It's the start of the legendary 'fiscal year end' for Uncle Sam and everyone is on the hunt for those last minute opportunities as agencies 'empty the tanks' of their fiscal budget dollars.
Are you prepared to capitalize on it? Have you done your homework? Established those all important relationships? Understand who has money left and who doesn't?
Do you know how your prospects spend their Q4 dollars and which of those dollars and purchasing methods relates to what your company sells and how they can reach you in a procurement situation?
Over the last three completed fiscal years which saw significant downturns in overall contract spending, federal agencies increased fiscal year end obligations made using Simplified Acquisitions:
- $500M increase in Q4 obligations from FY2012 to FY2013 during a $56B downturn
- $1.5B increase in Q4 obligations from FY2013 to FY2014 during a $20B downturn
This is just one of the ways opportunities for small federal contractors have expanded during Q4 and throughout the fiscal year.
Procurements made using the Simplified Acquisition Procedures
are one of the easiest ways for Government agencies to purchase supplies and
services including construction and research and development. Each fiscal year, sixty federal agencies, boards and commissions obligate billions of dollars using streamlined purchasing rules that reduces the administrative burden for them and for vendors. Additionally, small business concerns win most of these every year with only half of the obligations to small federal contractors resulting from set-aside procurements.
That's just the start of why we refer to these purchases as low-hanging fruit for small federal contractors!
Other factors include:
- a shorter procurement cycle than other types of purchases
- most solicitations are RFQ versus RFP requiring lower level of effort to respond
- the inherent preference for agencies to engage small business concerns with buys made in the Simplified Acquisition Threshold,
- the number of dollars awarded to small business concerns without use of set-asides,
- majority of all Simplified Acquisition dollars are not awarded against established contract vehicles
Increasing your company's knowledge of how and why government agencies leverage these streamlined rules, especially during fiscal year end, can give you an edge in capturing these opportunities.
During this presentation, Guy Timberlake of The American Small Business Coalition, will expertly guide you through an interactive discussion to show you the top departments and agencies making these buys during fiscal year end, what they buy, what award instruments they prefer to use and other useful information to help your company prepare to capture fourth quarter low-hanging fruit!
Pre-registration is required. Space is limited.
Complimentary for CORE, GovCon Wingman and Business Growth Partners;
$55/Individual and Associate
Members;$95/Not Yet Members
The ASBCs of Government Contracting is a trademark of The American Small Business Coalition, LLC.