Bidding The Right Way

Posted on June 4, 2021 by Richa Roy

Bid-Managers_BlogsBid managers are the unsung heroes of the sales team and the organization. They are the one that drives the organization’s success by using their analytical skills to help the organization build its market place and move towards sustainable business development. As government sector projects lay the path for lucrative business opportunities and long-term growth it does come with a lot of hurdles and fierce competition. Here we have listed out few insights about e tendering business that can help you make the right bid.
As government bids follow a definite procurement process it is important for Bid Managers to meet all the deadlines and eligibility criteria of Government Procurement. Most government institutions have a Supplier Database and it is important to get yourself registered in the respective portals to secure a free and fair chance to bid.
Subcontracting
Subcontracting opportunities are a good way to start if you are new to the tendering business. Tie-up with big players ensure regular flow of work and helps to venture into newer markets. It is important to have a good network as that can help to learn and gain real-time insights about the marketplace.
Do not say yes to every Bid
It is not important to place your bid on every project. Make a checklist of all the information like past projects, financial statements, accreditation, etc, and keep it handy. Analyze the pre-qualification criteria and see if they complement your expertise and long terms goals. Go ahead only when you are sure that you have a competitive edge over others.
Identify the Pain Areas of the Buyer
It is of utmost importance to comprehend the requirements and recognize the torment spaces of the buyer. A tender response should be able to make you stand out from the competition and talk about how your services can add value to the buyer. Also, it is seen that mentioning past references talk volume of your business and work model.
Tender application is evaluated on the grounds of financial, technical, capability, and service it is important to keep all the documents handy and mention the details to make sure that the bid is compliant with all the criteria.
Ask for Review
Input and audits can assist you with recognizing shortcomings and in the end, transform them into qualities. It is imperative to request for a feedback as it can assist you with understanding where your administrations need to intrigue the purchaser. Additionally, an interior survey is essential to see how things are going and which regions need improvement.

To conclude it can be said that there is no brilliant standard to win a bid. It is a slow cycle of gaining information and bits of knowledge about the market to improve the achievement rate. Infomerdiaries like TendersInfo offer customized bid management assistance and services to help you place the winning bid.
With more than 20 years of involvement, it very well may be your go-to platform for government Tender information and data to help you settle on the correct decision.

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Everything You Need To Know About Writing The Winning Bid Proposal

Posted on May 11, 2021 by Richa Roy

 

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Putting across a bid proposal is a tricky task and one must make sure that you can differentiate yourself from the competitors in developing an attention-grabbing bid. Government organizations aspire to get the best possible outcome of the procurement so it is in the own interest of the Bid Manager, Suppliers, and Contractors to submit the most accurate and well-informed bid proposal. A very critical part of the bidding process is drafting the bid proposal. It is crucial to invest an ample amount of time in it doing the research about the contracting government organization and what they are expecting from the tender.

What Are The Elements Of A Bid Proposal?
There are many tenders issued by Government organizations and proposals can vary for different organizations and project requirements. Certain elements are more or less present in every Bid Proposal such as

    • Supplying agencies contact information
    • Supplying agencies contact information
    • Scope of the job
    • Purpose of the proposal

Details of services and goods to be provided by the supplier or contracting agencies
Information about value-added services
Price information
Additional terms and conditions
Estimated Project Timeline
Signature of both the parties

What to keep in mind before drafting the bid proposal?

Keep A Personalized Approach

Address the contracting authority by the name. This will signal the Government organization that you have gone through the details of the tender document and did not just go about copy-pasting responses for every project. Moreover referring by name helps to build a personal connection. Like every Tender, each buyer is different and has different expectations from the contracting authority. So take your time to read the tender documents and tailor your response as per the particular bid. If you have any problem comprehending a particular question do take the liberty to ask.

Information About The Project

Tender documents are the guide that has all the critical information about the project like the Government’s requirements, Procurement Procedures, Evaluation Criteria, and Contract awards. Study the Tender document bit by bit to make sure you can cover every aspect of the project and put forth a persuasive proposal stating how your skills and resources will be able to deliver quality results.

