March 31, 2022 is the last day of the 2021-2022 fiscal year for all government agencies and some public school districts. The FY 2021/2022 budget had been set at just under $400 billion[i], it is unknown at this time what has actually been spent thus far but make note that most governments tend to go on a spending spree at the end of their fiscal year, so this is a great time to be on alert for last minute projects and solicitations from the federal government. And both the federal government and local government agencies are still actively seeking procurements specifically targeted to combat the pandemic and boost infrastructure.
If you are ready to find opportunities before the fiscal year ends, below are 5 important tips to help you find solicitations and to make sure you don’t miss out on any relevant opportunities for your business.
Tip #1: Subscribe to email alerts for new solicitations
If you do not want to miss out on any opportunities, the best way is to subscribe to receive email alerts. Whether it is from a tendering platform, like merx, or individual government agency sites. Keep in mind that not all agencies offer alerts and even if they do, the bids may not be relevant or you may not receive an alert for every bid they post, so it is recommended to opt-in to any type of alerts that a bidding platform offers to get up-to-date solicitations. As a registered supplier on merx you will receive email notifications for matching solicitations at no additional cost.
Tip #2: Utilize category codes to receive accurate matching solicitations
Depending on the tendering platform or agency site, the email notifications are usually generated by matching category codes. To make sure that our suppliers on merx receive matching opportunities, we utilize three different category code systems: the MERX Categories, Goods and Services Identification Number (GSIN), and United Nations Standard Products and Services Code (UNSPSC). If you are a registered supplier on merx, always check your existing category codes to see if any updates are needed, you can always do so by checking your organizations profile page.
To learn more about these category codes click here
Tip #3: Research government agencies or school districts nearby for new bids
If your business only serves in certain areas within a city or a province, it is a great idea to research the procurement sites of municipalities or school districts within your service location. For example, if you only serve within the province of Alberta, you can research for any open solicitations from the City of Calgary website, or the Town of Canmore procurement page.
The easiest way to find a solicitation by location is by signing up to a tendering platform, like merx where thousands of solicitations from all provinces are being published. You can easily filter all solicitations by location where you serve and focus on getting quality opportunities.
Tip #4: Make sure if you qualify, that your business is certified
Some government agencies (or a specific solicitation) require bidders to meet certain qualifications or have certifications before they can submit a bid. If your business qualifies for any certifications, it is best to make sure you did get your business certified and have these documents on hand. Certifications like small businesses, Woman-Owned Businesses, Veteran-Owned Business, or Minority-Owned Businesses have an advantage to some specific solicitations. Learn more about how to get your business certified.
Tip #5: Get seen by government buyers and other procurement agencies
If a government agency’s procurement website or a tendering platform have a vendor profile registration, it is best practice to register with your complete business information. Treat vendor profiles like a resume to impress the employer before seeing what you can do. If allowed, attach all certifications, business logos or sell-sheets to attract buyers with your complete profile. Filling out a complete vendor profile will show buyers that you are an interested supplier who wants to do business with the agency.
There are hundreds of public buying organizations who utilize merx to find suppliers for their procurement needs. Registered suppliers can advertise their vendor profile for the advantage of being seen by buyers. Suppliers with up-to-date vendor profiles have a higher chance of getting successful invites to bid on buyers’ solicitations.
Bonus tip: Prepare your business for upcoming opportunities for the next fiscal year
Although this article is about finding opportunities from the year-end government spending spree, we cannot ignore that the new fiscal year starts on April 1, 2022, which is approaching fast. And a new fiscal year means new budgets for procurement. The federal government unveiled in 2021 a budget more than a $100 billion in new spending to boost infrastructure and to help combat COVID-19 for the next 5 years.[ii] So be on the lookout for the vast number of new opportunities from the federal government in the upcoming years.
The 5 tips above can still be applied on any tendering no matter when or what procurement agency you are interested in doing business with. Also, signing up to a tendering platform, like merx, can help you find solicitations from thousands of public and private agencies, and receive matching opportunity alerts more easily and efficiently.
[i] Government of Canada. Infographic for Government of Canada. tbs-sct.gc.ca.
[ii] CTV News. Budget 2021: Government unveils $101.4B in new spending, with deficit declining. ctvnews.ca. 19 April 21
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