What are the key differences between a 'sources sought notice' and a 'Request for Information' (RFI)?

A sources sought notice is issued to determine if there are enough capable small businesses to set aside a contract, while a Request for Information (RFI) is used to gather general market information when the government does not intend to award a contract (FAR 15.201(e)). The government uses a sources sought notice to test the "Rule of Two" for small business set-asides, seeing if two or more small businesses can do the work at a fair price. If they find enough, the next step is often a formal solicitation. An RFI can be broader, asking about market capabilities, new technologies, or general approaches to a problem. Responses to an RFI are not offers and cannot form a binding contract. I prioritize sources sought notices because they directly inform a potential set-aside. My response strategy for a sources sought is to directly address the capabilities needed for the work, often with a capability statement. For an RFI, I focus on demonstrating our expertise and unique solutions, even if it's more speculative. Neither notice guarantees a solicitation, but the sources sought points to a more immediate need for a specific contract.