The Year of the Rabbit is here; 2023 is now upon us. With a little luck and a lot of hard work, you can make this the best year for your budding government contracting business. For a little fun, here are some New Years’ resolutions you can choose to do this new year.

Expand your government contracting business.  This could be the year you enter a new market, service, or product. Make sure to do proper research for any additional certifications. Try finding a product or service that’s adjacent to what you currently do. Don’t forget to find new partners.

Improve your business prowess. Implement better and more efficient processes, streamline communications, or adopt new technology to enhance productivity. Don’t forget to prepare your system for security challenges in the future.

Get on the sustainability bus. The government has now implemented greater measures for sustainability, which means they will prefer to work with companies with the same goals. Consider how your business can operate in a more environmentally-friendly and sustainable manner. Reduce waste and energy consumption, and offer products and services that are sustainable.

Augment your professional abilities and development. It’s never too late to invest in your own professional development. Gain more skills and take new courses of learning. Focus on those that present you with additional certifications to increase your expertise in your field. You’ll stay current and keep competitive with other contractors in the field.

Make a wider, stronger network. Building strong relationships with your clients is key to long-term success. Consider ways to improve communication and collaboration with your clients and be responsive to their needs and concerns. 

Stay current with industry news and trends. Keeping up with industry trends can help you stay competitive and identify new opportunities for your business. Make a commitment to educating yourself on the latest developments in your field regularly.

Subcontractor no more. It may be time to make the jump. If you believe you’ve done your due diligence and learned everything from your Prime contractor, take the plunge and find your very own government contract.

Remember to set specific, achievable goals for yourself and regularly review your progress to stay on track with your resolution. With dedication and hard work, you can make a successful and impactful New Year for your government contracting business. Remember, if you want to keep your focus on your niche, let us take care of the added hardship that government contract accounting brings. Peter Witts CPA is here to help you celebrate a new year in government contracting.