Following the pandemic, President Biden and Congress are currently negotiating the potential of a $1.9 trillion infrastructure plan. The final number may change, but the 2021 stimulus package will likely include billions of dollars dedicated to the public sector (state and local governments) over the next several years. Vendors who are eager for the surge in government projects need to start planning now.
What sectors are likely to see the 2021 stimulus package through the infrastructure plan?
State and city governments have been hit hard by the pandemic at every turn. Almost every type of project from construction, technology, security, insurance, cleaning, and beyond is going to see some injection of federal aid or funding. We can anticipate the 2021 infrastructure bill will also include green initiatives, as the current administration made it clear that climate change remains a priority. Money will flow into various departments which will be used not only to cover operation costs over the last year but also for overall improvements.
Three things vendors should do
- Identify a procurement platform that auto-sends bid notifications. One of the best ways to learn about new RFPs and find more is through an eBidding platform. eBidding is the process through which government agencies post their RFPs online, and receive vendor bids through the eBidding portal. Making the process digital the exchange between government procurement agent and the vendor easier, keeping both parties in direct communication. If they haven’t already, vendors should create eBidding accounts and sign up for notifications of projects that match their business goods and services. That way they’ll receive alerts right to their inbox for every opportunity.
- Extend your network. Vendors should also continue to network whenever possible. It might be hard during the pandemic to stop by your favorite procurement agent’s office, but you can still participate in virtual networking. See which projects your existing partners are working on and send follow-up emails or connect. With DemandStar, you’re able to track government projects at the county, state, and national level in order to share work with your community and assist anyway you can. Staying digitally connected to your government procurement contacts keeps you top of mind as funds from the infrastructure plan are distributed.
- Compete strategically with more information. Finally, vendors should use all tools at their disposal to learn about the competitive landscape. Look for an eBidding platform that offers competitive information. With DemandStar, vendors can see which other businesses have reviewed or bid on various projects. This information can help you investigate and develop the most competitive bid, and gives you a leg up for finding less competitive jobs.
The 2021 stimulus package is coming and if you want to be ready, you need to start preparing now. That means identifying potential partners and allies, building relationships with them, and extending your network. It also means looking into procurement platforms, like DemandStar, that will automatically send bid notifications so you can compete strategically with more information. By starting now, you’ll be ahead of the competition when the time comes for government contracts.