It’s About Them Not You

What differs a bad bid proposal from a good bid is how you hit the balance between presenting your skillset and details about the project. Too much information about you or simply putting down irrelevant skills would not help you bag the deal. Instead, few examples of similar projects that you have worked on along with specifying why you are the best fit for the job will help you grab the attention of the contracting authority.

Promote the benefit

While drafting a tender proposal it is important to site the Cost, Timelines, and Requirements of the project. It is important to outline the benefits that government organizations will derive from you. A well client-focused tender has a better chance of winning than the one that lacks the effort in understanding your needs and providing a solution for the same. It is crucial to do the research on what the government agencies are seeking out from the contracting authority and try to come up with more than one alternative idea for the same.

Remember to focus on the fact that your solutions are beyond the scope of the project.
Try to put forth an additional positive impact that your bid offers to the community or businesses in general.

Put Yourself In The Buyer’s Shoes

A more emphatic approach towards drafting a tender proposal is to put yourself in the shoes of the buyer. Ask yourself questions like What is important to the client? How can you add real value to the specified requirements? What are the benefits that you might look at while selecting a tender proposal?
If you think your bid proposal will be able to give impressive answers to these questions and put a long-lasting impact on the minds of the decision-makers that you are good to go.

Proofreading is Key

The bidding process includes dealing with strict timelines, intense pressure, and multiple management of the resource. More so than none there exists grammatical or unattended errors in the proposed draft that will put down your company’s image. We cannot stress enough on the exercise to proofread and edit the proposals before sending them out. Given the high volume of bid proposals that governments receive one cannot afford to take a chance on making silly errors and reduce their chance of winning.

Professionals Behind The Scene

Choose your team as per the strengths of the professionals that can work together and share the common goal i.e winning the government bid. It is important to create a team that is organized and collaborative that can complete the job efficiently. Before heading on the tender proposal draft it is important to clearly define the roles and responsibilities of each team member and ensure all of them are on the same page.
Remember your team can make or break the deal so choose your people wisely.

The cheapest Bid always wins is a myth!

When you bid for a project you ensure that you will incur a cost and it is crucial to place a reasonable ‘quote’ for the services that you ought to offer. Underpriced bids not only lead to incurring losses for the business in the long run but also reduces your credibility. Value for money is an important criterion in tender Evaluation so one should put across a clear estimate to carry on with the bidding process with authenticity.
Elements of a clear ‘quote’ cost breakdown include
Hourly Wage
Material Cost
Opportunity Cost
Overhead Cost
Manpower
As long as you can justify the price that you have put up you are all set.

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Various online Infomediaries like Tendersinfo are there to ease out the process of government bidding by assisting its users from the initial stages of preparing the bid proposal till the contract award. Just within a few clicks, e-Procurement Technologies Limited brings to you its wide range of services under its various brands.

Click on the links to know more!

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Use these Five Simple Tips to Win Government Bids

Posted on April 27, 2021 by Richa Roy

Tips-to-Win-Government-Bids._Blogs

Government contract offers a huge pool of opportunities for both small and large enterprises. Each day federal, state and local agencies release several tenders across regions and sectors. Given its wide variety of reach and the lucrative business opportunities that come along with a government project the competition is certainly fierce and one needs to stand apart from the competition to come out successful.

Although, there isn’t any universal template or procedure that applies to every government bid. The weightage and scoring of each tender will be different in the ease case. Here we have listed out the top five ways that can help you bag the most sought after government project.

Do your Research

To compose the perfect tender response it is important to do primary research about the prerequisites of the clients that include an understanding of the offering of that government division, their policies & directive principles, and requirements from the tender.

Keep these things in mind before you carry on with the research process –
 A thorough analysis of the tender document is a must for understanding the condition and requirements of the project. Also ensure that you will be able to meet the capacity requirements in terms of Manpower, Technology, and Experience.
 It is critical to attend all briefings and meeting sessions and ask relevant questions to demonstrate your unique position to be able to provide the service.

 Devote plenty of time in drafting the tender proposal and do not forget to attach every document. Keep the capability statement relevant to the scope of the government project and show how your services are different from the competitors. Considering a covering letter will be an advantageous choice.

