Political change leads to economic change. Every election cycle sees new initiatives move to the forefront of the budget, as well as process changes that can lead to big opportunities. By being proactive about your capture management process and creating a repeatable ISO-like sales process, you can get your team ready for the changing landscape.
Here are a few predictions about what to expect over the next four years – and how to get ready to capitalize on the changes.
Military Spending Will Increase
President Trump’s plan for the military involves sweeping spending across all branches and within infrastructure. From training an additional 160,000 troops to investing in new ships and planes, potential spending could hit $1 trillion over the next 10 years. While the current president cannot serve for an entire decade, he can, for at least the next four years, propose budgets that will affect funding beyond his time in office.
Finalized Spending Dates Will Be Announced
Agencies often hoard budget dollars to help minimize disruption when a new fiscal year leads to holdups and budget disagreements. Some appropriations bills never get funded as Congress takes on the monumental task of balancing the American budget. This can lead to funding gaps and contracts that never finalize. With finalized spending dates announced, you’ll know when contracts will come through, so you don’t waste time on missed opportunities.
Look for Consolidated Task Orders
Another big change to anticipate is the way agencies handle task orders. Instead of thousands of small task orders, look for fewer, but substantially larger, task orders. Minimizing the number of task orders reduces the administrative burden. It can also be an opportunity in disguise. Many companies may not have the capacity to fill these larger task orders, making partnerships look more appealing.
Increased Small Business Set-Asides on the Horizon
The government has always made supporting small business a priority, with a certain number of contracts available only to small business providers. With the new administration, it is likely that there will be even more set-asides for small business than ever. President Trump pushed economic recovery as a major platform, and these set-asides are one way to make good on campaign promises.
Terror Is a Critical Government Concern
A strong stance on terror is another item that will trigger more spending. Illegal immigration became a major talking point during the election, and a critical part of the successful campaign. While many are doubtful about the likelihood of a literal wall along the U.S. border, there may well be a digital one in development.
Technologies like facial recognition software and more sensitive scanning technology, along with a larger presence at the border and additional checkpoints, are not impossible. Look for more contracts coming from the Department of Homeland Security to support these efforts, especially in the technology sector.
A lot of promises made during elections never materialize. The chronic issues facing the VA are an excellent example. VA Secretary McDonald faces calls for his resignation after an unfortunate comparison of VA wait times to waiting in line at Disney. The VA has consistently failed to address the lengthy delays that face veterans awaiting treatment, but in other areas, it has made tremendous strides forward, dramatically reducing the number of pending disability cases up for review.
As you wait to see the outcome of the latest VA issues, you’ll also get a chance to see how many other governmental promises come to fruition.