The fiscal year (FY) for the United States federal government in 2024 ends on September 30, 2024, and FY 2025 starts on October 1, 2024

The fiscal year (FY) for the United States federal government in 2024 ends on September 30, 2024, and FY 2025 starts on October 1, 2024. This period is a critical opportunity to secure government contracts for small businesses, particularly those in the SBA 8(a) program. Many agencies push to utilize remaining funds as the fiscal year ends, increasing spending. By analyzing the spending patterns and trends in FY 2024, businesses can better understand which areas and services are in demand and prepare their strategy for FY 2025. Using platforms like USAspending.gov to track these trends will provide valuable insights for identifying opportunities.

Additionally, as the new fiscal year begins, many contracts are set to expire, creating recompete opportunities for small businesses. Businesses can identify relevant opportunities by monitoring expiring contracts through the Federal Procurement Data System (FPDS) and SAM.gov. Establishing early relationships with Contracting Officers (COs) overseeing those contracts can provide a competitive edge in securing those deals.

Building solid relationships with government agency representatives is crucial to positioning yourself for upcoming opportunities. Attending industry days, federal contracting events, and matchmaking sessions offers the chance to engage directly with procurement officials. Agencies are incentivized to meet their small business contracting goals, and making your capabilities known can make sure you are considered for future contracts.

It is essential to have an updated and tailored capability statement that reflects your company’s strengths and relevant experience with federal contracts. This document should highlight your SBA 8(a) certification, NAICS codes, and past performance and be customized to align with the needs of the agencies you’re targeting.

With the start of FY 2025, small business set-aside contracts become a significant opportunity. Agencies must allocate some of their contracts to small businesses, including those in the 8(a) program. By monitoring platforms like SAM.gov, you can quickly identify these set-aside opportunities and submit proposals.

Teaming and subcontracting are also viable strategies for businesses that may need more time to be ready to prime a contract. Many larger contractors seek small business partners to meet their participation goals. By engaging in these partnerships, 8(a) firms can gain experience, increase visibility, and build a track record in the federal marketplace.

I want you to know that maintaining your current certifications is crucial for remaining eligible for 8(a) opportunities. Maintaining compliance with SBA requirements, including completing annual reviews, is essential. I'm reviewing your certification status to ensure you can take advantage of opportunities.

Lastly, as the fiscal year transitions, the start of FY 2025 might see a slower pace in government spending while budgets are reviewed. You can use this time to strengthen your internal processes, refine proposal strategies, and continue networking with agency officials, positioning yourself for success when spending picks up in the following quarters.

Staying proactive, monitoring opportunities, and maintaining solid relationships with key government officials, 8(a) businesses can capitalize on the transition from FY 2024 to FY 2025 to secure contracts and grow their federal business presence.

Imran Siddiqui MS.MBA.PMP.Azure Solution Certified.CMS

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