Government contract work can provide a significant revenue stream. But it’s not necessarily the right direction for every business, so it’s important to determine whether it’s best for you. Here are some basic questions to guide your decision-making:

• Can you spend the time required to find agencies and buyers, and to prepare and present bids?
• Are you willing to do ongoing, detailed research to find bidding opportunities?
• Are you prepared to be a subcontractor to the big companies that are prime contractors?
• Can your business financially support the execution of a government contract which involves delayed payments?

Where to find more information on the basics of business and working with the federal government

The following Web sites provide valuable sources of information when you are in the initial stages of deciding whether you should do business with the federal government:

Small Business Administration -- Starting a Business is where you’ll find dozens of articles on general business topics ranging from finding a niche for your business, to business plan basics, finance, marketing, employment, taxes, and legal concerns.

Business.gov is the official business link to the U.S. government. It guides you through the maze of government rules and regulations and provides access to services and resources to help you start, grow, and succeed in business. A broad variety of topics are addressed to help you launch, manage, grow, and finally get out of your business. Topics range from business law to government contracting, international trade, work environments, and more.

GovWorks® is a Federal service-for-fee acquisition center that helps Federal agencies acquire products and services for their programs. GovWorks also serves as a resource for small businesses.  

Government Contracting and Business Development helps small, disadvantaged, and women-owned businesses build their potential to compete more successfully in the global economy by providing information and procurement assistance.

My Biz for Women provides information about business basics, events, success stories, and links to other resources.

Offices of Small and Disadvantaged Business Utilization provides information on upcoming conferences and events related to procurement and business.

IRS covers a variety of tax and finance-related topics, including the basics on self-employment, business expenses, employers’ responsibilities, small business forms and publications, and more.

Be sure to check Best Practices for Women-Owned Small Businesses, gathered by the SBA’s Office of Federal Contract Assistance for Women Business Owners (CAWBO) to help businesses who want more participation in federal procurement.