Tag: Finding contracts

The First Steps in Winning Your First Contract as a Service-Disabled Veteran-Owned Small Business (SDVOSB)!

Posted on by Eric Coffie

Ever wondered how to get started? Here are the first steps in winning your first contract as a service-disabled veteran-owned small business!

FORM YOUR COMPANY

The first thing to start any business is the creation of a company. We don’t teach that here, but this is a necessary step if you want to do business with the government.

With this, if you need help with the creation of your corporation, you can send us an email at info@govcongiants.com and someone will be glad to help walk you through the process of creating a corporation in your state.

However, if you still need more reasons to incorporate your business, you can watch this video entitled, “Six (6) Reasons to Form your Corporation.”

GET REGISTERED

1. Get and register a DUNS Number. 

A Data Universal Numbering System (DUNS) is a nine-digit identification number assigned to identify your business and to track your company’s credit record.

While the SAM database is extending the transition from using the DUNS number to the New Unique Entity Identifier (UEI) in April 2022, you still need to get your DUNS number before registering to the database. 

To obtain a DUNS number, you can either request via this toll-free telephone number, 1-(866) 705-5711, or through this website. 

Note: Getting your DUNS number is absolutely FREE and you don’t have to pay someone to get this done. Also, if your business is in various locations, then you need to get a different DUNS number for EACH business location.

If you want to know more about how to do this, then check this video on how to apply for a DUNS number. 

2. Register in SAM.

The System for Award Management (SAM) is the primary platform used by the government to check businesses dealing with each agency in the federal contracting arena. 

In registering, you primarily need to create an account on the database in order to register or update an entity. Then, afterwards, you can already fill out all the necessary information. 

Depending on the complexity of your business, your registration might take about an hour. It can also take an average of 7-10 business days to process your data because the IRS still needs to validate your  EIN/TIN information.

Other than that, you should update your SAM profile on an annual basis or when a certain change in your business information is made. The updating or renewal process might take for approximately an hour before it becomes active on your SAM profile. 

Note: There are many tutorials on the SAM web page regarding specific questions on how to register. If you want help from a real person, go to this site where you can request a live chat or just call 866-606-8220 from 8am–8pm for FREE.

GET CERTIFIED AS AN SDVOSB

To get certified as a  Service-Disabled Veteran-Owned Small Business, you can visit the verification page of the US Veteran Affairs’ website or you may go directly to the Vendor Information Pages.

Prior to acceptance as an SDVOSB, you will need to create a user account, register online, and submit the necessary document for verification.

Since an LLC is the most common structure type for forming a business, this article is based on the LLC submission requirements. Other business structures will require more or less items, however the information is all listed under required documents for VIP Application.

With this, below are the list of pre-application documents needed to begin processing your application as an LLC:

  • Resume of all owners, directors, partners, officers, and other key personnel
  • Operating Agreement including all amendments
  • Certificate of Formation letter from the Secretary of State
  • Joint Venture Agreement (if applicable)

Note: These are the requirements at the time of writing this article in 2016. 

After you have submitted all the required information for certification, the Center for Verification and Evaluation (CVE) will review your documents and determine if any clarification is needed.

Assuming that you answer all the information in a timely manner, CVE will determine if your business meets eligibility criteria for becoming a Service-Disabled Veteran-Owned Business (SDVOSB).

FEW THINGS TO CONSIDER

This blog post only takes you through the first 2 steps of being a Service-Disabled Veteran-Owned Small Business (SDVOSB) which are getting registered and becoming certified.

If you want to see how we got someone registered as an SDVOSB, then check this video about SDVOSB Vetbiz registration instructions for veterans.

After these first two steps, the other things that you need to consider in winning your first contracts is building your business. These include learning about your customers and your market and building relationships with them. 

If you want to learn about these, then take advantage of our resources down below. You can also join us here at GovCon Giants by visiting our website and other social media platforms or checking the new GovCon Edu where you learn everything about government contracting!

