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Sun. Sep 17th, 2023

When trying to find expertise grants one ought to take a look at the professionals and cons of focusing on federal authorities for funding of expertise grants for non-profit enterprise. When looking for funding for packages I feel that there are three benefits of focusing on the federal authorities 1. The cash is for certain, 2. There may be quick access to info, and three. The bigger orders, thus extra revenue. Whereas, three disadvantages can be: in depth bid proposal, appreciable quantities of paper work all through sustaining the contract, and the competitors is nice.

The primary benefit that I listed is that the cash is for certain. If my firm had been to get a contract for enterprise from the federal government they might make sure to be paid. It could reduce out the late cost or the collections course of that we at present have coping with smaller entities or people. The second benefit to focus on the federal authorities is that the federal government might present simpler accessibility for info for its contractors via up- to- date web websites, which you do not at all times have entry to with smaller suppliers. Lastly, the third benefit I see is that bigger orders equal’s bigger revenue. Securing a authorities contract would most certainly be a considerable order and revenue for our firm which might be value any hurdles we might have to leap via in the long term.

The primary drawback I see to focusing on the federal authorities is that there’s most certainly an intensive bid proposal course of. Now we have submitted bids for native suppliers that don’t even examine to the attainable a number of hundred pages {that a} authorities proposal would possibly include. This could imply many bodily hours invested in making ready the bid for proposal. Secondly, I feel {that a} main drawback for my firm if we had been to safe a authorities bid is that there can be appreciable quantities of paperwork concerned with a purpose to preserve the contract. The federal government is beneath the general public eye and thus set-forth strict rules that the suppliers should comply with, which incorporates a lot paperwork! This could once more, contain many hours to maintain up with this obligation. The third drawback I consider is that the competitors can be great. Despite the fact that governments are requested to favor smaller companies, I feel the competitors amongst these smaller companies can be very nice. I really feel that my firm can be at a drawback in comparison with different rivals merely based mostly on the truth that first, we aren’t a depressed enterprise and second that we aren’t a minority owned enterprise.

Having stated all this, I’d advise my firm management to “go for it”! I feel they need to pursue a authorities contract and I justify this by saying I feel the benefits outweigh the disadvantages in our scenario. I feel the potential revenue alone would justify my suggestion. Nonetheless, earlier than making that closing choice to pursue, I’d additionally advocate to my firm that they evaluation our present price range and ensure that the price of the additional hours concerned in making ready the bid proposal can be reasonably priced even when the contract was not awarded. Then, after all, if the contract is awarded the price of sustaining the paperwork must be thought-about as nicely.

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