The federal government and small businesses go together like bread and butter. When they work together, the governmental entity gets to work with a specialized small business and often has access to upper management that it would not have otherwise. The small business, on the other hand, obtains an excellent, continuous source of revenue while the contract lasts. The problem is that, similar to the small business loan marketplace, the RFP (Request for Proposal) marketplace can be tedious and difficult to understand. Many small business owners have no idea what a lot of the language means, and putting together the proposal can be a very daunting task.
The SBA launched the RFP-EZ Marketplace in order to streamline the proposal process for government projects, thereby allowing more small businesses to partake. It is a simple online platform that is easy to work with and easy to understand, and it helps not only small businesses, but also makes it easier for government offices to see which businesses might best fit their needs.
Why Small Businesses Need Government Contracts
Government contracts are often a huge source of income for small businesses. Landing a contract for the government can be like a lifeline. While the contract may only be temporary, the guarantee of work and revenue for the duration of the contract is major for many businesses and their owners.
Why Government Needs Small Businesses
Small businesses offer governmental entities prices that are often far less than their larger counterparts could offer, and often direct access to the CEO. This is a win-win for all involved, and local economies receive a boost as well.
Bidding on a government contract is no laughing matter. It is imperative to fulfill any contract won. This may mean expanding operations, which may require financing. The good news is that often financing is easier to obtain, especially small business loans, once a contract is in place.
When it comes time to expand, whether to fulfill a contract or just to increase production for current client base, Biz2Credit can help you navigate the small business loan marketplace. Our network of over 1,300 lenders offers business loans of all types, including small business expansion loans. Visit Biz2Credit today for more information.