When you think about the start of a new year, you likely think of January. However, the fiscal year starts on October 1st for the U.S. federal government. This may seem unusual at first glance, but there’s a solid reasoning behind it. Let’s explore the historical background and how this timeline benefits both the government and businesses involved in federal contracting.
Why the Federal Fiscal Year Starts in October: A Look Back at History
Sep 17, 2024 12:36:02 PM / by USFCR posted in Guides, Federal Spending
Budget Insights: How Q1 Spending Affects Federal Contracts
Sep 16, 2024 11:20:18 AM / by USFCR posted in Guides, Federal Spending
Did you know that the first quarter of the federal fiscal year can set the tone for contracting opportunities all year long? Understanding Q1 spending patterns can give your business a competitive edge in the federal marketplace.
The federal government's fiscal year kicks off on October 1st, marking the beginning of Q1 (October to December). This period is crucial for businesses aiming to secure government contracts. Agencies start implementing new budgets, directly influencing contracting opportunities. In this blog, we'll explore how Q1 spending impacts federal contracts and provide actionable strategies to help your business succeed.