SDVOSB Vetbiz registration instructions for veterans – Eric Coffie

https://www.youtube.com/watch?v=3Ot621Dvitg&t=333s

Eric Coffie interviews $50M SDVOSB, HUBZone, 8a Construction Firm

https://www.youtube.com/watch?v=bnvn4k-L3xY&t=430s

031: Raffa Gibbard & Renona Riddle Brown: Women Entrepreneurs Discuss VA Veteran Employment Track

https://www.youtube.com/watch?v=N9j4o61MddI&t=87s

Veterans HELPING Veterans with “Doc” Wright

https://www.youtube.com/watch?v=zOB2Ig3zdjg&t=248s

Government Programs to Help Small Businesses Export Products and Services to Foreign Markets!

Posted on by Eric Coffie

Export excellence with these government programs to help small businesses export products and services to foreign markets!

EXPORTING FOR SMALL BUSINESSES

American-made products are respected and coveted around the world and exporting goods and services to other countries is good for the United States economy and to all small businesses. 

However, while large businesses often have the experienced staff to successfully export their products or services, small businesses need extra guidance and support in order to understand the complexities of exporting successfully.

This is why it’s no surprise that governments at all levels pitch in to help small businesses in the US.

In fact, the departments within the federal government, especially the  Department of Commerce and the Small Business Administration (SBA), participate in enabling small businesses to bring products and services to foreign markets.

With this, the best place to start is at the International Trade Administration’s Export Solutions, a portal that pulls together the resources from 19 federal agencies that help businesses with exporting.

EXPORT EXCELLENCE!

1. Learn how to export.

If you want to compete on the world stage, you will need to learn the ins and outs of successful exporting.

You can do this through the SBA’s growing library of videos, podcasts, online courses, and other resources. Learn how to do your international market research now!

2. Understand the complex world of exporting.

Every country has their own licensing and standards requirements. Finding the right licenses and adhering to the right standards will ensure a successful exporting business. 

With this, the International Trade Administration’s Export Solutions provides a convenient landing page that outlines licenses, standards, sanctions, and training that exporters need to navigate through the international market.

3. Understand the market.

The United States Department of Commerce has an International Trade Administration that performs market research.

They provide over 100,000 industry and country-specific market research reports for US-based companies registered on their Export Solutions portal.

4. Find and connect with partners and buyers.

Through a variety of programs offered by the US Department of Commerce, small businesses can find potential customers through a Trade Leads program, receive trade fair certification to appear in foreign trade shows, search for partners, and meet foreign buyers in US trade shows.

5. Manage your financials.

It costs money to initiate an exporting business. With this, the SBA offers 3 loan guarantee programs:

  • The Export Express Program streamlines the lending process and backs up to 90% of a loan from a lender so small businesses can borrow up to $250,000 to fund a variety of exporting initiatives.
  • The Export Working Capital Program guarantees lenders up to $1.5 million of a $2 million loan so exporters have a working capital to fund the various costs required in exporting.
  • The Trade Loan program guarantees lenders up to $1.5 million of a $2 million loan so exporters can start exporting or become more competitive if they have been adversely affected by imports.

Get more information about these finance programs (including the temporary 2009 Recovery Act fee waiver) at the SBA’s website.

Apart from that, you can also check these organizations for financial solutions:

With all of these, there are also other insurance products that include multi-buyer policies, short-term policies, and political risk policies, depending on the destination and type of exporting transaction. If you want to learn more about this, visit this link.

THINGS TO CONSIDER

Note: The resources listed above are for federal government exporting use only.

Most states provide their own additional resources to help companies within their state export to the international stage. Be sure to Google the name of your state plus “export assistance” or visit your state’s government website for export guidance.With this in mind, if you want to learn more about doing business with the US government around the globe, then join us here at GovCon Giants. Just visit our website and other social media platforms or check the new GovCon Edu where you learn everything about government contracting!