Technology is Key

Over the few years Bid Managers, Suppliers and Contractors have made the shift from paper-based material to use bid management software that can keep track of the varied activities in the bidding process on a real-time basis. Automation of the bid management process gives the time to cut down mundane activities and focus on areas that can increase your chances of winning. Click on the article ‘Go Digital With The Bidding Process’

Keep yourself Mindful

While various government agencies put out thousands of tenders in the market one can understand the magnitude of the opportunities that are out there. Hence it is important to use the first mover’s advantage by bidding on the government opportunities before the competitors. Subscribe to Online infomediaries like Tendersinfo to get real-time tender alerts across the globe that suits your niche. Also sign up for a range of value-added services like Webinars, Industry News, Procurement Analytics, Bid Assistance, and many more to keep yourself updated about the current market conditions.

Stick to the timelines

Ensure your bid proposal is well prepared before the final submission deadline. Try not to stand by until the last moment to submit the proposal as that might miss you out on the chance of being able to submit the documents. Late responses set up a negative image of your business and such responses are not accepted by the government organizations unless furnished with conclusive evidence for the delay.

Subcontracting

It often gets difficult for smaller businesses to secure bid government contracts due to the inability to meet eligibility requirements or lack of experience. Going sub is a smart way for SMEs to bid into government contracts by tying up with seasoned contractors that can give you valuable insights about the business along with securing the benefits of participating in government projects. To know more about subcontracting, click on the article ‘An Insider’s Guide to Subcontractors’

Above all stay positive and do not get bowed down with the competitiveness in the market. Have faith in your organizational capabilities and teamwork. Seize the right opportunity and prosper!

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Did you know many Procurement Team in govt use MEAT as part of evaluation?

Posted on April 8, 2021 by Richa Roy

Blog_Tender-Evaluation

Government Procurement Professionals aim to achieve the best value for money in the process of procurement of goods and services for the public. A weightage-based criterion helps the procurement team to select the best out of the lot that gives the best value in terms of Cost, Quality, and experience.

Most Economically Advantageous Tender (MEAT) is the measure for selecting the best out of the incoming bids based on factors that are related to the subject matter of the contract. It takes into account components like Cost, Quality, and Technicality of various bid proposals while deciding a contract award.

This criterion of selecting the tender was announced by European Parliament in January 2014. The principle behind the selection of tender on various factors is to choose the tender proposal that fits best for the most critical elements of the project. The weightage of each criterion determines the relative importance of that criterion to meet the requirements of the government project.

The factors on which tenders are evaluated in MEAT assessment are
Quality
Cost-effectiveness approach
Technology
Aesthetic and functional characteristics
Accessibility
Social characteristics
Environmental characteristics
Innovative characteristics
After-sales service and technical assistance
Delivery date, process, and period.

It is well updated in the Tender Document about the above metrics based on which the successful bidder will be announced and also the weightage that each one of the criteria holds. The regulation is such that the criteria for contract award must be linked to the subject matter relating to work, services, or supplies of the contract in question. Also, once these criteria are stated they cannot be changed at a later date.

Evaluation of tender is divided into two parts first being the technical Evaluation that involves the assessment of the tender bin its technical merit. Under technical merits falls aspects like turnover, certifications, manufacturing capacity, machinery, Quality control system, and many more. The second part involves the financial review of the cost of each tender as compared to the lowest price offered. Tender Evaluation is done as an aggregate of both aspects.

Hence, It is crucial for Bid Managers, Suppliers, and Contractors to understand all basis of assessment and then go forward with the submission. Tendersinfo offers the best-in-class Bid Assistance, Market report, Contract Award, Sectorial News update, and other services to make sure your bid is successful.

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Read these 10 tips before bidding for Government Contracts

Posted on April 1, 2021 by Richa Roy

10-tips-before-bidding-for-Government-Contracts_Blogs

Expansion of customer base is a priority to every business but more often than none small businesses do not consider the far-spread opportunities that come with Government Procurement. With more transparent laws the opportunities in Government Procurement is not just limited to a handful of large enterprises but it has requirements that even small businesses, SME, or Joint Partner businesses can fulfill.
Here we have listed out 10 tips that are suited for businesses of any scale and how they can put them into use to win Government contracts.

