Boosting SME Success in Public Construction Contracts

Revex
2 April 2024
3 min read

The Current State

Chet Holmes' Buyer Pyramid states that in any given market, only 3% of participants are actively ready to buy the product or service you are offering. In the construction industry, this 3% of participants actively aware of the need and scope of a project are submitting public tenders through various sources. However, small and medium-sized construction companies often face competition from larger players while lacking the resources to continuously monitor and identify new opportunities as they arise.

Chet Holmes' Buyer Pyramid

Common Hurdles

Many SMEs encounter hurdles when trying to find public contracts:

  • Scattered Information: Contracts are often listed on various platforms, making it difficult to track all opportunities in real time
  • Time-Intensive Processes: Manual monitoring can be time-consuming and prone to errors.
  • Resource Limitations: SMEs may not have the technology or expertise needed to continuously monitor public project requests.

Failing to address these challenges can lead to significant consequences for SME construction companies, such as:

  • Missed revenue potential
  • Lower proposal success rates
  • Competitive disadvantages

Many commercial and business development leaders are looking to tools and services that help to centralize and automate the opportunity identification process. This ensures that you are aware of every public project opportunity as soon as a request is submitted, helping you win bids as quickly and effortlessly as possible.

Want understand how other SME construction companies are doing this? Click here to have a 30-minute discussion with our specialist.