"The federal budget uncertainty is having measurable impacts on contractor revenue, profit, hiring and investment. I'm concerned about the long-term impact on performance and agency missions."
- Gary Loyd, CEO
Chantilly, Virgnia (PRWEB) February 06, 2013
The federal budget process has practically ground to a halt. Centurion Research Solutions recently conducted a survey of its clients to ascertain the impact of this impasse on their current and future business growth plans and, in some cases, financial survival. In a nutshell – the survey illustrates the drastic effects this situation is already having on federal agencies and the companies that support their mission. Over 90% of the 131 industry respondents indicated they had been impacted by the inability of political leaders to establish a more predicable budget process.
Referencing the survey results, Gary Loyd, Centurion's CEO, noted that, "Only 11% of responding companies are making a significant investment in new business initiatives and 67% of respondents are doing no or little new hiring, which, of course, does not bode well for the economy."
The continuing uncertainty about the budget has flowed down to every level of government. Procurements have been delayed, contract budgets slashed, awards increasingly made to the lowest priced bidder. From the survey results, it is obvious that thousands of federal contractors are being negatively impacted especially in terms of reduced hiring and historically low profit margins.
Centurion Research Solutions, founded in 2003, is a business intelligence and analytics company with a simple mission: offer innovative solutions that help federal contractors efficiently win more government business. To achieve this mission, Centurion has been providing online, subscription-based services, custom research and analysis, tools and methodologies, professional services and in-depth training. Industry leaders such as Alion, Northrop Grumman, SAIC, Lockheed Martin, BAE Systems, InDyne, CACI and Raytheon rely on Centurion's solutions, thought-leadership and expertise to help them identify and analyze relevant opportunities to win more government contracts.