5 ways for disadvantaged business enterprises to strengthen bid

_DSC0126-Edit (2)As the revitalization across the Metro Detroit area continues, more opportunity
for Disadvantage Business Enterprises (DBE) rises.  When construction and design projects are federally funded, programs are put in place to ensure that
businesses owned by minorities, women, and other socially and economically disadvantaged individuals can fairly compete.
15-year veteran and construction consultant, Terrence Hicks of Metro Strategies, Inc has provided 5 ways for a DBE firm to strengthen its position when bidding on jobs.

  • Partnerships. When firms create a joint venture with other firms that conduct the same kind of work it could increase the chance of securing the bid on \larger projects.
  • Bid Small. Bidding on smaller jobs to build the infrastructure for larger ones would not only increase the chances of you winning the bid but would help build the company’s portfolio.
  • Share the Information. Form a consortium of firms that seeks to foster communication when jobs become available. It is important to find out about all potential opportunities available. Sharing information gives each firm a fair chance to bid and possibly collaborate.
  • Broaden your Approach. It’s important to extend your approach to available contracts in the contract-granting world. For instance, if you have concrete and/or trucking as your main genre of work.  You should look at what private institutions have to offer and how you can get on their bid lists; Henry Ford Health System, Wayne State University, city of Detroit and other municipalities, MITN.
  • Bid Smart. The single most important aspect of preparing to bid on projects is to find an experienced estimator. You might even share an estimator with another company for an agreed upon cost.  Estimating a project or determining how much supply you need, gas for your equipment, insurance to cover the project, salaries for the workers, union dues and the most important, your profit margin and/or mark up.

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