How to Recession-Proof Your Business Through Government Tenders

How to Recession-Proof Your Business Through Government Tenders

Public sector procurement offers small and medium-sized enterprises (SMEs) numerous opportunities to secure stable and sustainable revenue streams. However, SMEs struggle to navigate the procurement process without knowledge of tendering for public sector contracts. Knowing everything there is to know about procurement can help you recession-proof your business to avoid costly mistakes and remain resilient during challenging economic times.

Business owners seeking sustainable revenue streams can look no further than this article. Here, we’ll break down everything to know about recession-proofing your business with government tenders, including the different types of public sector tenders and how to leverage opportunities presented by public sector procurement.

What are the Types of Tendering UK Public Sector SMEs Can Consider?

The UK public sector includes various types of tendering. UK public sector SMEs can consider some of the following procurement procedures as they decide the best tendering strategy for their organisation:

  • Open tendering procedure: the open tendering process requires all interested parties to provide tenders by a specified deadline. These tenders are analysed, and the winning bidder or bidders are awarded contracts. Open tendering is commonly used for local government tenders.
  • Restricted tendering procedure: the second type of tendering in the UK public sector is the restricted procedure, a two-stage process that begins with a selection stage. This stage involves a pre-qualification questionnaire (PQQ) to help buyers identify potential suppliers. After the PQQ, selected suppliers receive an invitation to tender (ITT). These tenders are evaluated, and contracts are awarded to selected suppliers.
  • Competitive dialogue procedure: finally, a common type of tendering in the UK public sector is the competitive dialogue procedure, used for complex procurements and adhering to the OJEU Contract Notice. Once the contract notice and selection process is complete, the authority negotiates with organisations to create a solution inviting specific companies to tender.

How Can the Public Sector Help Recession-Proof My Business?

Businesses often consider recession-proofing themselves by using solutions offered by public sector procurement. Before determining how tendering for public sector contracts can help your organisation thrive, you must understand what it means for a company to be recession-proof.

A recession-proof business is an organisation that is well-equipped to overcome challenges presented by recession periods. Given the unpredictability of recessions and the severity of the UK’s most recent recession, a recession-proof business is a viable option to endure economic hardships.

These businesses are prepared to navigate revenue downturns and can withstand economic struggles more than businesses vulnerable to recession. Though a recession-proof business can’t guarantee financial stability forever, it significantly increases your security and protects you from significant financial losses if another recession occurs.

Tapping into the Public Sector With Public Sector Procurement

A sustainable revenue stream in economic downturns is crucial to your organisation’s longevity. SMEs can tap into the possibilities offered within the public sector by bidding on government tenders and getting involved in procurement.

But how can you stay on top of the procurement process to ensure you tap into the public sector at the right moment? Here are some ways to access the plentiful opportunities offered through public sector procurement and recession-proof your business.

Identify Promising Tenders

Not all tenders should receive the same attention–you should always prioritise the ones that seem most promising and suitable to your organisation’s offers. Identifying promising tenders requires access to many tendering opportunities and online resources like government tender portals.

For example, SMEs can tap into the public sector and identify suitable tendering options by considering the various contract opportunities accessible through Supply2Gov.

Creating a Strong Bid

Tendering for public sector contracts is an incredibly competitive landscape. Your bid on a tender doesn’t need to be good–it needs to be outstanding. A strong bid can separate you from the competition, even if you offer the same goods for the same price and quality.

Remember the following when creating your bid for a tender:

  • Follow the instructions carefully for each tender document–don’t assume that different tender documents follow the same structure.
  • Demonstrate how you meet the specific criteria of the tender by highlighting your unique skills and qualifications. Include unique selling points that other bidders won’t have.
  • Provide references to prove your success with similar projects.
  • Price your offerings competitively to deliver high-quality work comparable to your competitors.
  • Tailor every bid to the specific tender document and a client’s needs rather than submitting a generic bid every time

Prioritise Continuous Improvement

No matter what, there’s always room for growth and improvement in your business, and prioritising continuous improvement allows your organisation to adapt and become more appealing to tenderers. Continuous improvement involves numerous strategies for an organisation to boost its performance capabilities, including investing in training and onboarding, monitoring performance metrics, and adapting new technologies to remain competitive in the marketplace.

Sign Up for Free Public Sector Tender Alerts

Many modern services are available for SMEs in the UK to access free public sector tender alerts. These alerts provide SMEs with timely notifications of suitable tender opportunities to quickly identify your company’s best chances for success with a government contract.

These platforms alert all tenders, including generic and local government tenders. For example, services like Supply2Gov provide a database of relevant tendering opportunities to quickly find contracts within your sector and win against the competition.

Choose Supply2Gov for All of Your Procurement Needs

Keeping your business recession-proof is possible when you tap into the numerous opportunities public sector procurement presents. Ensuring that your business remains resilient and profitable in economic crises is crucial to secure stable and sustainable revenue streams. Platforms like Supply2Gov can provide organisations with the tools to master the procurement process and win public sector contracts.

Supply2Gov is dedicated to helping businesses find and win contracts, regardless of size or reach. The advanced services from Supply2Gov deliver precision public sector contracts while opening the door to exclusive supply chain opportunities. Getting started with Supply2Gov is easy. Register for free today to discover how Supply2Gov can help your organisation prosper now and in the future, no matter what economic challenges may come.