Why You Should Consider Registering Your Business With The SAM?

If you have a small business in the United States and want to increase the market share of your business then consider registering with SAM. It is a great decision that a business owner can take as a very first step to do business with the government of the United States. Doing business with the U.S. government is a great opportunity to achieve business growth because the federal government of the United States is known as the number 1 consumer in the world.

All federal agencies use the database of SAM to identify businesses that are registered to do business with federal, state, and local governments of the country. Both civilian and military agencies utilize the database of the System for Award Management (SAM) for multiple sourcing and procurement needs. The federal agencies use this database to identify the disadvantaged businesses in the country that falls under a category such as WOSB or VOSB and many more. Due to this reason more and more businesses are looking forward to register for SAM and gain competitive advantages in the federal market of the United States.

The federal government has set goals to assist small and disadvantaged businesses and some contracts are developed that are only meant for businesses that have completed SAM registration.

In this blog, we are going to discuss the subject matter in great detail, so keep reading to know more.

To make your business stand out becoming a government contractor is a great choice

Businesses have become competitive because of high competition in every sector, industry, and market. Working on government projects can increase the scalability of your business which will give support to make a mark in an oversaturated market. Usually small and disadvantaged businesses struggle to achieve these goals. For that reason, the U.S. government has created a great deal that involves awarding set aside contractors to small and disadvantaged businesses in the country. The government also limits the competition for such businesses. That is why SAM registration is considered a great choice for small and disadvantaged businesses.

Basically, government contracting is a way for private companies to sell products and services to government agencies. These agencies put out contracts or Request For Proposals (RFPs). Private companies then place bids to obtain government contracts.

How do you get started with government contracting?

In the very beginning, register for SAM to get your business listed in the database. It is essential because the government does not hire any type of business that has not registered with the SAM directory. It will validate that your business is registered and capable of obtaining government contracts.

Understand the process of SAM registration

The process of SAM registration consists of several steps that should be completed very carefully. Make sure not to miss out on solicitations due to errors or incomplete information in your SAM registration.

Visit the official website of the SAM to register with SAM.

Once you have entered the SAM website it is important to put down all the required information which is mandatory. So, that is why have the following information available.

• Data Universal Numbering System number, also known as the (DUNS) number.
• A Taxpayer Identification Number (TIN), or an Employment Identification Number (EIN).
• A notarized letter that states you are the authorized entity administration.

When the organization of your business registers with SAM, you must designate an E-Business Point of Contact.

After completing the SAM registration, generally, it takes up to two weeks to register with SAM if your organization already has the Employment Identification Number (EIN) otherwise it may take up to five weeks.

The U.S. government is a powerful client for all the federal contractors

The government of the United States is considered a powerful client with deep pockets. It is because the U.S. government spends around $500 billion dollars every year to procure goods and services from federal contractors. This factor makes the U.S. government an attractive client for all the federal contractors in the country. The government tends to buy goods and services in bulk through government contracts. Long-term government contracts help private companies to achieve business growth efficiently.

Registering with the SAM directory also has other advantages that you can get

Registering with SAM not only helps small and disadvantaged businesses to obtain government contracts easily but also provides government grants to such businesses. A government grant is a method through which the federal government funds the ideas and projects of federal contractors. In this way, the government contributes to provide public service and stimulate the U.S. economy. These government grants support;

• Recovery initiatives.
• Innovative research.
• Programs that are listed in the catalog of Federal Domestic Assistance (CDFA).

A grant is different from a loan because the businesses do not have to pay back the money received from the government. So, register with SAM to get funds from the government.

Build relationships with the key government agencies

There is no point if your organization cannot build meaningful relationships with the key government agencies. It is because without connections your business will not able to obtain government contracts and do business proactively in the federal market.

The very first thing that you need to do is to become familiar with the government marketplace. Conduct thorough research on every important aspect and become familiar with the terms that are commonly used in the industry.  Then study all the different sorts of regulations and get certified by the government. Understand the needs and requirements of the government agencies to offer suitable products and services. Create good presentations to win government contracts. Last but not the least, be prepared to give an oral presentation.

Conclusion

So, register with SAM for the SAM directory and give your business an entry into the lucrative marketplace of the federal government. It is also a crucial step that you should take to get rewarded with government grants for reaching the full potential of your business. Register for SAM and obtain government contracts and get funds effortlessly in a lesser time.