Currently over 5 million contractors have obtained government contracts ending Fiscal Year 2011. A government contract is not made for every company but if you build a realistic view of managing your contract there may be a great benefit. Here are five benefits of having a government contract:
- Stability– Maintaining compliance with the terms and conditions of the contract could provide your business stability for up to twenty years.
- Consistent Work– Focusing on the marketing aspect of your business could provide consistent workable assignments assisting you with business growth.
- Assured Payment– Although payment may take up to 30 days it is still assured.
- Business Strategy- Having a government contract helps you to build and modify your business strategy for the federal and commercial sector.
- Relationship Building- Developing relationships with the right people could assist in building the foundation for your business.
Do you have any other benefits of having a contract? Let’s hear them.
For government contract consult contact Procurement Source Solutions 800-267-7640
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Government contracts indicate simply the goods or services that the government needs along with the particular terms of payment.For that reason a contract is totally different from a grant, which is an outright award of money that the government makes to a grantee, with no expectation of a particular product or service in return.