Planning for Success During A Biden Presidency
With each new presidential administration comes a raft of new priorities, new appointees, and new business opportunities for savvy government contractors that know how to find them. As America turns the page to our 46th President, political promises will begin their transition into programmatic and policy changes. In this blog, we’ll keep track of the major changes and how they may (or may not) create opportunities for your business.
Let’s start with the highlights. The Biden-Harris administration has been vocal about supporting small businesses and social inequities through Executive Order (EO) and newly appropriated funding to bolster an economy ravaged by covid and an electorate divided over social inequities.
If you are a small business owner, this is your chance to utilize some resources at your disposal for the best outcomes in the coming year. This article gives a rundown of policies you should know, and then we’ll show you how GovShop can help!
How is the Biden Administration aiding small businesses?
With the pandemic taking its toll on small businesses during a challenging year, it’s no surprise to see the Biden-Harris administration looking to inject capital into this crucial economic sector. Small businesses should look for an expansion of small business relief funding including:
- Up to $15B in small business grant funding through the COVID-19 relief bill
- Expansion of Obama-era Buy American Act requirements to encourage domestic small business production
- Stricter oversight of federal small business goals – building on the Federal Procurement center established during the Obama administration
- Emphasizing the Small Business Innovation Research (SBIR) program
Biden also plans to raise the contracting goal for small disadvantaged businesses to 15% by 2025, an increase from the current 5%. When combined with the aforementioned $15 billion small business grant program, over a million small businesses will have access to government financing programs and other benefits. The push for masks and roll out of multiple vaccines is also included as a top priority to improve the current state of the US economy, with small businesses on the forefront of production through the expansion of Buy American Act clauses. While “buy American” is great political speak, it doesn’t always filter down to the procurement level, so just how much more government contracts go to domestic manufacturers will tell us whether this presidential priority has real teeth.
We’ll keep tabs on these programs as more details emerge.
Executive Actions to Know
How will PALT’s Formal Definition Impact Federal Procurement?
While not technically an EO (and not officially the Biden-Harris administration, as it was signed by outgoing Office of Federal Procurement Policy Administrator Michael Wooten), this memorandum portends the return of executive-level focus on acquisition improvement. The memorandum formally defines procurement administrative lead time (PALT) as “the time between the date on which an initial solicitation for a contract or order is issued by a federal department or agency and the date of the award of the contract or order.”
This is notable as an earnest attempt to make the procurement process more efficient, and that should benefit small businesses through faster award decisions and a hopeful decrease in bid and proposal costs. The memorandum is also significant for directing agencies to adopt “frictionless” acquisition techniques that use innovations found in the Federal Acquisition Institute’s (FAI) Periodic Table of Acquisition Innovations to improve requirements development, vendor communications, and market research. Any business intent on helping to modernize government technology should familiarize themselves with these practices and consider building them into their own business development strategies.
Will Stricter Buy American Rules Change the Ecosystem?
Via the Executive Order on Ensuring the Future Is Made in All of America by All America’s Workers, the Biden administration put some teeth into its “Build Back Better” plan by calling for $400 billion in “Buy American” procurements during his first term. Specifically, the order directs agencies to, “whenever possible, procure goods, products … and services” from American businesses to help improve economic outcomes. These are continuations of the Made in America laws implemented previously, but with stricter regulations.
For a small business with relationships with domestic manufacturers (or in certain cases, domestic assembly capabilities), this opportunity presents a chance to win contracts that might otherwise be awarded to foreign firms. Buy American, with Biden’s main priorities in office like “climate change, racial inequalities, the coronavirus pandemic, and economic recession,” will directly impact federal contracting and the American industrial base for at least the next four years.
How can my business use this information?
These executive actions, and the new priorities around modernizing government technology, present chances for contractors to win brand new contracts without competing with entrenched incumbents.
If you have govcon ambitions, a new administration is a great opportunity to get into the game. Let GovShop and Public Spend Forum be your guide. Our 10-week online bootcamp can turn those ambitions into action with instructions on registering your business with the government, developing your capability statements and business strategy, and learning techniques that can earn you contracting revenues earlier than you might expect.
The bootcamp is free, but you can get started today with our easy Guide to Sam Registration. Once registered, read up on the government’s small-business set aside programs to determine if you are eligible for any socioeconomic set-aside contracts, then claim your free GovShop profile and make your status known to potential government buyers.
Our platform GovShop is your helping hand to being more visible to government buyers, as well as providing you new opportunities as they come. Our newest feature, the supplier dashboard, allows you to follow specific government contracting opportunities and potential business partners to keep your work organized. With a monthly subscription, GovShop also offers opportunity matching to proactively find government contracting opportunities that relate to your core capabilities.
Click here to learn more about how GovShop can help your company find the best possible matches. With any changes, it’s important to stay up to date – a change in Presidency is no different. GovShop is here to help, and we would be happy to connect with you and your small business for a demo!