July 25, 2017
Contractors Are Confident Amid Uncertain Political Environment
Source: Route Fifty, Paul Irby, July 11, 2017
Businesses that sell to government are bullish—buoyed by an uptick in voter-approved infrastructure spending, as well as an increase in bids and RFPs.
These days, change and uncertainty seem to be the one constant in the world of government and business. As we move into the middle of the year, it’s hard not to be affected by the constant reminders of risk and uncertainty all around us with a slow-growing economy, political gridlock, skepticism in government and heightened tensions around the world. But as we measured the collective “mood” of government contractors in our recent survey of contractor sales expectations, a very different perspective emerged. Contractors, vendors and suppliers are betting that the economy will continue to grow, agency budgets and spending will continue to improve, and that the “wait and see” type of caution that characterized many government contracting decisions prior to the November elections will transition to an “invest and grow” mentality in vital areas like infrastructure and technology. In short, rather than limping along in a defensive posture, the government contracting marketplace is expected to be on its front foot in the coming year – a bright spot on the landscape.
Contractor Survey Results
A total of 424 companies participated in this year’s survey and their responses revealed a finding that some might consider surprising. Businesses that sell to the government were generally upbeat about their prospects for growth in revenue from the public sector, and their sentiment had actually grown more bullish since last year rather than less. READ MORE….
Contact your nearest PTAC to learn about government contracting.
For help with Government Contracting: contact your nearest Procurement Technical Assistance Center (PTAC). Funded through Cooperative Agreements between the U.S. Department of Defense and state and local governments/institutions, PTACs provide free and low-cost assistance in virtually all areas of government contracting.