The $6 billion market waiting for SMBs
July 1, 2022. Mark this date on your calendar.
Not because it welcomes the beginning of a new FY. Not because it heralds the 43rd anniversary of Sony introducing the famous Walkman to the world (it’s been that long?!).
No – on July 1, 2022, the Queensland Government officially adopts a procurement policy which demands that 30% of every product and service they buy, must be delivered by our small business community.
This equates to roughly a $6 billion market, and by far the largest market SMBs have ever had available to them.
Some smart and government-engaged SMBs will grow exponentially as they tap into lucrative government revenue streams. Sadly, most will watch this ship sail by, oblivious to the fact that they could and should be supplying government because their business is absolutely government ready.
They just don’t know it. They’re unaware that they have the skillsets. They have the track record. They have the partners in place. They’re unquestionably a very attractive partner for government to purchase from.
Perception is reality, though, right?
If you don’t believe you have the capability to win government business, then obviously you won’t. You’ll continue to grind away in your ‘safe place’, some months making a good profit, others not so. You’ll continue to be buffered by external forces out of your control, wreaking havoc on your bottom line. Like Lemmings, you’ll continue marching to the same monotonous tune, day in, day out.
The result? You’ll miss out on the biggest market ever presented to SMBs. A market that can transform their businesses virtually overnight. A market which can provide a safe revenue haven when pandemics strike and the world shuts down.
A $6 billion market.
Thousands of SMBs are already more than capable of supplying government. Many are close, and with a little bit of work they to can begin to fulfil government contracts.
What do both SMB groups have in common? They have no idea if their business is ready to find and win government business.
July 1st will be here before you know it. Make the leap.
Tom Pollock