Competitive Approach
Public Procurement provides a huge pool of opportunities and it is important to stand apart from the competition by presenting your competitive skills and capabilities in the proposal to increase the chances of getting shortlisted. As innovation is the key to get ahead of the competition it is important to highlight the innovative solutions and products that you can offer to the government.

Qualitative v/s Quantitative
Procurement Professionals are on the lookout for Suppliers that is economical as well as ensures good quality. Hence it is important to put forth a proposal that can crack the MEAT criteria and offer the best value for your products and solutions. To know more about what Public Procurement Professionals look for during the procurement process read this blog ‘Ultimate Guide to the Insight of Public Procurement Professionals’

Analyze Tender Documents
Specifications in the Tender Document talks about the requirements of the government organization and what they are expecting from the suppliers. Make sure you have a detailed understanding of the eligibility criteria for the evaluation and scoring techniques and all the other aspects before placing your bid.

Draft Proposal
As much as a detailed understanding of the government organization is important businesses should make sure they invest a good amount of time to outline their company’s eligibility to meet the requirements and showcase their capabilities. An effectively written bid proposal is the first step towards the beginning of a good vendor-client relationship that adds to your chances of winning.

Effective Communication
Keep these few things in mind before drafting the bid proposal.
– Research about the government organization to explore the challenges faced by them.
– Evaluate the competitors’ strength and weaknesses to draft a proposal that can have an edge over others
– Consider including value-added services and good
– Proofread the Bid Proposal to create a professional impact on the buyer.

Study Award Criteria
Government procurement lays down several criteria relating to meet the financial and economical requirements of the government organization along with technical and professional expertise to fulfill the contract. Businesses need to pay close attention to the various contract award criteria of government organizations to be able to go ahead in the bidding process.

Consortium
The high-end eligibility criteria of public procurement often make it difficult for SMEs to tap into opportunities of government contracts. It is strongly recommended to partner up with other businesses to meet the eligibility requirements and make significant expansion on their business. To know more about how SMEs can increase participation in public procurement click on this blog ‘An SME Guide to Increasing Participation in Government Contracts /Tenders’

Subscribe to a Tender Infomediary
Many Government organizations release several Tendering opportunities on various portals. It is nearly impossible for Bid Managers, Suppliers, and Contractors to keep track of the various opportunities that are open in the market. Tender infomediaries like Tendersinfo provide customized services to it’s subscribers by providing updates about available Tender opportunities that suit their niche along with value added services like Procurement Analytics, Market reports, Bid Advisory, and Assistance.

Smart Bid
Government Tendering requires a streamlined effort and teamwork that is directed towards the contract that has the greatest prospect of winning. Government organizations release many tender opportunities for Bid Managers, Contractors, and Suppliers and it is important to make sure you place your bid for contracts that match your capabilities and strength.

Request for Feedback
Every contract brings along an experience and learning that can help you plan the future approach. Whether you win or lose the bid make sure to request feedback and circulate it internally within the team to understand your strengths and the places where you might have gone wrong.

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Ultimate Guide to the Insight of Public Procurement Professionals

Posted on March 24, 2021 by Richa Roy
Ultimate Guide to the Insight of Public Procurement Professionals

Ultimate Guide to the Insight of Public Procurement Professionals

Public Procurement is a multi-staged activity and requires a thorough understanding of each process to be more successful with the bids. The Procurement Team involves divisions like Procurement Manager, Budget Holder, Management of the contract, and representatives of different sectors. The higher the value of the contract higher is the team size hence it important to understand the metrics based on which a bid is successful.

To put things straight the Government Procurement process comprises of four phases which are listed below-

Procurement planning- This stage involves the identification of activities and their direction of requirements.

Procurement Formalization- It determines the sources, budget, and approach to formalize the requirements.

Procurement Implementation- It includes activities related to the acquisition, selection of suppliers, contract award, and other activities of contract administration.

Procurement Evaluation- The final phase includes activities like Audit, Evaluation, Contract Award, and Feedback.

Even though there is no such general rule to win a contract but when you take each contract individually there is a commonality that prevails in tenders across various regions and sectors. Procurement professionals are highly skilled and tactical personalities who are consistently looking for an economical solution to the public requirements while making sure the quality is not undermined.

