Applying for a government contract can be a complex and competitive process, but it can also be a rewarding one. Government contracts can provide businesses with a stable source of revenue, and they can also help businesses to grow and expand their operations. If you are interested in applying for a government contract, there are a few things you need to know.
First, you need to understand the different types of government contracts. There are two main types of government contracts: prime contracts and subcontracts. Prime contracts are awarded directly to businesses by government agencies. Subcontracts are awarded to businesses by other businesses that have already been awarded a prime contract. There are specific size standards the government has set for small businesses, these are the standards government buyers must follow. The standards vary based upon the type of contract and the location of the work. The table below shows the size standards for the most common types of contracts.