Readiness Checklist
While we’d love to help everyone, Norcal APEX Accelerator (formerly Norcal PTAC) can only assist businesses that are ready for government contracting. See below to see if you’re ready to start your government contracting journey.
Asking yourself these questions will help you determine if government contracting is right for your business.
1.
Are you an established business?
Government contractors are required to meet all criteria necessary to do business within their region, including abiding by all regulatory and licensing requirements. If you do not have a business license, you are not ready to sell to the government.
Do you have sufficient financial resources and cash flow to handle current obligations as well as those you would encounter under a government contract? Insurance and, where required, surety bonding are essential if planning to do business with government agencies.
2.
Do you have a business plan that includes government contracting?
Small businesses need to properly align their business plan to address the specifics of the government market.
3.
Can you afford to sell to the government?
It can take longer to receive payment for government work — sometimes up to 45 days or longer after the work is completed. Can you cover your overhead until the payment arrives?
4.
Does your company have a history of sales?
If you do not have an established business with a history of sales, you may not be ready to sell to the government. Past performance is one of the main factors agencies analyze when determining who to do business with.
5.
Have you done the necessary market research to determine the government’s demand for your product or service?
If you have met the above criteria, you should do proper market research and analysis to determine if the government buys your product or service, and which agencies purchase the service and/or item routinely.
Consider starting with local agencies and identify subcontracting opportunities that can help you obtain a past performance record with the government. Research which agencies or departments you need to target your sales towards? Norcal APEX Accelerator can help with more in-depth market research once you are ready.
6.
Is your company e-commerce capable? Do you have a website?
Having a website is important and doing business with the government may require e-commerce to win and perform on contracts.
If you have more questions, please contact us at info@norcalptac.org or (707) 267 – 7561
