Small businesses seeking major corporate or government contracts must assess their procurement readiness. This evaluation begins before a bid is released and involves more than just price and capability. Procurement teams consider factors such as a supplier's ability to meet requirements, manage risk, and maintain appropriate insurance and financial capacity.

Business owners should consider whether their company could deliver consistently if a contract were awarded immediately. Several areas require attention for businesses pursuing larger opportunities, including knowing their capacity.

Further details on procurement readiness and preparing for major contracts are available, outlining the key considerations for businesses to ensure they are truly ready to perform the work.