The U.S. government shutdown this past October has been one of the most damaging elements in the growth of business for GSA Contractors. The shutdown has taken a toll of $24 billion out of the economy and also reduced a projected fourth-quarter GDP from 3 percent to 2.4 percent.
Other rippling effects from the government shutdown are visible through the lack of maintenance and updates on websites, the suspension of government-backed Small Business Administration (SBA) loans, and businesses seeing fewer customers due to the overall fear generated from the shutdown. Along with that, a survey by the National Association of Government Contractors found that 29% of the 925 contractors polled said a shutdown would delay planned hiring, and 58% percent said it would have a negative impact on their business.
Businesses also suffered from the lack of federal workers supervising them through projects and making important decisions for the guidance of their projects. Another government contracting firm has reported that 107 members of its 115 person staff were deemed non-essential and were not able to assist government contractors during the shutdown.
As the next scheduled fiscal crisis by Congress approaches in February, many GSA contractors are still recovering from the effects of the last shutdown and are unsure of how to rebound from the last crisis and continue to grow in FY2014. In response, a complimentary webinar is being presented on November 12, 2013 that will address these issues and provide solutions for GSA contractors that need guidance through this difficult time.
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