When looking for technology grants, you should consider the pros and cons of targeting the federal government for technology grant funding for nonprofits. When looking to fund programs, I believe there are three advantages to targeting the federal government: 1. Money is safe, 2. Information is easily accessible, and 3. Larger orders, therefore more profit. Whereas, three disadvantages would be: long offer proposal, considerable amounts of paperwork during the maintenance of the contract and the competition is excellent.
The first advantage I listed is that the money is safe. If my company got a business contract from the government, I would surely get paid. It would eliminate the late payment or collection process that we currently have when dealing with smaller entities or individuals. The second advantage of targeting the federal government is that the government can provide easier access to information for its contractors through up-to-date Internet sites, which is not always available with smaller vendors. Finally, the third advantage I see is that bigger orders equals bigger profit. Securing a government contract would likely be a substantial order and a win for our company that would be worth any hurdles we have to overcome in the long run.
The first disadvantage I see in targeting the federal government is that there will most likely be a lengthy bidding process. We have submitted bids for local vendors that don’t even compare to the potentially hundreds of pages a government proposal could contain. This would mean many physical hours invested in preparing the offer for the proposal. Second, I think a big downside for my company if we were to get an offer from the government is that there would be a significant amount of paperwork involved in keeping the contract. The government is in the public eye and therefore sets strict regulations that providers must follow, which includes a lot of paperwork! Again, this would involve many hours to keep up with this obligation. The third disadvantage that I think is that the competition would be tremendous. Although governments are asked to favor smaller companies, I think that the competition between those smaller companies would be very great. I feel like my business would be at a disadvantage compared to other competitors simply because we are not a depressed business first and foremost and we are not a minority owned business second.
Having said all of this, I would advise my company leaders to “go for it.” I think they should look into a government contract and I justify this by saying that I think the pros outweigh the cons in our situation. I think the potential benefit alone would justify my recommendation. However, before making the final decision to proceed, I would also recommend that my company review our current budget and ensure that the cost of the additional hours involved in preparing the bid proposal is affordable even if the contract is not awarded. adjudicate. Then, of course, if the contract is awarded, the cost of maintaining the documentation must also be considered.