Essay Sample on Elements of Government Contracting and Business Practices

Introduction

According to (Temponi, 2018), Government contracting often involves some steps that will guide the business to be able to provide goods and services to state agencies.

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The business needs to get in touch with the state agency responsible for facilitating the filling and signing of documents. They should engage the services of a "legal advisor." There is a need to highlight the type of business you re currently doing either it is a sole proprietorship, partnership or a company (Berrios, 2016). You are filling an "occupational license dependent on the type of product or service the company is offering and contacting your trusted insurance broker for assistance on professional liability policies.

Doing a business analysis and developing a business plan. There is a need to analyze the financial aspect, marketing strategy, and product development among other key features required in a business plan.

Coming up with the business plan after analyzing key components you will be required to include (Berrios, 2016). One can also incorporate the qualifications of the managers, financial statement of the company for the last three years and marketing and feasibility studies. This is the most critical part when starting a government contracting business. This will help the business access funds through loans to expand their services and carry out contracting business.

One can register for government contracting business through "IRS.gov," and they will need to provide their employer ID and they will pay an r fee of $229 for their documents to be reviewed and retrieval of tax ID, as soon as submitting the information.

Go to the "Central Contractor Registration" to register your business to be getting tenders from the government. You will be required to have your "DUNS" and "EIN" or "TIN" figures, during the registration process (Berrios, 2016). Upon completion of the registration process, the profile of the business will be available for selection by the tendering officers. Those people who are interested in registering their business for tenders are known as tender-printers.

Develop relationships with state contractors especially those who are referred to as "prime contractors" they will help small and medium enterprises to get access to new government tenders (Berrios, 2016). Their details will be retrieved from the CCR database. It is essential you attend the forums arranged by the government agencies, as each federal state has an office which is geared towards assisting newly formed business in getting access to government contracts.

The difficulties that persons who have just registered a business in order to get government contracts or tenders include lengthy process which takes a lot of time whereby the individual is required to provide so many details including the business plan, Tax compliance and registration certificates for the business, financial statements of the company so that the contracting agency is sure that the individual will fulfill his part of the obligation once awarded a contract (Murray, 2010).The selection and approval coupled with the uncertainties on whether your company will be selected time. The cost also is another factor that makes it difficult to get access of the government tenders as the formed business will be required to avail all the necessary documents which are costly to obtain bearing in mind you had paid for the registration of the company (Murray, 2010). Finally, the selection criteria may be biased and may also be based on corruption hence affecting the individuals who fall into this trap and end not getting the government contracts even after spending a lot on providing the documents.

References

Temponi, C., & Cui, W. (2018). Factors impacting the participation of Hispanic small businesses in government contracting in the USA. Journal of Small Business and Enterprise Development, 15(3), 504-526.

Berrios, R. (2016). Government contracts and contractor behavior. Journal of Business Ethics, 63(2), 119-130.

Murray, M., & Appiah-Baiden, J. (2010). Difficulties facing contractors from developing countries: Problems and solutions. Engineering News-Record, 37, 22.