The construction industry relies on government contracts as a secure source of revenue, and for many construction firms, public funding finances the bulk of their projects. And it is no wonder, as the U.S. Census Bureau estimated the adjusted annual rate of public construction spending for February 2022 at $350.7 billion, including:
- Educational construction at $80.6 billion
- Highway construction at $104.4 billion
Florida businesses in Boca Raton and across the state know that to win a government contract, they must be positioned to demonstrate the unique qualities and reputation that make their firm the best qualified to win the bid. It is also important to have a sound legal perspective on the process and the compliance or bidding issues that may arise.
Preparing the bid
Getting a government contract in a highly competitive bidding process means being able to effectively respond to requests for proposals (RFPs). Prospective firms will find RFPs on bidding websites at government procurement offices, along with an acquisition plan (AP) that describes the budget and type of work needed.
An important part of responding to a government RFP is meeting hard deadlines, which can be difficult when the agency has a fast turnaround or unfamiliar submission format. The RFP proposal should also match the company’s area of expertise, and a record of similar completed projects will reflect its suitability.
Projecting confidence in your company’s capacity to complete the project includes knowing how government contracting works and having good relationships within the industry. A company should demonstrate:
- A positive reputation within the specific construction sector and a record of successful completion within a timeline and on budget.
- In depth knowledge of agency rules and procedures, and a record of previous contracts and government relationships.
- Financial means to invest in the initial outlay.
Making a successful bid
Besides meeting required deadlines and procedures, the key elements of a successful bid are convincing the agency of your firm’s unique suitability and competence for the project and coming up with a price that is competitive enough without cutting too much into your profit margins.
When preparing the RFP, including visuals and graphs, and tailoring it to match the agency’s expectations, will go a long way, along with being descriptive about the project without giving away too many pricing details.