Execs and Cons of Targeting Federal Government For Funding of Technology Grants Non Profit

When searching for technology grants one ought to examine the pros and cons of targeting federal government for funding of technology grants for non-profit business. When seeking funding for programs I assume that there are three blessings of targeting the national 1. The money is definite, 2. There is straightforward access to data, and 3. The larger orders, thus a lot of profit. Whereas, three disadvantages would be: extensive bid proposal, considerable amounts of paper work throughout maintaining the contract, and the competition is great.

The first advantage that I listed is that the cash is certain. If my company were to urge a contract for business from the govt they would be bound to be paid. It would cut out the late payment or the collections method that we currently have managing smaller entities or individuals. The second advantage to target the centralized is that the government may offer easier accessibility for data for its contractors through up- to- date web sites, that you don't always have access to with smaller suppliers. Finally, the third advantage I see is that larger orders equal's larger profit. Securing a government contract would presumably be a considerable order and profit for our company which would be price any hurdles we tend to might have to leap through within the long run.

The primary disadvantage I see to targeting the federal is that there's presumably an intensive bid proposal process. We have submitted bids for native suppliers that don't even compare to the doable several hundred pages that a government proposal might contain. This could mean many physical hours invested in preparing the bid for proposal. Secondly, I suppose that a major disadvantage for my company if we have a tendency to were to secure a government bid is that there would be considerable amounts of paperwork concerned in order to keep up the contract. The govt. is beneath the public eye and thus set-forth strict regulations that the suppliers must follow, which includes a lot of paperwork! This may once more, involve many hours to keep up with this obligation. The third disadvantage I believe is that the competition would be tremendous. Even though governments are asked to favor smaller businesses, I suppose the competition among those smaller businesses would be terribly great. I feel that my company would be at a drawback compared to different competitors simply based on the fact that 1st, we tend to are not a depressed business and second that we don't seem to be a minority owned business.

Having said all this, I might advise my company leadership to "opt for it"! I assume they should pursue a government contract and I justify this by saying I think the advantages outweigh the disadvantages in our situation. I suppose the potential profit alone would justify my recommendation. But, before making that final decision to pursue, I'd additionally advocate to my company that they review our current budget and create sure that the price of the extra hours concerned in getting ready the bid proposal would be affordable even if the contract wasn't awarded. Then, in fact, if the contract is awarded the price of maintaining the paperwork wants to be thought of as well.