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Small Businesses can Add to their Stability by Having a Contract with the Government

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Governments often sign contracts with business firms to purchase goods. And striking a deal with a government agency can really benefit a business manifold times. Small businesses that aim to grow seamlessly can grow their revenue and increase sales by winning government contracts.

Federal bids also add to their overall value and help small businesses secure their place in the market. But it is not the case to get a government contract as there is intense competition in the business world.

There are certain online platforms available for a business to get government contracts easily. For example, construction businesses in the US can get federal construction bids through xfactorgov.com.

XFactor allows individuals and businesses to identify potential market opportunities, partners, and contracts easily. It provides every possible information in one place to pave the path for a business to get government contracts.

Contracting local, state, or federal government agencies can help small businesses gain stability in the market. Usually, governments don’t change vendors frequently. Thus, it makes it easy for businesses to plan their long-term strategic planning.

Government contracts are often perceived as more stable and successful than other business opportunities. Thus, striking a government contract can help a small business gain value in the market. And it could help small businesses win new customers by building strong trust.

Governments usually pay their amounts on time. This helps businesses smoothly plan their finances and cash flow. However, small and medium businesses need to follow some tips to get government contracts for growing well.

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

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Business

Current challenges of Manufacturing in Mexico

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As per the World Trade Organization, Mexico is the 13th biggest exporter of goods and 12th biggest importer of goods globally. A sign of the amazing nature of the manufacturing industry in Mexico is the growth of the industrial labor force that has occurred during 2019. As per the National Institute of Geography and Statistics, the number of Mexicans hired in the industry was 2.5% more than previous years. Economists suggest that the manufacturing in Mexico depends on three major factors:

Manufacturing is diverse

Manufacturing industrial base is broad. Producers of the nation include small companies to big conglomerates such as top-notch pharmaceutical companies, world-class aerospace manufacturers and automotive assemblers and many more.

Also, the manufacturing industry in Mexico supplies domestic input to enhance its products. For instance, Mexico has homegrown cotton to support its textile companies, aluminum supply for its automotive industry usage, polyethylene for its plastic sector and sugar for companies that produce food and beverage products. Irrespective of the fact that use of domestic items is on rise, Mexico still has a long way to go to become self-sufficient and acquire control on its manufacturing processes.

Manufacturing in Mexico uses modern data technology

The launch of new technology is usually a troublesome element in the production sector. The launch of Industry 4.0 into major developed nations has created a lot of challenges for Mexico too.

The Industry 4.0 has made a lot of technologies which can be used in the manufacturing industry such as Internet of Things, Cloud Computing, Artificial Intelligence, Additive Manufacturing, Augmented Reality and more. Data intelligence is of great importance as it permits producers to get precise information pertaining to almost connection in the manufacturing chain to get operational intelligence.

Kimball Electronics in the Guanajuato region is a great example to enter the dominion of industry 4.0. It produces circuit boards and electronic parts and it has started testing data infrastructure on a real-time basis by using OSIsoft technologies to analyze failures and errors.

Using this tool in the manufacturing in Mexico has saved the company a lot of money and time and paved the way to use it at its other locations worldwide. More and more industries in Mexico are adopting new technologies. This is a major and necessary step for the companies that find it difficult to convert large data flows into essential, comprehensive, real-time information.

Manufacturing makes use of highly skilled human capital

INEGI stated that during April 2019, the value of Mexican exported merchandise was calculated $US 39 billion in products. This suggests the gigantic value of products produced by the expert Mexican labor force.

In order to meet the demand created by the Industry 4.0 technologies, it is essential for the nation to create better links between training, education, industry and government. The strength of this bond will enhance better knowledge and strengthen the growth of new businesses in the nation.

Manufacturing in Mexico is in its development phase. It has benefits of diversity, data technology and human resources to take its economy to another level of development.

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