Government contractors are subject to strict rules regarding conflicts of interest, so partnering with another company can create the appearance of impropriety. One potential downside of JVs is that they can create ethical and compliance risks, particularly for government contractors. By applying for contracts via JVs, you give yourself higher chances of success because the officials will consider past performance for both companies, instead of just one.ĭespite all the benefits of JVs, they, like most things in life, are not perfect. The GSA also maintains a database of contractor performance information, which is available to government officials when they are considering awarding a contract.īy reviewing this information, officials can make sure that they are selecting a contractor who is likely to complete the project successfully and provide value for the taxpayers’ money. The Small Business Administration (SBA) and the General Services Administration (GSA) are two of the agencies that oversee government contracting, with the SBA requiring contractors to submit information about their past performance on similar projects, as well as any relevant customer satisfaction data. This information can be used by the government to evaluate the contractor’s capabilities and to determine whether they are likely to be successful on the project. Government contractors are often required to submit information about their past performance as part of the bidding process. This is especially important when starting out due to the ‘past performance’ requirement. This can help reduce the financial risks associated with pursuing new opportunities in the government contracting space.įinally, working with a government contracting company can improve your chances of success when pursuing new opportunities in the government contracting space. However, if the project fails, the parties can limit their losses by sharing them with the other members of the joint venture. If the project is successful, the parties can share in the profits. ![]() The advantage of a joint venture is that it allows the parties to share the risks and costs associated with the project. In addition, government contracting companies typically have established relationships with key decision-makers within the government, which can give your company an advantage when bidding on contracts. ![]() The process of bidding on and winning government contracts can be time-consuming, so working with a government contracting company can free up valuable time for your company to focus on other aspects of your business. A good government contracting company will have a database of contacts, potential clients, and projects that you can leverage, making it easier to find the right opportunity for your business.Īnother benefit of using a government contracting company is that they can help you save time and money. There are millions of government contractors and even more contracts out there, so it can be difficult to know where to start when looking for new opportunities. Access to a Wider Range of OpportunitiesĪnother reason to use a government contracting company is because they have access to a wider range of opportunities than your company might be able to find on its own. confusing, and littered with bureaucratic red tape, but a good government contracting company will have the experience and knowledge, and perhaps more importantly the contacts, necessary to guide you through the process and ensure that your company is successful.Ģ. While you may have the technical knowledge about the service you provide, there is a lot more that needs to go into applying for, winning, and maintaining government contracts. The first reason to use a government contracting company is because of their expertise and knowledge of the government contracting space specifically. Expertise and Knowledge of the Government Contracting Space While there are many different ways to secure contracts many different kinds of contracts, and each have their pros and cons, we thought we would discuss the top 5 reasons to start with JV, especially when venturing into the world of GovCon for the first time.ġ. ![]() If your company is looking for new opportunities in the government contracting (GovCon) space, you may be wondering whether or not to start a joint venture (JV) with a government contracting company to secure contracts. Government contractors often form joint ventures in order to bid on large projects because doing so can yield multiple benefits. What is a joint venture (JV)? A JV is a business arrangement in which two or more parties agree to pool their resources in order to achieve a common goal.
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