On November 27th, the General Service Administration announced its intention to modernize federal acquisition and transform the Multiple Awards Schedule (MAS) program as we know it. GSA plans to consolidate the agency’s 24 Schedules into one single Schedule for both products and services and operate under a single solicitation with compressed terms and conditions.
2018 is expected to be a record-breaking year for Mergers and Acquisitions activity. In just the first 3 quarters of the year, $3.3 trillion was spent in M&A deals, with American companies making up 40% of all global M&A activity.
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.
On September 4, 2018, Congress passed a bill titled “Securing the Homeland Security Supply Chain Act of 2018 (H.R. 6430)” following a bipartisan introduction led by Rep. Pete King (R-N.Y.) of the House Homeland Security Subcommittee on Counterterrorism and Intelligence. Some have noted that the bill appears to come in response largely to a growing concern over commercially-successful companies who have been contracted by the U.S. government, particularly in the IT industry, that later demonstrated to pose significant supply chain risks that are a threat to national security. While these reports generally entail foreign-based cyber firms, the bill seeks to address risky vendors both internationally and domestically.
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
The North American Industry Classification System (NAICS) classifies businesses into over 700 different industrial categories or codes. For government contractors, it’s crucial to understand these codes and effectively leverage them to win government business. What are NAICS codes? Developed by the Office of Management and Budget (OMB), NAICS is a classification system used by government agencies to collect, analyze and publish statistical data on the United States business economy. OMB developed this system with statistical agencies in the United States, Canada and Mexico to create common industry standards for statistical data presentation and analysis. The federal procurement sector uses the code to classify industries.