You should know... Your business cannot receive a penny of federal funds without first being validated by D&B® and SAM.gov. Registering with the federal government can have far-reaching benefits for small companies who are seeking to obtain funding, build credibility, and grow their business. Everyone has heard of the $600,000 toilet seat or the $1.5m paper clip contract. While that particular concept may seem hard to even imagine, our government does have a need for reliable federal contractors who can provide a quality product or service at an attractive, reasonable, and competitive price.
Many major corporations were once small Mom and Pop businesses, but were able to skyrocket to success by holding onto the coattails of everyone's favorite uncle, Sam.
The federal government requires any company seeking to obtain federal contracts, grants, or loans to register at SAM.gov. The System for Award Management (SAM) is the official U.S. government system that consolidated the capabilities of CCR/FedReg, ORCA, and EPLS. Entities may register at no cost directly from the website, and usually takes about 30 minutes to register and another 45 minutes to specifically identify the type of company you are and what products or services you would like to offer to the government. While the site itself is simple enough to navigate, the entering of information is repetitive, tedious, and can be rather daunting for a first time user. The benefits, however, are well worth the time and energy you invest in the process.
One of our current clients, for example, designs, manufactures, and distributes automated beverage dispensing systems. While he may spend a lot of time, money and energy marketing his product to a few thousand prospective clients, by registering his company as a federal contractor, he will open up a global marketplace for his products by servicing just one client, Uncle Sam.
When you consider the opportunity to provide their product to every chow hall, mess kitchen, NCO Club, Officers Club, and government facility across America, much less every US military installment and embassy on foreign soil, the possibilities are astronomical. And while they may just see our assistance with SAM registration as a side benefit to the credit-building his company already needed, it may just turn out to be the best decision he have ever made for his company.
Even if your company doesn't sell a product, even if you sell a service such as property management services or rentals, you can still register to provide a service to the federal government. A few years ago, while working for D&B®, an escalation came across my desk that involved a new post office being built on the outskirts of a suburban area. The contract for the construction had already been awarded, but the contractor who won the bid needed to rent a couple of locations for the work crews while the construction was being completed. They wanted to only rent from someone who had been cleared by the government, but the agent they had in mind had not registered his business through federal registrations. We updated his information with D&B® and then processed his registration. Within 30 days, the contractor had his housing scheduled and could plan his project. As a side benefit, the agent could then offer his services to others as a fully registered company.
The System for Award Management requires that your D&B® report match exactly to the information you are entering into their system, so updating your D&B® report is a prerequisite. A misplaced comma or incorrect employee count can kick back a registration and prohibit you from proceeding as planned. At Starpoint Credit Solutions, we assist you with updating your D&B® report with complete and verifiable information so you can register at SAM.gov and become eligible for federal programs.
We know the steps and are willing to dedicate our time to the process so you can grow your business and obtain the funds you need for your company. Like the professionals at SAM, we understand the value of having solid information on file for your company, including certain pinpointed qualifiers, such as a minority-, women-, or veteran- owned business. Let our expertise guide you through the process and insure it is registered correctly so you can move forward to your goals immediately.
The Office of Government Contracting (GC) works to create an environment for maximum participation by small, disadvantaged, and woman-owned businesses in federal government contract awards and large prime subcontract awards. —
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