So you registered your company in a state vendor registeration portal! You listed all the industry codes representing the types of services and commodities you provide, you provided your contact information, submitted your FEIN number, confirmed your email address and jumped through a bunch of other registration hoops. Now, you finally received that confirmation email saying your company is a registered state vendor.
Congratulations! Now that you’re done, you can just sit back and read the tons of contract opportunities that will soon pile up in your email inbox . . . right? WRONG!
Just because you are registered in a state’s vendor registration portal, don’t expect to see ALL the opportunities. There are dollar thresholds that states follow to determine if they will advertise a contract opportunity. Each state has a different trip wire. Louisiana says that “procurements of $25,000 or greater are advertised…” California’s State Contracting Manual – Vol. 1, tells us that “contracts under $5,000 are not required to be competitively bid.”
Going after these under the wire contract opportunities now becomes a strategic business decision. One that should be unique to your operation that depends on things like if the opportunity is in your home state, setasides, the incumbent vendor’s (if there is one) relationship to the client and profit margins associated with winning/servicing the small contract.
Think about it . . . then act . . . or move on!