During these changing times, we offer these thought leadership tactics to address the current state of federal contracting and how we can help companies through this shifting landscape. Three critical points stand out, each highlighting the importance of adaptability and strategic positioning in this dynamic marketplace.
1. Spending will happen. Prepare for Quarter 4 now
We are still currently under a continuing resolution and that has led to cautious spending among agency decision-makers. However, this temporary slowdown will set the stage for significant spending in the fourth July-September quarter. The most successful contractors are using this time right now from February-June to use the government’s own A.I. tools to position and build crucial relationships for success when spending speeds up. In the budget set to be passed, we anticipate slight increases in defense spending (about 3%) and potential cuts in civilian agencies set to align with the administration’s policy objectives.
2. Back to the office, that includes contractors
The federal workforce’s return to office is reshaping contractor expectations. Geographical proximity to government offices is becoming a differentiator, as is strict compliance with evolving rules and regulations. Staying informed and adaptable in this changing environment can give your company a competitive edge over the companies who are slow to move with the changing times.
3. Socioeconomic programs are here to stay
Socioeconomic program like the 8(a) program, the women-owned small business program, service-disable owned small business program, and HUBZone program remain as cornerstones of federal contracting, and their statutory authority ensures their existence without an act from Congress. The 8(a) program is not a “DEI” program. Companies with leaders of all races and backgrounds can apply to be a part of this longstanding pillar of the federal contracting space. While the small, disadvantaged spending goal has been reduced to the statutory 5% from the previous 15% set by the Biden Administration, as discussed at the National 8(a) Conference, the Small Business Administration supports 8(a) participants who have demonstrated the value they bring to the federal industrial base. This commitment underscores the importance of leveraging your company’s 8(a) and any other socioeconomic status that you have to compete for and win federal contracts.
There was so much to absorb during the in-person National 8(a) conference, but my main takeaway was that success in federal contracting requires more than just industry knowledge – it demands agility, focus, flexibility, and expert guidance. At TargetGov, we understand the complexities of this ever-changing landscape. Our team of industry experts and thought leaders is ready to help your company navigate these challenges and seize opportunities for growth in the federal marketplace.
Whether you’re looking to leverage your large business or socioeconomic status, build strategic relationships, or ensure compliance with the latest regulations, TargetGov has the expertise to guide you. Don’t let the shifting tides of federal contracting leave you behind. Partner with TargetGov and position your company for success in this dynamic marketplace.
Contact us today to learn more about how we can support your business success in the federal marketplace. Reach out to TargetGov experts. We have helped our clients win over $20 Billion in federal contracts. Email fast@targetgov.com, call 410-579-01346 x 325, or visit www.targetgov.com.