under management (i.e. the Category Management Initiative), so it is important to understand not only what contracting vehicles will be used for any potential new funding, but how existing requirements will be re-bid.

We have seen client after client who have been impacted by their existing requirement being moved to a Best in Class Vehicle. You have to understand your customer’s Category Management goals. Get clear on which contracts are vulnerable. And develop a plan to capture future opportunities.

If you are an incumbent, but your requirement is going to be moved to a BIC which you don’t hold, it is important to do your homework and identify potential partners that do hold the BIC vehicle. Many such contractors would welcome the incumbent to be on their team.

What To Do

GovContractPros provides small businesses with expertise in business strategy, business development, advocacy and government relations, expert witness, certifications, and trainings. Get in touch to see how we can help you tap into the nearly $500 billion federal marketplace.