13 min
Introduction to Government Contracting by Linda Rawson GovConBiz with Linda Rawson
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- Empreendedorismo
Linda Rawson provides an Introduction to Government Contracting. Welcome to the launch of GovConBiz!
Our mission is to educate and inform small business owners, to take their business to a new level. We can show you how to win business with the federal government.
Hello, I am Linda Rawson, Founder of GovConBiz. I am the founder of DynaGrace Enterprises. DynaGrace is an 8(a) graduate and an Economically Disadvantaged Women-Owned Small Business and has been in business since 2006.
Why am I different?
You can see the prime contractor awards that DynaGrace has won on a site called USASpending.gov. I am personally responsible for DynaGrace winning millions in federal government contracts and am excited to show you how to do the same.
The federal government awards over $500 billion in contracts every year. That is $1.2 billion every day - $52 million every hour - $860,000 every minute - and $14,000 every second! (https://www.sba.gov/about-sba/sba-newsroom/press-releases-media-advisories/federal-government-achieves-small-business-contracting-goal-sixth-consecutive-year-record-breaking)
That is a lot of money, right? Whether you are a supplier, a contractor, or a service provider there is a lot of money to win especially as a Small Business.
Do ever wonder what it takes to compete and WIN in the world's largest market? You may be wondering how you can get a piece of that action. So much paperwork!
Well, it is not easy, and it is not for the faint of heart, but it does have its advantages
The Advantages of Government Contracting
* Stability. DynaGrace was recession proof through the Covid-19 pandemic. We continued to get paid.
* Consistent Work. If you are doing an excellent job the government will want to do business with you again and again.
* Find More Opportunities. Government Contracting is an opportunity for your company to grow. You may have killed it in the commercial sector now do that in the government sector.
* Assured Payment. If you contracted with the government to do a job, and they said you did a great job. It may be awhile, but you will get paid.
* Increase Company Value. Your revenue goes up because of the substantial size of the contracts.
Advantages for Women and Minority Owned Businesses especially when there are percentages required for each of these socioeconomic statuses.
Steps to Get Started in Government Contracting
* Incorporate
Your local state government has a method for you to incorporate. You will need to figure out what kind of corporate structure you should be whether LLC, S-Corp, C-Corp or Sole Proprietor. You lawyer can help with that.
* IRS Employee Identification Number (EIN)
During the incorporation process, your state will ask you to have an IRS Employee Identification Number. These are also easy to get but remember you don’t want to go back and modify the information. Make sure everything is correct.
* Get a Bank Account
A local credit union are fine to begin with. We are in a day and age of digital money.
* Find a NAICS/Niche
Start analyzing what you do. Your niche and pick a primary North American Industry Classification System code.
Linda Rawson provides an Introduction to Government Contracting. Welcome to the launch of GovConBiz!
Our mission is to educate and inform small business owners, to take their business to a new level. We can show you how to win business with the federal government.
Hello, I am Linda Rawson, Founder of GovConBiz. I am the founder of DynaGrace Enterprises. DynaGrace is an 8(a) graduate and an Economically Disadvantaged Women-Owned Small Business and has been in business since 2006.
Why am I different?
You can see the prime contractor awards that DynaGrace has won on a site called USASpending.gov. I am personally responsible for DynaGrace winning millions in federal government contracts and am excited to show you how to do the same.
The federal government awards over $500 billion in contracts every year. That is $1.2 billion every day - $52 million every hour - $860,000 every minute - and $14,000 every second! (https://www.sba.gov/about-sba/sba-newsroom/press-releases-media-advisories/federal-government-achieves-small-business-contracting-goal-sixth-consecutive-year-record-breaking)
That is a lot of money, right? Whether you are a supplier, a contractor, or a service provider there is a lot of money to win especially as a Small Business.
Do ever wonder what it takes to compete and WIN in the world's largest market? You may be wondering how you can get a piece of that action. So much paperwork!
Well, it is not easy, and it is not for the faint of heart, but it does have its advantages
The Advantages of Government Contracting
* Stability. DynaGrace was recession proof through the Covid-19 pandemic. We continued to get paid.
* Consistent Work. If you are doing an excellent job the government will want to do business with you again and again.
* Find More Opportunities. Government Contracting is an opportunity for your company to grow. You may have killed it in the commercial sector now do that in the government sector.
* Assured Payment. If you contracted with the government to do a job, and they said you did a great job. It may be awhile, but you will get paid.
* Increase Company Value. Your revenue goes up because of the substantial size of the contracts.
Advantages for Women and Minority Owned Businesses especially when there are percentages required for each of these socioeconomic statuses.
Steps to Get Started in Government Contracting
* Incorporate
Your local state government has a method for you to incorporate. You will need to figure out what kind of corporate structure you should be whether LLC, S-Corp, C-Corp or Sole Proprietor. You lawyer can help with that.
* IRS Employee Identification Number (EIN)
During the incorporation process, your state will ask you to have an IRS Employee Identification Number. These are also easy to get but remember you don’t want to go back and modify the information. Make sure everything is correct.
* Get a Bank Account
A local credit union are fine to begin with. We are in a day and age of digital money.
* Find a NAICS/Niche
Start analyzing what you do. Your niche and pick a primary North American Industry Classification System code.
13 min