Business
Government procurements offer national entrepreneurs and businesses an excellent platform to compete, grow, and earn revenues. The Australian government procurement process is diverse and has something for everyone. To ensure both the national economy and private sector bloom equally, the government has revised its procurement policy many times.
On the other side, if your business has the potential to become a supplier to the government, you need to take care of a few things. In this article, we will discuss what government procurement is and how your business can benefit from it.
What are government procurements?
The Australian Government needs different services and equipment to meet its requirements. Accordingly, the government and its various departments purchase a variety of goods and services as per laid down procedures. It may include cleaning services, office equipment, project management, heavy machinery, and outsourcing of intellectuals and scientists.
Therefore, when government agencies purchase goods or hire services from a third party (or private market), it is called government procurement. The Department of Finance oversees the Australian government’s procurement activities, and commonwealth Procurement Rules govern it. Typically, the government adopts two types of procurement methods.
- Open Tender: In this type of tendering, the government invites all potential suppliers to fulfill its requirement. An open tender is advertised on AusTender, and all suppliers are given a fair chance to compete.
- Limited Tender: As the name suggests, limited tender is restricted to only suppliers invited to submit a response. Generally, this type of tendering is carried out for specific procurements or the procurement value exceeds $80 000.
As evident, businesses must monitor advertisements and notifications regarding government procurement to grab the best business opportunities. Fortunately, through Intermedium, you can access every vital insight about Australian government procurement, like expiring contracts, upcoming opportunities, government spending data, and competitor insights.
How can your business benefit from government procurement?
Small or large, government procurement is a great prospect for accelerating business growth and finding new opportunities. Moreover, with the revision in Indigenous Procurement Policy (IPP), indigenous Australians get more opportunities to participate in the economy.
Here are some ways your business can get benefitted from participating in government procurements:
Compete with large enterprises
Recent reforms in government procurements boost the nation’s small and medium businesses. Earlier, due to the high cost of entry, small-scale businesses feared participating in the particular tender. Now that some barriers have been removed, SMEs can easily participate and compete with large enterprises, which may not have otherwise been possible before.
When you compete with large businesses, your confidence and operation grow accordingly.
Find new business opportunities.
If you have the potential, government procurement is the right place to explore new business opportunities. All you have to do is register your business on AusTender, which is the Australian government procurement information system. Then, according to your profile, the portal will automatically match your business opportunities.
Further, you will receive an email about the tender and a further course of action. Also, you can search and participate in a variety of open tenders. Finding new business opportunities has never been easier.
Get a fair competition.
The Australian Government procurement process is fair and non-discriminatory. It offers a similar platform for every business to compete. Moreover, every procurement process follows laid-down procedures. So you can compete in a fair and impartial environment.
Enhance your brand image
Doing business with the government is not only beneficial from a revenue point of view, but it also enhances your brand image. You can show your successful projects and services with the government as an achievement. Also, once you make your mark in this relationship, the chance of getting a new government contract increases in the future.
Opportunity to find new connections or business partners
Even if your business does not have the resources to satisfy the tender, you can submit a joint bid. You can form a consortium with other businesses to pool resources. In this process, you expand your business reach and make new connections in the industry. You get a chance to earn and learn simultaneously.
Conclusion
The Australian government’s modern, fair, and open procurement process benefits small and large businesses. As evident, your business can grow, compete, and make new networks by participating in government procurement. So, register your business on AusTender and keep looking for new business opportunities.
