Should my business bid for Government contracts?
In short, yes. Why tender? Providing goods and services to Government can be very rewarding for your small business. Being awarded a Government contract can be an excellent way to establish your name, generate steady cash flow and safeguard the future of your business. But you need to be aware of all the risks and prepared for strong competition. Why small businesses do not engage in government tenders? Small businesses in Australian are more averse to risk than their larger counterparts and often have more to lose. A big government contract could be the life saver, although it could be seen as a risk to have all your business tied up in one client. Other barriers for small business can include a lack of understanding the minimum requirements for a Government tender, the steps or the jargon. Limited resources can be a barrier as well as a small business may not have the time or people to produce the necessary documentation. The risks may seem too high with small businesses often havi