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How To Sell To The Feds
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Article 1: Pros & Cons of Federal Contracts
Federal government contracts offer lots of business benefits. But there are potential pitfalls too.
Benefits include special socio-economic preferences that are granted to new and small business contractors, preferences that don’t exist in the private sector. And there’s the reassurance that the government won’t renege on what you’re owed.
On the flip side, there are potential problems that don’t exist in the private sector: mounds of red tape; the government’s right to terminate your contract at its convenience; the possibility of facing criminal charges from business disputes.
Still, what an opportunity. If you can tolerate and learn the ropes of the federal bureaucracy, you can prosper.
Keep in mind however, that the government always wants to pay as little as it can, so your profit margins can be thin. On the other hand, the government never goes into recession. Government business is not only recession proof, but it’s also invulnerable to the regular ups and downs of the business cycle.
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