How do I tender for new contracts?
There may be a number of public and private sector tender opportunities available that your enterprise could fulfil and deliver. The value of the contract will often dictate where the tender opportunity is advertised – some small value contracts are only advertised on the tender organisation’s website.
Contracts are intended to deliver a service within an agreed value and provide value for money. This does not mean the lowest value bid but includes additional benefits that may for example have a positive effect on the community – in other words, the social outcomes and impact. You should also give consideration to bidding for contracts jointly with other organisations where, in collaboration, you can provide a better, and perhaps more cost-effective delivery solution.
The tendering process can be time-consuming and you will need to consider if the time spent will be worthwhile and whether the contract is actually worth pursuing. You also need to consider the ‘opportunity lost cost’.…”If I spend x hours/days on pursuing this contract, what other opportunities could I be missing?”
And of course you will need to carefully consider how you actually fulfil the terms of the contract and remain profitable in the process, should you be successful in winning the tender. Also remember that, if you are successful in winning a contract, it will at some point come to an end with no guarantees that it will be renewed. Therefore you should continue to look for other contracts or ways to generate new income.
There are a number of ways you can search for contracts and our advisers are available to discuss these with you, as they are the tendering process.