The Small Business Administration just published a final rule to modify its method for calculating annual revenues used to prescribe size standards for small businesses. The final rule is effective Jan. 6, 2020.
In order to sell your products or services to the government, you need to register your business with the federal government’s SAM, the primary database of vendors doing business with federal agencies. Steps to have a SAM account.
Registering with the System of Award Management (SAM) is sometimes referred to as “self-certifying” your small business. Federal Acquisitions Regulations (FAR) require all prospective vendors to be registered in this system prior to the award of a contract, basic agreement, basic ordering agreement, or blanket purchase agreement.
The SAM registration is free and will be valid for one year from the date the registration is complete. SAM renewals are valid one year from the previous expiration date. It is highly suggested to renew the registration early to prevent any contract award or payment issues.
When using SAM, you will be able to register your business size and socio-economic status while completing the required solicitation clauses and certification. By completing your required solicitation clauses and certifications you certify that the information provided about your company is correct.
This system is also a marketing tool for businesses, since it allows federal agencies and contractors to search for your company based on your ability, size, location, experience, ownership, and more. SAM also informs searchers of firms certified by the Small Business Administration (SBA) under the 8(a) Development and HUBZone Programs.
Creating a SAM account as a new user
To create a SAM account as a new user, go to sam.gov and then follow the steps as indicated. Keep in mind that you now need a login.gov account to sign in to SAM. SAM is using login.gov to allow you to sign in to your account safely and securely. Once you have a login.gov account, you will be able to create your SAM account and receive an email confirmation.
Registering in SAM as an entity
To register in SAM as an entity, login to SAM with your user ID and password, and then follow the steps as indicated. It is estimated that it will take approximately 45 minutes to complete registration if you already have all the necessary information on hand. You will receive a “congratulations message” from SAM.gov after registration has been successfully submitted and an email confirming that your registration is in process.
New registrations can take an average of 7-10 business days to process. SAM must send out some information for validation with outside parties before your registration can be activated. If you notice your registration has had a ‘Submitted’ status for longer than 10 business days, and you have not otherwise been contacted to correct or update information, please contact the Federal Service Desk at 866-606-8220 or https://www.fsd.gov.
Contact Rafael Marrero & Company today to learn more on how to register with SAM and find out how your firm can successfully enter the federal marketplace.
Call 1-888-595-6221 for a free consultation or email email@example.com.