In the world of government contracting, one of the most confusing elements to navigate is the incessant use of acronyms. In an effort to help you out, this blog post is dedicated to listing and defining some of the most frequently used acronyms so that you can either learn something new or refresh your memory on some old acronyms.
This month we focused on North American Industry Classification System (NAICS) codes, covering what a NAICS code is, how to use codes to determine if your organization qualifies as a small business, top spending trends and much more. Now that you know about NAICS codes, start using them now to find opportunities! Each year, the government spends millions on a vast array of goods and services, buying everything from office supplies and airplanes to fitness equipment. Given the volume of procurement activities, where do you start? You can narrow down opportunities using these codes in the right way. Your NAICS codes help focus your opportunity searches, so you can zero in on the right opportunities for YOUR business.
Do you know what the real benefits of being on the GSA Schedule are? Learn the top 10 reasons (and advantages) why you should consider it.
So many acronyms, so little time! Early in my government contracting career, I had to learn a new language as new acronyms filled every page I read! To help you better understand the federal government’s world, here are the top 10 need-to-know abbreviations this year: 1. NAICS Code- North American Industry Classification System code. Your NAICS codes help determine if you qualify as a small business. Through the Small Business Act, the Small Business Administration (SBA) established size standards for NAICS codes so businesses can understand their designation and see relevant opportunities for which they qualify. Learn more about NAICS codes and see if you qualify as a small business here.
In an effort to create a new online portal to procure commercial goods, the General Services Administration (GSA) and the Office of Management and Budget (OMB), issued a notice announcing their interest in opening public dialogue. In the notice, GSA and OMB sent a request for information from industry stakeholders about Section 846 of the National Defense Authorization Act (NDAA) for fiscal year 2018. Section 846, dubbed the “Amazon Amendment”, would give government agencies the opportunity to procure commercial off-the-shelf products through online commercial portals such as Amazon, Overstock and Staples. The undertaking would provide agencies with a new alternative to GSA’s decades-old procurement vehicles such as GSA Advantage!, GSA eBuy, GSA Global Supply, and the Federal Supply Schedule.
As part of our focus on NAICS codes this month, our team did a deep dive into the NAICS codes associated with the largest federal IT spending. Given that IT modernization is still a big priority, it’s important to look at those spending trends. Specifically, we’ve reviewed the top five IT NAICS codes from fiscal years 2016 and 17. Why review these codes? One factor driving your sales and marketing success is the ability to find great opportunities for your organization. Knowing what your NAICS Codes are, and how well they do within the government space is the first step. For example, is your main NAICS code rarely associated with government opportunities? Or are there countless opportunities for that code? If it is not associated with good opportunities, you may need to consider other relevant NAICS codes, and start looking for opportunities with those codes instead. The IT industry is a good place to start given the high spending levels in that category.
Having a small business designation can fuel marketing and sales efforts for new federal business opportunities. Every year, the Small Business Administration (SBA) aims for certain percentage goals of budget spending that are designated for small business contracts. So, it’s critical to know if your company is eligible for small business set-aside contracts, but how to be sure? The answer is lies in the North American Industry Classification System (NAICS). Your company’s NAICS codes help determine if you qualify as a small business based on certain size standards. Through the Small Business Act, the SBA established size standards for NAICS codes to help businesses get their designation, and see relevant opportunities for which they qualify. Find out if you are a small business