Singapore and SMEs Bidding for Government Contracts
SMEs play an important contribution to the wealth and stability of Singapore’s economic status. Two-thirds of its employees are coming from SMEs and contribute to almost $200b. With that being said, qualified contractors and subcontractors have a large number of procurement opportunities available for them. Here are some tips that can aide SMEs bid and win government contracts:
Check and Study the Trend in Gebiz Regularly
Gebiz is Singapore’s government online procurement portal. It is where invitations for quotations and tenders from private sectors are posted. Here you can search for procurement opportunities and download trend documents that can help your business. It is important to be familiarized with the site and regularly checked as it continually updates.
Maximize Your Best Offer
You need to know the business strengths and weaknesses, so you can maximize the best that you can offer.
Thoroughly Study the Tender Document
Review every aspect of a tender document before submitting a bid or quotation. You need to check if you can deliver it.
Prepare and Submit Every Paperwork
It is a must to become a Gebiz Trading Partner (GTP) for you to bid for a governmental contract. And also, you need to submit your company incorporation documents and other relevant information. Once registered as GTP, every tender involves another set of paperwork to be done. You need to understand that this process can be tedious and lengthy. And to avoid mistakes and save time, it is best to make sure that all of your documents are in place and order.
Don’t Be Scared to Expand Your Network
You need to be proactive as well. Also, you cannot just rely on Gebiz for the success of your business. You need to organize a meeting and work with people that can help you. It is good as well to seek advice from professionals consulting agencies for the best strategies for your business if you think you cannot do it alone.
How 3E Accounting Can Help SMEs
The non-stop evolvement of technologies makes all businesses undergo a business transformation. It answers to the constant change to the demand of the market. It is the main factor that determines the success and future of one’s business.
Due to the growth of SMEs in Singapore, it gave rise to several company registrations service providers. It is pertinent to check and find which one would be a significant help to your business. Good thing, there is 3E Accounting ready to help. It is one of the awards winning in the industry. You can rest assured that they can help you bid and win governmental contracts.
SMEs Transformation Package
3E Accounting is offering SME Transformation Services. Through this, they can help you plan and execute strategies that will help your business succeed. You will have a clear picture of the worth of your business, its performance, and how to redesign your business model. With this, you will be able to understand the trend in GeBiz better that can help you submit better bidding. Thus, the chance of acquiring government contracts would be higher.
Bidding and winning a governmental contract is just one of the many tasks that need to be done. With that in mind, following the tips that were mentioned would make it easier for you. All the more, it gets easier if you seek professional help. However, the success of any business still depends on determination, patience, and love at what you do.
