4 Strategies To Win Government Tenders
Governments continue to support the growth of small businesses through every means possible. One of the ways that SMEs can enjoy this support is by applying for tenders. The amount of money channelled to these projects from national governments has increased significantly over the years.
In the past, it was very difficult for small businesses to apply and qualify for tenders. But that has since changed given the fact that some things have been scrapped off the requirements list. The current simplified application process and the idea of splitting large contracts into smaller tasks has increased the chances of SMEs winning tenders.
But even with all these positive trends, you still need to put in some work before you can actually win a government contract. So, what are some of the strategies that can enhance your success? Read on to learn more.
1. Embrace the power of technology
Everything today is tech-reliant, and tender application process isn’t an exception. There are many opportunities coming up every day, so the more you apply, the higher your chances of landing a contract. But unfortunately, there’s no guarantee that you’ll win a tender by simply applying for everything.
You’ll need to assess your winning probability before sending in your application. The best way to do this is by investing in tender management software. This program will help you analyse all your tender opportunities and their winning probability. Once you have that information, you can then apply for those that promise better results.
Tender management software will also help you monitor the status of your bids. This way, you’ll know which of your applications are still running and are likely to bring a positive outcome. If you’re still managing your bids manually, then you’re missing a lot in the market.
2. Prioritise specialist or local tenders
Are you running a specialised business? What this means is that your limited company is consider a go-to contractor in a given industry because it employs specialised technicians and agents in that area. If that’s the case, then you stand a high chance of winning a tender within your area of speciality. For instance, if you’re running roofing service business, then it’s recommended that you prioritize contracts within this area rather than those focused on the construction industry in general.
You can increase your chances even further by applying for government tenders within your locality. The assessors of tender applications sometimes prioritize bids submitted by contractors located near the project site. Among the reasons they do this is to reduce the costs which could otherwise increase due to transportation and whatnots.
3. Always be prepared
One of the main reasons many small business owners don’t win many tenders is because they lack proper preparation. You need to know what’s required of you in every tender and make sure you have them ready. As such, when an opportunity arises, you’ll have fewer things to worry about before submitting your applications.
Have all the necessary documentations like ISO: an up-to-date business permit, 14001 (environmental), and ISO: 9001 (quality). While at it, also ensure that your track record as an employer and business owner speaks for itself. Factors like health, safety and equal opportunities can give you the upper hand.
4. Apply early
Sometimes, the time of your application matters when it comes to contract opportunities. Many tenders use the “first come first serve” technique to approve contractors.
So, to improve your chances of winning these government contracts, it’s imperative that you apply for them as early as possible. Check for relevant posts everyday so that you can send your application as soon as the opportunity arises. If you write your bid and submit during the final days, you might not stand a chance regardless of your reputation in the industry.
Government tenders offer a great chance for both small and established businesses to grow. If you’re a contractor and looking to win these contracts, then you should be ready to adopt the winning strategies discussed in this article. First, make sure you’re always prepared and have all the necessary documents in place. This way, you can submit your applications without a lot of hassle.
Another thing to consider is early application. The earlier you submit your bids, the higher your chances of winning the tenders. But don’t apply for every tender you come across. Make sure the contract details are in line with your skills and meet your needs as a contractor. It’s recommended that you apply for tenders within your area of specialisation and prioritise those within your locality. Doing so increases you chances of winning.
“How To Automate The Bid Management Process With Artificial Intelligence.”, Source: https://www.forbes.com/sites/forbestechcouncil/2021/12/27/how-to-automate-the-bid-management-process-with-artificial-intelligence/
“5 Essential Sections Of A Tender Document.”, Source: https://email@example.com/5-essential-sections-of-a-tender-document-37d8ae98e4b5
“The Documentation For Construction Projects.”, Source: https://www.designingbuildings.co.uk/wiki/Tender_documentation_for_construction_projects