Is a GSA Schedule right for me?

This is an important question to consider when mulling over the pros and cons of a GSA Schedule- as not every single company can benefit from having one. First things first- you have to be in business for at least two years, prior to applying for a GSA Schedule which can be a roadblock to some new companies itching to get their hands on these government opportunities.

It is beneficial to take a hard look at your company’s financials and accounting system. GSA will be specifically reviewing your Profit/Loss and Balance sheets for the past two years. The contracting officer wants to feel confident that your company is in a healthy financial situation—more money coming in than is going out. If you have negative financials, it isn’t game over by any means. You can still apply for a GSA contract,  you will just have to provide a substantial reason for the negative balance.

 In regards to your accounting system GSA expects a certain caliber of software to be used by a company to maintain their GSA contract. Quickbooks is a commonly used software that GSA accepts though you may opt to utilize a different one it just must be of a similar caliber. Remember, you are trying to prove to the government that you are responsible in all areas of your business, and financials are a great indicator to the health of your company. It is also a good idea to have one person in your company designated as the liaison between GSA and your business, to carry out contract maintenance, or any immediate correspondence with the government. Make sure you can dedicate some manpower to your GSA Schedule, as you will have to put in some legwork once it’s awarded to start winning all those government contracts! Alternatively, you could also draw up an arrangement with a consultant to help you maintain and utilize your contract to its fullest potential.

 I also recommend pulling some market research for your industry- is there money moving through the SIN(s) you want to pursue? Are other businesses akin to yours having success with their Schedule? Etc. If your company sells snow globes, for instance, there will probably not be a huge market amongst government buyers for your product. Elevate can pull and provide all of this information for you, and help work through these hard decisions with you. We will never recommend a GSA Schedule if we do not think your company will thrive with one. Acquiring a GSA Schedule is a big commitment for your business, and we understand that, and are here to help you every single (tedious, government, sometimes exhausting..) step of the way.

If you’re interested in some market research or if you’d like direct support from a GSA consultant to help with a specific project, reach out to us at info@elevategsa.com.

Lets work through the tough questions together!