Federal Contractors Seeking Opportunities in Adjacent Markets in Face of Sequestration

This week, Market Connections, Inc. issued a poll that highlighted federal contractors’ perceptions of sequestration and if they believe it will actually happen.

Surprisingly, most contractors were split, with 36 percent believing that sequestration is unlikely to happen, while 34 percent believe the budget cuts are somewhat likely.

With 46 percent of contractors reporting they are doing nothing to prepare for sequestration until the budget issue is resolved, how are the remaining 54 percent preparing for sequestration? According to the poll, these contractors are proactively seeking new opportunities in adjacent markets, which include healthcare (38 percent), state and local government (29 percent), international markets (29 percent) and energy (20 percent).

Adjacent Markets

The study also found that the top five opportunities for contractors over the next 12 months fall into healthcare IT, mobile workforce, cloud computing, big data/analytics and cyber security.

As most forward-thinking businesses tend to embrace change and can pivot based on market needs, we’re looking forward to seeing how new opportunities play out in 2013 and beyond.

In addition, perhaps these poll results will be a wake-up call for the 46 percent of contractors who are waiting to see what happens with sequestration!

 

 

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