The fourth quarter of the federal fiscal year (July-September) is an important time for government contractors. As I typically do each summer, I would like to take this opportunity to remind you why paying attention in the fourth quarter can be important to your business.
We are already in the beginning of August, the mid-point of the "last quarter", and there are only a few weeks until the U.S. Government's fiscal year ends. Contracting officers are moving at a faster pace to ensure they spend all the allocated appropriated federal dollars in their budget to meet their small business contract spending goals for the year. Federal agencies usually increase much of their contract spending in the "last quarter" of the federal fiscal year (July/August/September). According to Bloomberg Government, since 2009 federal agencies have spent an average of 32 percent of their annual contract dollars in the "last quarter," and in 2014 agencies obligated $142 billion in contracts during the "last quarter". Business leaders should be taking advantage of this opportunity, as you probably have seen an increase in "Sources Sought".
The PTAC team of professional counselors encourages you to respond throughout the year to "Sources Sought," but be extremely vigilant during the fourth quarter in responding to the requesting federal agency. If you need another set of eyes to review a proposal, please contact your local PTAC counselor. This is the busiest time of the contracting year, "The Last Quarter"; use it to your advantage.