Procurement Professionals evaluate Tenders based on Price v/s Quality. Hence Bid Managers need to be able to crack the MEAT- Most Economically Advantageous Tender while performing well in the Tender Evaluation methodology that procurement professionals follow to access the technical qualification of the proposal.

Key Takeaway – One of the major tasks of a Bid Managers is to comprehend the eligibility criteria and evaluate the metrics that hold weightage to qualify you for the contract.

Procurement professionals are great relationship managers who are looking out for Suppliers and businesses to operate seamlessly and manage to meet the requirements of government tenders within the terms and conditions.

Key Takeaway – Pre-qualification questionnaires and Interviews are the entryways to win a contract. Hence it is important to put your best foot forward and put across your best potential to the procurement team.

Time management plays a key role in deciding the faith of your bid. While Procurement professionals have very clear time frames to ensure that there are very low downtime and reductions in turnarounds.

Key Takeaway- It is most important for Bid Managers to stick to the timelines.

As Strategic Thinkers Procurement Professionals think ahead of time and look for solutions that can lead to sustainable development and create a business environment that is transparent, competitive, and futuristic in its approach.

Procurement Professionals take into consideration the risk evaluation and allocation before the award of the contract to a specific contractor. With a proven record of great negotiation skills, Procurement Professionals make sure they obtain the ‘Best Value’ from the contract keeping in mind the Quality, Maintenance, Ongoing costs, and Incentives.

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How does The World Bank contribute to Public Procurement?

Posted on March 17, 2021 by Richa Roy

Project-funding

We know that governments across the world spend about a quarter of the GDP on public procurement and it is evident that it plays a crucial role in maintaining equitable distribution and sustainable development across countries. It is a policy instrument that encourages efficient public delivery and promotes the development of countries. Assuming a particularly significant role in the development of countries various donor agencies are pushing towards public procurement to build partnership and collaboration with various governments that create opportunities for Bid Managers, Contractors, and Suppliers in participating in government contracts.

The World Bank as the name proposes isn’t just a bank but a structure for underdeveloped and developing countries to acquire money at a cheap rate of interest for investment in the development programs of the country. With 188 member countries, the World Bank announces a certain amount of contribution to the bank by these members. Backed up by the security of the contributions the World Bank can draw money from international credit markets at a lower rate of interest and lend the same to countries at a lower rate.

World Bank’s business procurement framework aims to fulfill the following objectives-

Value for money

More opportunities in Government projects

Overall business-friendly environment

Maximize the role of public procurement by investing in projects that enhances the Public Service, Health, and Infrastructural Development.

To advance reasonable improvement across developing countries the World Bank has been actively investing in projects while creating opportunity sectors like-

Education

Energy & Extracts

Financial Sector

Industry & Trade

Info & Communication

Transportation

Water/ Sanitation/Waste Management

Health

Some of the recently approved projects include the development of electricity access of households and businesses in Western Africa with a total project cost of US$ 5.00 million. Alongside it is investing in foundations for a safety net system in the republic of Haiti to respond to various unprecedented issues like Covid 19. For more such updates click here.

With multiple procurement staff spread across 72 countries, the World Bank aims to support borrowing countries by giving lower interest loans or zero credits loans. These grants are either solely or co-financed by governments and other multilateral organizations for investment in development projects across regions. To know more about tender insights of various Multilateral Organisations click here

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European Union- Definition, Public Procurement & Tender Opportunities

Posted on March 10, 2021 by Richa Roy

European-Union

The European Union is a political and economic integration of 27 countries to promote growth and establish a unified monetary system. EU advances a transparent market by eliminating hindrances in the movement of goods, services, capital, and labor. The EU seeks to promote the values, objectives, and principles that are in the interest of the citizens of the member states.

As public procurement has a direct impact on the member states of the union they must stick to a common principle of sustainable development and balanced growth.

Trade policies of the EU include a common market for goods and services with no customs duties within the EU member states. Good trade relations with Mediterranean countries, Russia, and the United States paves the way for various development projects to open bidding opportunities for Bid Manager, Subcontractors, and suppliers.

