Recently there has been significant uncertainty in the government marketplaces that the APEX Accelerator Advisors navigate each day alongside Washington firms. The State and many local governments are on spending freezes which were issued abruptly stopping forecasted contracts and task orders in their tracks. The White House has issued over 50 Executive Orders since January 20th, many of which overlap each other and impact federal contractors in ways that are unclear even by acquisition staff.
The professional team of advisors at Washington APEX Accelerator is prepared to support your firm as you navigate changes to the marketplace. We uniquely understand how uncertainty in public contracting compliance or upended spending forecasts makes developing a successful strategy for winning work all that more complicated. To address this, we’ve compiled a few of our best practices and welcome the opportunity to meet with you to explore how we can assist further.
- Tip 1: Seek Clarity – If you are ever unsure as to your obligations as a contractor with a government agency, get clarifications in writing from your cognizant contracting officer. According to the Federal Acquisition Regulations, modifications must only come from your contracting officer. Expect a bit of uncertainty for a while since the procurement staff may need extra time to respond.
- Tip 2: Use your legal counsel – If you are issued a termination, stop work order, contract modification or another change in your contract or subcontract, an attorney familiar with the Federal Acquisition Regulations or relevant laws should be consulted prior to signing. Washington APEX can discuss with you too, but you’ll also need guidance from your legal counsel.
- Tip 3: Conduct a Customer Review and Risk Assessment – Take a close look at your customers and the type of contract you have. What is the mix between private and public sector customers? Are you overly reliant on a specific government program or prime? Is a significant amount of your work awarded under a socio-economic competitive advantage? This review can help illustrate weaknesses in your portfolio of business. Bring your findings and your concerns to your next appointment with an APEX Accelerator Advisor to discuss diversification strategies.
- Tip 4: Stay focused and intentional with your time – It can be exhausting trying to keep up with all the news that is evolving hourly. At the end of the day, your personal health and the health of your business is what needs your attention. Consider your APEX Accelerator advisor as part of your community and reach out to let us help you navigate it.
