80% of government tenders go to SMEs
For SMEs looking to secure larger-scale and notable projects to boost their business reputation and expand their portfolio, GeBIZ opens up a new world of possibilities. From construction to educational workshops, the platform gives SMEs of various industries plenty of opportunities to offer their goods and services to government organisations ranging from specific departments to even an entire educational institution.
Notable past projects awarded to SMEs include F&B catering for NDP 2017 and designing promotional collateral for the Formula 1 race. Here are 5 tips to up your chances of making that GeBIZ bid a successful one:
1. Know your facts
GeBIZ is an online portal that allows businesses to search and bid for relevant government projects.
Many businesses are apprehensive about participating due to a lack of information and fear of complexities on the selection process. Common misconceptions include the false idea that SMEs are at a disadvantage, as they have to compete with larger businesses for government tenders.
In reality, 80% of all government contracts go to SMEsi , making GeBIZ a rich source of opportunity for small businesses.
2. Be prepared
All businesses must register themselves as GeBIZ trading partners before they are eligible to respond to tenders and Invitations-To-Quote (ITQ). You also need to appoint an Authorised Representative (AR)ii who will represent your business in the transactions.
The first step of the two-stage tender process requires you to submit a qualificationiii document stating your experience and capability to fulfil the requirements of the project. Browse through the project’s deliverables - time frame, quantity and technical specifications - to ensure that your business can execute and deliver the project successfully and timely.
The reviewing team will then assess your ability to take on the project and only upon approval will you be allowed to submit a tender proposal in the subsequent stage.
3. Raise your business profile
GeBIZ isn’t just for finding businesses opportunities but creating your own too.
The GeBIZ mall feature allows your business to publish up to 10 goods and services listings for freeiv, allowing government agencies to locate you based on their needs. Take full advantage of the ‘What Buyers Want’ categoryv, which lists the most popular search terms, so you can boost your chances of being found by applying the right keywords.
4. Consider collaborating
You don’t have to take on the hefty task alone. If you come across a project that allows for attractive growth opportunities but is concerned about a lack of resources, GeBIZ gives you the option to partner up with other companies to form a ‘consortium’, so that you can tap on one another’s expertise to deliver the project successfully.
When you submit a bid, your new consortium will be evaluated “based on its combined financial health, i.e. the annual turnover or revenue of its members,”vi allowing the co-innovators and yourself to aggregate all resources for a higher chance at winning that tender.
5. Stay updated
Currently, GeBIZ has over 1000 active tenders for businesses to bid, with new projects listed every day. You can forgo the tedious process of manually checking for updates with the SME Portal’s GeBIZ alert. The email service keeps businesses updated daily on the latest opportunities, according to their preferences and notification settings.
Alternatively, you can subscribe to the GeBIZ website’s RSS feed for regular updates on new opportunities and award information.
Working on government projects not only increases your business revenue, but offers you the opportunity to network, gain experience and forge strong connections with reputable clients. In addition, SMEs can get a leg up in clinching that public tender through Gov-PACT, which “provides grants to SMEs and start-ups to collaborate with and undertake projects initiated by government agencies.”vii