MSMEs are you lifting your business orders with government tenders?
Do you want to know how and where you can get all the support & right information on tender notices, tender documents, eligibility criterias, bidding strategy & process and that too at the right time? You are at the right place. In this blog, we have covered it all.
Follow MSME TALK podcast, where we bring experts from the Industry to give value addition guidance, to scaleup and build long lasting business)
Tenders are competitive bidding processes where organisations, including mostly governments and sometimes private companies, request proposals from vendors for specific goods or services.
Small Businesses lack information about availability of tenders, companies which float tenders, what’s required and expected out of them when participating in government tenders , how to be a successful bidder etc .
(As an MSME, do you think your business is too small to participate in tenders/ e tenders? Then, you must listen to MSME TALK’s exclusive Episode, Ep- 24 Bid Assist Ft. Nitin Jain, Co-Founder OfBusiness)
Participating in tender processes can be a great way for MSMEs to secure new business opportunities and grow their business. However, it is important for MSMEs to be well-prepared and competitive in their bids to succeed in this competitive environment.
To participate in tender processes, businesses need to follow certain steps:
- Search tenders for their businesses: Listen to episode Ep- 24 Bid Assist, where this is made easy.
- Register with relevant tendering authorities and Identify suitable tenders: SMEs should identify the tenders that match their expertise, experience, and capacity.
(Do you think that searching hundreds of websites daily to find tenders for your company is kind of impossible? Then listen to MSME TALK’s exclusive Episode, Ep- 24 Bid Assist)
- Prepare and submit their bids: MSMEs need to prepare and submit their bids to the tendering authority. This may involve completing a proposal document, providing evidence of their financial stability, and demonstrating their technical capability to deliver the project or service. This can be the heavy task for SMEs or MSMEs and here the help of experts is required. They can take help from a business consultant for the same .You can also explore the alternative option as mentioned in the episode.
- Attend pre-bid meetings: MSMEs can attend pre-bid meetings to gain more information about the tender process and clarify any questions they may have.
- Be competitive: MSMEs need to be competitive in their bids to increase their chances of winning the contract. They should ensure that their pricing is competitive and that they highlight their unique selling points.
While government tenders can provide small businesses with valuable opportunities to secure contracts and gain access to new markets, there are also several flaws that can make it difficult for these businesses to compete.
(Indian Government has come up with various steps to promote MSMEs and startups in Budget 2023. To know all about it, Listen to MSME TALK Ep-23 India Budget 2023)
One of the main flaws is the complexity of the tendering process. Government tenders often involve complex paperwork and detailed proposals, which can be time-consuming and costly for small businesses to prepare.
Also, Considering the limited resources, MSMEs specially face a lot of difficulties while searching for the right kind of Government tenders that they could have served, provided they had the information on time.
Tender discovery has always been a tedious task.
This significantly impacts MSMEs growth potential, despite available capacity and supportive policy framework.
If you wish some reliable & professional help would have been there to get you through the tender process , based on your business profile, then listen to MSME TALK’s exclusive Episode, Ep- 24 Bid Assist that enables you to search tenders easily like google.
Tenders can provide MSMEs with a valuable source of new business opportunities, help to level the playing field for smaller vendors, and provide opportunities for professional development.
MSME TALK Podcast’s Brand Bite series talks about the offerings of the Company/Expert with MSME, Startup, B2B focus. Reach at connect@msmetalk.com to showcase your product or service.
MSME TALK Podcast has been in Top ranking Charts in Entrepreneur & Business Category in various countries like India, Saudi Arabia, Malaysia, Canada, Italy, Denmark, Finland, UAE, Kuwait ,Jordan etc.
If you want to know how and where you can get all the support & right information on tender notices, tender documents, eligibility criterias, bidding strategy & process and that too at the right time, listen to MSME TALK’s exclusive Episode, Ep- 24 Bid Assist.
(Follow MSME TALK podcast, where we bring experts from the Industry to give value addition guidance, to scaleup and build long lasting business)