As revealed in Onvia’s Q1 2016 State, Local and Education Procurement Snapshot the overall SLED contracting market saw a 2.7% rate of increase in competitive bid & RFP opportunities.
Out of four major industry groups examined in the report, the diverse business services group saw the largest rate of growth of 5.0% over the same quarter the previous year.
Special to this blog is a free, easy-to-share infographic that summarizes what happened in the Q1 2016 business services SLED contracting market:
Recent Quarters Point to Growth Potential
The National Association of State Budget Officers (NASBO) reported that 43 out of 50 state governments enacted general fund budget increases for fiscal year 2016. Onvia confirms with research that points to modest growth for the overall 2016 SLED market.
The business services market specifically showed a 5.0% rate of growth in the number of opportunities, which follows a 9.6% rate of growth during the previous quarter (Q4 2015).
Highlight: Healthcare Leads at 11.5% Growth
For this analysis the diverse business services group is broken out into seven sub-categories: Healthcare, educational services, professional services, food services, financial services, office equipment and public safety.
Out of the seven sub-categories, healthcare saw the largest rate of increase in bid & RFP opportunities for the quarter at 11.5%. The second highest rate of increase was in educational services contracts, at 6.5%.
Highlight: Business Services Contracts Driven by Focus on Healthcare
11.5% growth in the healthcare sub-category supports Onvia’s recent analysis shown in our 10 Hotspots in Government Contracting for 2016 report, where it was revealed that contracts related to mental health services represent the top growth category in the broader SLED government contracting market.