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StreetShares Blog - The Resource Center for Veteran Small Businesses

StreetShares Blog

The Resource Center for Veteran Small Businesses

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How Do You Complete a Contract When You Don't Have Any Money?

By StreetShares on June 18, 2018

When it comes to government contracting, the major issues always seem to come back to money. Like it or not, the world of GovCon revolves around the mighty dollar, and operating costs can be significant. Anyone who’s in the field knows the level of competition for those contracts- and the length organizations will go to secure them.

You’ve done all the vital industry networking, you’ve assembled a team you trust and know can get the job done, and you’ve submitted a winning proposal. Once you win that contract, the next step needs to be securing your funding for the project. After all, it can take anywhere from 30 to 90 days after delivery for the government to pay you. So what happens when you have an abundance of contracts secured, but no funds for payroll, materials, and any other overhead cost that might come into play? You need to secure outside funding. Here are the best options for bolstering your company’s bottom line. 

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90 New Hires in 90 Days: Military Talent Wins in GovCon

A $95 million dollar contract over five years would change the landscape of any small business. Ours went from 15 employees to 105 in less than 90 days. We did it with two corporate recruiters, a strategic partnership, and agile innovation that would turn this GovCon Cinderella into the Belle of the ball. As much as we thought winning was the biggest mountain to climb, staffing our win was basically Mount Everest.

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What is a Set-Aside?

By StreetShares on June 1, 2018

As a small business owner, you are not limited to only providing your goods or services to the general consumer public- you can also sell them to the government! Many business owners are intimidated by the prospect of government contracting, thinking that there's no way their small business can compete with giant corporations. Thankfully, the government helps out with set-asides. Priority is placed within their procurement budget on certain small businesses and contracting opportunities, and can be particularly beneficial for the veteran-owned small business. The government wants to include small businesses when buying goods and services for many reasons:

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6 Things to Be Prepared for Before Winning a GovCon Contract

By StreetShares on May 3, 2018

In our earlier blog series on government contracting, we looked at how small businesses can enter GovCon, factors contractors must include in an award-winning proposal, and tips to succeed in the government contracting world. But government contracting is more than just putting together the ‘perfect’ proposal. It requires hard work, persistence, and immense networking to bag a government contract. While you may think you are prepared to enter this domain, failing to adhere to the rules and regulations can have an adverse effect on your business. This time, we present six things you should be prepared with in order to win a contract.

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Selling Goods & Services to the Government as a Small GovCon Business

By StreetShares on March 12, 2018

Did you know that the U.S. government spends more than $440 billion per year with small businesses ? Federal spending is at an all-time high making government contracting an extremely lucrative option for small and emerging business owners. While getting a pie of the government business sounds rewarding, it sure is a lengthy and bumpy process.

If you feel your product or service has what it takes to win a share of the government business and you are ready to take the plunge, here are five key practices you must keep in mind while selling to the federal government. Get the complete picture of government contracting in our ebook, "The Goverment Contractor's Handbook."

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8 Simple Tips to Help Small Business Government Contractors Succeed

By StreetShares on March 2, 2018

As a small business owner working as a government contractor, you’ve got a lot on your plate. You have to think about writing a great proposal, decide which RFPs to respond to, know trends in the market, stay up-to-date with trainings and changes with the Federal Government, network with other government-focused organizations and contracting officers, understand how account receivables financing, a factoring company or government contract financing works and much, much more. We’d like to arm you eight tips to help with your government contracting small business. Check them out below and in the video. Be sure to download "The Government Contractor's Handbook" for even more tips.

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How to Become a Subcontractor to a Prime Government Contractor

By StreetShares on February 27, 2018

Billions of dollars’ worth of government contracts are awarded to prime government contractors each year. Many of those prime contracts require the engagement of subcontractors. So, how do you become a subcontractor to a prime government contractor?

Let’s first make sure we are on the same page with the terminology we’re using and the steps to being a successful subcontractor to a prime government contractor.

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3 Pre-Award Acquisition Process Terms Government Contractors Should Know

By StreetShares on February 21, 2018

When working with government contracts, understanding some very specific phrases and terms is crucial to successfully navigating the process. Remembering all of these acronyms and definitions can feel like a full-time job for the upcoming government contractor.

With that in mind, we’ll define common phrases and acronyms you’ll see repeated as you research your point of entry into the govcon world.

Today we’ll go over three of the most common requests to contractors the government makes in the pre-award phase: Request for Information, Request for Quote, and Request for Proposal.  

 

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12 Things Every New Government Subcontractor Should Consider

By StreetShares on February 19, 2018

Are you looking for a way to expand your business? Government contracts can be very lucrative, offering exposure and the potential for future work. However, they can also be complex to navigate and it helps to know the lay of the land before you start. Let's walk through the things you should know before submitting your first bid. 

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Veteran-Owned Small Business (VOSB) Verification Shifts from VA to SBA

Currently, it takes 73 days to process an application for a business owner wanting to be certified as a Veteran-Owned Small Business (VOSB) and there is a backlog of 706 applications, according to a town hall at the Office of Small & Disadvantaged Business Utilization. These are two of many reasons why the Department of Veterans Affairs (VA) has recently proposed two changes regarding the verification and programs for Veteran-owned Small Businesses. Knowing how to get verified will help you when working with a factoring company when you're ready for invoice factoring.

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