How to Win More Construction Contracts

The construction industry has always been fiercely competitive; however since the economic down turn hit it has become even more so. The economic slump has left all UK construction companies fighting over an ever decreasing amount of public sector work. In such tough economic times it’s important you know how best to win the public sector contracts that could make the difference between your company surviving and failing.Why target the public sector?Regularly winning public sector contracts will give a construction company a steady income and offers greater stability, especially as most contracts are often over a period of several years. The money for the contracts is reliable as you are not relying on other private companies (who may fail) but the government who are keen to offer prompt payment in order to get better deals for their contracts.Finding the workThere are several excellent government sources for public sector tenders; however for your business to get the most applicable business it is considered a must to sign up for a tender tracking system. These companies are first to hear about new public sector tenders and are able to deem work suitable to a construction company’s capabilities to the contract offered. Being a member of such an organisation will save a company hours of trawling through unsuitable tenders and will help a company to be more effective in its bids.Prepare for Pre qualification An important part of most construction contracts is the Pre qualification questionnaire; this is where a business will be required to enter applicable financial information, previous building experience and referrals. Companies should have all this information prepared and should always enquire if they have any queries regarding a specific area of the prequalification process.How to winEvery tender a company enters in for it will be facing tough competition from other companies; therefore to win the contract you must be the best. Follow these simple tips to ensure success against the competition -· Over deliver – If the tender asks for 5 referrals offer 10, providing details of your credentials is what makes the difference between you and the competition. This also goes for your finances the more years of successful operation you can show the more likely you are to win the lucrative contracts.· Target the scoring criteria – Each contract will have areas which certain companies will be able to target due to their expertise. Concentrate on focusing on areas that your company specialises in and emphasise your unique abilities that best suit the contract you’re bidding on.· Highlight your individuality – Many public sector contracts are keen to show improvements in policy related areas such as green issues, sustainability and equal opportunities. If your company can show how they are adhering to, or even industry leading, in any of these fields the more likely you are to beat the competition.