Pros and Cons of Targeting Federal Government For Funding of Technology Grants Non Profit

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When looking for expertise grants one ought to take a look at the professionals and cons of concentrating on federal authorities for funding of expertise grants for non-profit enterprise. When searching for funding for packages I believe that there are three benefits of concentrating on the federal authorities 1. The cash is for certain, 2. There may be easy accessibility to data, and three. The bigger orders, thus extra revenue. Whereas, three disadvantages could be: in depth 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’d make certain to be paid. It might reduce out the late cost or the collections course of that we at present have coping with smaller entities or people. The second benefit to focus on the federal authorities is that the federal government might present simpler accessibility for data for its contractors by means 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 definitely be a considerable order and revenue for our firm which might be value any hurdles we might have to leap by means of in the long term.

The primary drawback I see to concentrating on the federal authorities is that there’s most definitely an intensive bid proposal course of. We’ve submitted bids for native suppliers that don’t even evaluate to the potential a number of hundred pages {that a} authorities proposal would possibly include. This is able to imply many bodily hours invested in making 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 so as to preserve the contract. The federal government is below the general public eye and thus set-forth strict laws that the suppliers should comply with, which incorporates a lot paperwork! This is able to once more, contain many hours to maintain up with this obligation. The third drawback I consider is that the competitors could be super. Despite the fact that 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 scenario. I believe the potential revenue alone would justify my suggestion. Nonetheless, earlier than making that ultimate choice to pursue, I might additionally suggest to my firm that they evaluation our present finances and be sure that the price of the additional hours concerned in making ready the bid proposal could be reasonably priced even when the contract was not awarded. Then, in fact, if the contract is awarded the price of sustaining the paperwork must be thought-about as nicely.

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Source by Wayne Frederick