Do you have a new business?
Are you looking for credibility?
Do you want to be recognized as a reliable business?
Your answer lies in the GSA contract.
What is a GSA contract?
The General Services Administration contract, also known as a Federal Supply Schedule, is a five year unfunded contract which is based on a company’s commercial nature, allowing for indefinite delivery and quantity under the MAS Program. This contract can also be extended for as long as 20 years.
In other words, a GSA contract is a symbol of quality and good standing, and also vouches for your company’s efficient processes, law abiding nature and fair pricing.
Who’s Eligible to Procure a GSA Contract?
The eligibility criterion to obtain a GSA contract varies from schedule to schedule. However, the following are standard criteria that should be met before a GSA contract can be considered:
- Financial stability
- A minimum of two years in business
- Stable past performance
- Commercial availability of products and services
- Products are compliant with the Trade Agreements Act
- Products to be manufactured or substantially altered within the USA or in one of the designated countries defined by the Trade Agreement Act
What a GSA Contract Can Look Like
Blanket Purchase Agreement (BPAs): This contract occurs between agencies and contractors to meet recurring product and service needs and reduce the administrative costs by eliminative order procedures for repeat orders.
Contractor Team Arrangements (CTAs): This contract occurs between two or more enterprises who are GSA contract holders in order to work together to provide solutions to an agency’s need.
GSA Advantage: This is an online shopping forum for federal government agencies to view enterprises holding GSA contracts and compare, view and directly purchase products and services from there.
How Can I Register?
The step to procuring a GSA contract is fairly simple. To register:
- Obtain your Dun & Bradstreet Number (DUNS).
- Find your organization’s North American Industry Clarification System code (NAICSS).
- Determine the size of your business.
- Register to the System for Award Management database by filling your small-business profile and writing a capability statement.
- Solicit evaluations for your business’ past performance.
Where Can I Find a Contract?
You can find federal contracts like the GSA contract on various platforms like:
- The federal Business Operations Website
- Marketing directly to federal agencies
- Working with a bid-matching service
The best part is that any firm or business can register for a GSA schedule at any time, as long as they have a comprehensive list of details that fulfill the criteria checklist. And the process of pitching a bid to secure a contract is not a troublesome one, either!
Why Does My Company Need a GSA Contract?
Working with the federal government means having the largest B2B customer in the world, which relies heavily on more than 10,000 suppliers. What does this mean for your company? More sales revenue, of course! In fact, having a large client is not the only advantage of having a GSA contract.
The GSA Association
Procuring a GSA contract for your company means that your business has the seal of approval of doing business with the federal government. It also means that your company will be viewed on a higher tier than your competitors’ due to the fair pricing and that your processes and trade activities are legally approved. In other words, potential clients will prefer your service over other options.
The Monetary Benefits
More than $40 billion run through the GSA Schedules each year, making it a very profitable enterprise to be a part of. This means more revenue and an enhanced portfolio for prospective clients.
Adding more clients to your repertoire becomes a seamless process. As a GSA contract holder, your portfolio will be available to a large pool of customers, even those who are outside of the GSA. The rapport you’ll have as a GSA contract holder will work to your advantage by drawing customers.
A Competitive Edge
If your company has a GSA contract, chances are that you have a large presence in the non-GSA markets. Your portfolio will stand apart from your competitors by featuring the federal government as one of your clients, which is a testimony to your company’s performance and delivery of service.
Ease of Use
Being able to connect with potential customers has never been easy. Once your GSA schedule comes through and you have access to one of the largest platforms, you’ll be privy to competitive pricing and a plethora of potential customers. In fact, there’s no need to negotiate on pricing because you’re GSA approved!
Small Businesses are in Luck
If you’re a small business, you’re in luck because the government gladly gives them GSA contracts. Out of the $500 billion spent on federal contracts yearly, an allocated 23% of the amount goes to funding small businesses!
Opportunity to Diversify
A GSA contract is a great way to diversify into various sectors of the market. The amount of federal experience you have does not matter – you have the opportunity to provide services which you excel at due to your non-federal working record.
A Word of Caution
Procuring a GSA contract is the highlight of any career, especially because of the prestige and monetary advantage attached to the schedule. However, companies must be aware that “on contract”, “non contract” and “open market” products may differ, and any non schedule item must be identified to the federal agencies.
Getting a GSA Contract
If you’re all about business growth and increasing revenue, the time has come to push your boundaries and register for a GSA contract! With your company registered on one of the biggest and most reliable business platforms, the future looks bright!