The landscape of government contracts and grants is evolving, with significant trends shaping how businesses access these opportunities. Here are some of the top trends in 2024 that SMEs should be aware of to stay competitive:
- Increased Digitization – Government agencies are accelerating their digital transformation, making contracting processes more streamlined and accessible online. This trend is helping remove barriers for SMEs.
- Emphasis on AI and Automation – AI-powered solutions are becoming integral for both government agencies and suppliers. AI in procurement simplifies compliance, decision-making, and matching, making tools like FelixFusion essential for success.
- Inclusivity for SMEs – Governments are prioritizing contracts with SMEs to promote economic growth. This means more tailored opportunities specifically for smaller businesses, giving them an edge in the bidding process.
- Global Opportunities Expansion – With an increase in cross-border contracts and grants, SMEs can explore government opportunities not only domestically but internationally. FelixFusion’s Opportunity Explorer facilitates this by connecting SMEs with tenders across multiple countries.
By staying informed on these trends and leveraging AI-driven solutions like FelixFusion, SMEs can position themselves to capitalize on new opportunities and thrive in the evolving government contracting space.