Professionals and Cons of Concentrating on Federal Authorities For Funding of Know-how Grants Non Revenue
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When trying to find expertise grants one ought to take a look at the professionals and cons of focusing on federal authorities for funding of expertise grants for non-profit enterprise. When looking for funding for applications I believe that there are three benefits of focusing on the federal authorities 1. The cash is for certain, 2. There may be easy accessibility to info, and three. The bigger orders, thus extra revenue. Whereas, three disadvantages could be: intensive bid proposal, appreciable quantities of paper work all through sustaining the contract, and the competitors is nice.
The primary benefit that I listed is that the cash is for certain. If my firm had been to get a contract for enterprise from the federal government they might make sure to be paid. It will lower out the late fee or the collections course of that we presently have coping with smaller entities or people. The second benefit to focus on the federal authorities is that the federal government could present simpler accessibility for info for its contractors by way of up- to- date web websites, which you do not all the time have entry to with smaller suppliers. Lastly, the third benefit I see is that bigger orders equal’s bigger revenue. Securing a authorities contract would most certainly be a considerable order and revenue for our firm which might be value any hurdles we could have to leap by way of in the long term.
The primary drawback I see to focusing on the federal authorities is that there’s most certainly an intensive bid proposal course of. We now have submitted bids for native suppliers that don’t even examine to the potential a number of hundred pages {that a} authorities proposal would possibly comprise. This is able to imply many bodily hours invested in getting ready the bid for proposal. Secondly, I believe {that a} main drawback for my firm if we had been to safe a authorities bid is that there could be appreciable quantities of paperwork concerned in an effort to keep the contract. The federal government is below the general public eye and thus set-forth strict laws that the suppliers should observe, which incorporates a lot paperwork! This is able to once more, contain many hours to maintain up with this obligation. The third drawback I imagine is that the competitors could be super. Though governments are requested to favor smaller companies, I believe the competitors amongst these smaller companies could be very nice. I really feel that my firm could be at a drawback in comparison with different rivals merely based mostly on the truth that first, we aren’t a depressed enterprise and second that we aren’t a minority owned enterprise.
Having mentioned all this, I might advise my firm management to “go for it”! I believe they need to pursue a authorities contract and I justify this by saying I believe the benefits outweigh the disadvantages in our state of affairs. I believe the potential revenue alone would justify my suggestion. Nevertheless, earlier than making that closing choice to pursue, I might additionally advocate to my firm that they assessment our present price range and ensure that the price of the additional hours concerned in getting ready the bid proposal could be inexpensive even when the contract was not awarded. Then, after all, if the contract is awarded the price of sustaining the paperwork must be thought-about as properly.
