The government fiscal new year began on October 1st and with it come opportunities to set your company’s government acquisition resolutions. Forethought is crucial in acquiring government contracts and we’ve outlined a few resolution ideas that can increase your company’s chances of winning government opportunities.
Resolution 1: Understanding Agency Goals and Programs Based on Budget Forecasts
The U.S. Federal Government FY23 budget forecasts are released annually for public review and include each agency’s funding focus. Resolving to analyze these budget forecasts and official budgets will give businesses an understanding of how they do or don’t fit with the government’s strategic funding areas and will allow you to narrow your agency focus. The 2023 federal budget can be found here and individual agency budgets can be found on their respective websites.
One agency, the Navy, intends to use a considerable amount of its budget to further construction on ships, aircraft carriers, and submarines. This leaves little funding available for services outside this industry and should be considered when determining target agencies.
Resolution 2: Narrow Your Targets
Identifying your business’ core competencies and applying them to potential funding opportunities is critical in the acquisition of contracts. Casting a wide net can be enticing, especially considering the breadth of contracting opportunities released every day by Federal, State, and Local governments. However, focusing on a specific capability and responding to posted solicitations with clarity and tact will radically increase the likelihood of winning.
Resolution 3: Comply with CMMC 2.0
Defense spending is the largest source of discretionary spending the United States government has to offer. As the roll out of the Cyber Security Maturity Model 2.0 continues, compliance within CMMC 2.0 becomes increasingly important. Contractors will have to comply with CMMC 2.0 in order to do business with the Federal government in the near future.
How JetCo Can Help
The JetCo Solutions team is prepared to assist your business with the development of a plan to target government funding opportunities—at any level of government—and assist in assuring your business properly complies with the government's new and existing regulations.