Alongside providing subsidies to the member states a common currency helps to create economic prosperity and balance across sectors. The EU member countries offer a host of opportunities spread across sectors. Tenderinfo provides tender information about the various countries listed below all in one platform.

Austria– Leading in sectors like chemical, mechanical, and automotive it is one of the exceptionally evolved industrialized nations.

Belgium– Being the largest processor of Zinc, Cobalt, and Lead Belgium’s economy ranks among the top enterprises in Steel, Textiles, Metallurgy, etc.

Bulgaria– The strongest sectors of the country include Energy mining and Machine building with an increment in foreign investment post joining the EU.

Croatia– The significant ventures in the nation incorporate Tourism, Manufacturing, and Chemical industry to direct various business opportunities in this region.

Cyprus– With a diversified economy, the economy of Cyprus has encountered a developing revenue of investors in International business.

Czech Republic– Being one of the most steady, affluent, and developed economy its industries include High-Tech Engineering, Electronics, and Machine Building.

Estonia– The nation is a high-income economy with industrial sectors that mainly comprise Chemicals, Textiles, Machinery, and Electronics.

France– The country is the fourth largest industrial power with its economy driven by sectors like Power, Public Transport, and Defense.

Denmark– It is one of the most remarkable nations of the EU with a diverse economy of Services, Agriculture, and Industries.

Finland– One of the most prominent players in the global market, the economy of Finland is multi-sectorial with the most noticeable areas like Manufacturing, Refining, and Services.

Germany– Known as world’s famous business and manufacturing location the economy of Germany is dominated by Automotive, Mechanical Engineering, Chemical, and Electric Industries.

Greece– A vigorous shift in the sector from agriculture to manufacturing has caused the economy to rebound by opening several opportunities for development and growth in sectors like Textiles, Chemicals, Mining, and Petroleum.

Hungary– Hungarian sectors have undergone rapid transformation including major industries like Pharmaceuticals, Motor vehicles, Information technology, and many more.

Ireland– Being the most extravagant country in the world the nation has a mixed economy focused on Pharmaceuticals, Chemicals, Computer Hardware, and Medical Devices.

Italy– The country is the biggest worldwide exporter of luxury goods with industries in Textiles, Engineering Products, Pharmaceutical products that drive economic growth.

Latvia– The pillars of the Latvian economy are Agriculture, Chemicals, Logistics with more prominent sectors in Textiles, Machinery, and Green Technology.

Lithuania– It has a prime-suited business environment for investment across sectors like Petroleum Refining, Energy Supplies, Chemicals, and Textiles.

Luxembourg– Pointing towards a differentiated sectorial economy the government of Luxembourg has been encouraging the development in Information Technology, e-commerce, and Biotechnologies.

Malta– Recognized as a high level and exceptionally industrialized country the economy of Malta is very much evolved in Shipbuilding, development of gadgets, etc.

Netherlands– With encouragement from the government for innovation in various areas like Chemical, Logistics, High tech, and energy the business environment of the Netherlands is thriving and growing rapidly.

Poland– A growing manufacturing location in the European Union the economy of Poland is overwhelmed by areas such as Mining, Manufacturing, and Agriculture.

Portugal– Being the 40th largest exporter of goods the economy of Portugal is moving forward in areas like Manufacturing, Industries, and the Service sector.

Romania– Referred to as the Tiger economy the country of Romania is leading in fields like Automotive, Petrochemical, Metallurgical industry, and others.

Slovakia– The economy of Slovakia has transformed from a centrally controlled economy to a market-oriented one with development in sectors like Chemical Industry, Mechanical engineering, and Automotive.

Slovenia– The nation has made its transition to a modernized, diversified, and open market economy with main industries like Mechanical, Electronics, and Chemicals.

Spain– Being the largest exporter of Textiles Machinery the prominent industries of the economy of Spain are Textiles, Chemicals, and Shipbuilding and Automotive.

Sweden– Evolved from the traditional sector to a shift into high tech industries the Swedish economy has undergone a stable restructuring with development in sectors like Telecommunication, Pharmaceuticals, and Industrial Machines.

Easy access to tender information and various opportunities across these 27 countries can add to the expansion of your business. With Tendersinfo’s CPV driven tender searches you have all the information and insights across countries and sectors of the European Union right at your inbox.

