Getting Ready for the End of the Year - What can You be doing?

As the calendar year comes to a close, small business government contractors can take advantage of various opportunities to optimize their business operations and finances. Here are some activities that you may consider:

1. Review your financial statements: Analyze your financial statements to identify areas of improvement and make necessary adjustments. This will help you to make informed decisions and plan for the future.
2. Maximize tax deductions: Take advantage of tax deductions that are available to small businesses. For example, you can deduct expenses related to business travel, office supplies, and equipment purchases.
3. Participate in government contracting awards: The U.S. Small Business Administration (SBA) offers various awards to small businesses that have provided the government with outstanding goods and services as prime contractors or subcontractors. You can check the eligibility criteria and nomination instructions for the Federal Procurement Awards given out during National Small Business Week ¹.
4. Stay up-to-date with government contracting news: Keep yourself informed about the latest news and updates related to government contracting. This will help you to stay ahead of the competition and identify new opportunities.
5. Network with other small business contractors: Attend networking events and conferences to connect with other small business contractors. This will help you to build relationships and find new business opportunities.