Thriving in Uncertain Economic Times: How Doing Business with the Government Can Help

As inflation rises and consumer spending slides, many businesses are fearful of a rocky road ahead. Even private sector giants like Walmart and Amazon are experiencing turbulence, with recent forecasts pointing to decreased profits and triggering mass layoffs as a result.

If your business is feeling the squeeze, you’re certainly not alone. The good news? Finding new avenues for growth may be easier than you think—and government contracts are a smart place to start.

In spite of rising inflation and signs of a looming recession, the number of government projects in 2022 actually increased 28% over the previous year, according to recent Bonfire data. That’s all thanks to an influx of federal funding designed to fuel new infrastructure projects and help communities bounce back from the pandemic.

The government project pipeline

Against a backdrop of economic uncertainty, organizations of all sizes, from multinational corporations to small mom-and-pop shops, have realized the value of partnering with government agencies to level-up their business.

Government partnerships offer significant protection through market instability for the simple reason that so many public sector services are critical to keeping our communities functioning. That means government business is—to a certain extent—recession-proof, making it a smart strategy for growth, even when the market dips.

Sound like a plan you can get behind? In this blog post, we’re breaking down the quickest route for you to find, bid on, and win government business. 

3 steps to finding and bidding on government projects

If you’re new to the world of government procurement, the prospect of tapping into a lucrative stream of new business is exciting. But that doesn’t make the process of finding and bidding on government opportunities feel any less daunting. Thankfully, Bonfire makes the process of finding and bidding on government business quick and easy.

There are hundreds of public sector agencies at the federal, state, provincial, and local levels. And across those agencies, there are thousands of open RFPs for projects in dozens of different sectors. It’s not feasible for your team to spend hours every week searching the web for relevant opportunities. So what’s the best way forward?

With Bonfire Premium Vendor, getting in on the action and winning government business is easier than you think. Here’s how it works in three straightforward steps:

1. Set up your Bonfire Premium Vendor account

First things first, you’ll want to create a Bonfire Premium Vendor account. In just a few clicks, you’ll be ready to start finding bids tailored to your business. Just enter the keywords that matter to you, select the geographical region in which your business can operate, and browse through your bid matches to find suitable bid opportunities at every level of government.

2. Find and follow projects that suit your business

When you find a project that looks promising, you can easily read the bid requirements and download any necessary documents right from Bonfire. You can also follow the opportunity to get notifications and alerts related to requirements and deadlines, so you stay on track with your bid submission and never miss a beat.

3. Prepare and submit your bid

With every bid document you need available in Bonfire, it’s easy to prepare a bid submission that checks off all the boxes. Upload your completed bid submission directly in Premium Vendor. Once it’s in, you’ll receive an electronic receipt confirming your submission.

That’s it! Three easy steps to winning more government business.

Ready to win?

In today’s challenging economic environment, it’s not easy to run a business, let alone drive growth. But government partnerships offer a promising solution for riding out the turbulence—and thriving in spite of it.

If you want to start finding, bidding on, and winning more government work, we’re here to help you reach your goals. Subscribe to Bonfire Premium Vendor and discover the next game-changing opportunity for your business.

With all the tools available inside our user-friendly platform, you won’t have any trouble learning the ropes. But if you ever get stuck, our extensive Vendor Knowledge Base is available 24/7 and our legendary customer support team is just a phone call away.