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An SME Guide to Increasing Participation in Government Contracts /Tenders

Posted on February 24, 2021 by Richa Roy

SME

The government has initiated several policies to increase the participation of SMEs in government contracts. With a transparent procurement procedure and value for money policy SMEs can easily tap into various opportunities from government procurement that holds a decent segment of the GDP. The SME sector has tremendous potential in driving the nation towards diversification and innovation while increasing the employment rate. With the number of advantages it holds its high time that SMEs goes in the right direction towards the expansion of their business by taking on government projects. Several misconceptions like being too small scale for taking on government projects and lack of guidance have caused the small business to lose out on opportunities.

More than 7000 plus government authorities release tender notices every day which indicate the pool of opportunities available for SMEs. Yes! Not all tender notices will be of use to you but a customized service can easily get you opportunities that will suit your niche. Also, Government procurement contracts are required to meet several eligibility requirements that are difficult for SMEs to fulfill. A practical approach to choose from government procurement is to first understand if the work is doable within your capacity. Keeping track of the eligibility requirements of various government tenders can help you bag a lucrative government project by collaborating with another SME or waiting for the right one. Several online portals are there to assist SMEs to follow the right procedure to select the best government contract for you.

Lack of experience is another difficulty that often stops small businesses from attempting to take on government contracts. Also, the thought that your products are not up to the levels to meet government requirements stops you from bidding on government projects. All these boils down to the root cause of the inability to find relevant contracts that do not require much experience or high-end products or services.

Tendersinfo are the go-to platform for SMEs to access government procurement opportunities across sectors. With an updated library and 300 plus researchers spread across different locations, we make sure you do not miss out on any opportunity to expand your business by way of government contracts. With features like Daily update, Bid Advisory, Project Information, Archive Database, Procurement Analytics, Contract Awards Tendersinfo subscription can help you get access to a host of opportunities that can lead to the expansion of your business.

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SME Scenario in India

Posted on February 17, 2021 by Richa Roy

SME-in-India

Small and Medium Enterprises (SME) take up a significant portion of businesses in various countries and play a vital role in boosting the economic growth of a nation as it functional in creating job opportunities and develop products and services at a lower capital expenditure. Government procurement counts as the biggest source of acquisition in most countries. As development and growth are the significant drivers of government procurement it is pertinent that it offers an opportunity for SMEs to reach the extensive market and move towards feasible development.

The Small and Medium Enterprises (MSMEs) sector has shown a steady increase in the Indian economy with more than 6.8 million registered under Udyog Aadhar contributing to 40% in exports 95 % in industrial units while 45 % is in the manufacturing output supporting a good proportion of employment in the country. The pandemic situation has caused severe losses for various SMEs causing many to shut down. The 2020-21 budget has significantly highlighted several measures that are to be taken to ensure greater participation of SMEs in Government Procurement.

The Union Finance Minister has allocated Rs 15,700 crores to the ministry of MSME and made certain changes relating to the reduction of customs duty on semis, flat, long products of non-alloy, alloy, and stainless steels along with revocation of anti-dumping duty (ADD) and countervailing duty (CVD). Tax holidays and the Capital Gain exemption is given to startups have been extended by one year till 31st March 2022.

Modi government’s Aatmanirbhar Program has set down different points of interest that SMEs have available for the Indian economy in the coming years. To list down a few-

Indian MSME is projected to grow to the tune of 9.6 % ensuring economic stability in the country.

Increased participation of SMEs in government procurement paves way for innovation, technology upgrade, product development, etc in varied sectors.

With the scope of advantages, SMEs have for the improvement of the economy it’s about time they move in the right direction towards increasing their participation in Government procurement. Various challenges might hold you back from bidding for government tenders like the misconception of being too small, inability to meet eligibility criteria, or lack of experience. Tendersinfo are here to assist you with the right type of government tender information that suits the area of expertise while helping you crack the procedure for winning government bids. In India 7000 plus authorities release tenders regularly and an organization can’t keep track of every tender notice. At Tendersinfo we continuously update our Tender Library and send customized tender insights to our clients so that they do not miss out on any opportunity.

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