One of the main purposes of the Government and Federal procurement acquisitions is to establish and maintain healthy relationships with the SBA community. Almost all federal agencies award a fair portion of contract dollars to qualified small businesses participating in one of the socio-economic set-aside programs. The Small Business Administration was created to protect small disadvantaged businesses’ concerns. It ensures that procurement officers get close to meeting the goal they set annually to award contracts to businesses that belong to one of the groups. The aim of the program is to encourage them to participate in the competition and offer economic opportunities to win federal contracts.
As a way to advertise contracting opportunities and meet these goals, small business offices of every federal agency organize annually open house events all over the country. These events are called Industrial Days can be an essential opportunity for small businesses who are interested to enter the world of federal marketplace and win contracts. This way they are able to see what business opportunities are available and help them identify contracts they think might be convenient and meet the goals of their companies.
The purpose of Industry Days is to fill the information gap by providing businesses direct access to familiarize with the Federal agencies (customers) and their requirements and needs. Attending these events, prospects will have the chance to learn about programs, initiatives, challenges, and upcoming requirements of the buying organization that drives them to fill their opportunity pipeline and target contracts. Industrial Days provide networking opportunities that can guide potential contractors maneuver more efficiently the federal procurement competitive environment and profoundly win more awards.
Benefits of Attending Industry Days
Participating in an Industry Day or exhibition can provide you with opportunities to diverge Federal agency – contractor trading and assess who are your potential candidates, and their business approaches. Even though most small businesses are occupied with their daily operations and struggle to maintain their level of profits, attending Industry Days can be very beneficial for their business growth opportunities, including:
- New Business Opportunities
- Business Promotion
- Getting Familiar with Federal Agencies
It’s very important to be active and keep updated with the ever-changing industry trends. Becoming a federal contractor can open you many doors, and give you a big boost to business development. Therefore, don’t think that investing time to capture the right opportunities won’t improve your ROI. Get there and do your best to exploit your opportunities and win more contracts.