8a Small Business
8(a) certification is an assurance of continual contracting support to SDBs or small and disadvantaged business entities. The 8(a) Small Business Development Program is definitely more than a mere formal certification. Small business firms can have the leverage of self-representing the status of their business firms by successfully completing the certification clauses and solicitation representations. What is more, they can spearhead towards high budget federal contracting opportunities.
WHAT IS 8(a) CERTIFICATION?
8(a) certification is a precise business development initiative adopted by the SBA or Small Business Administration and has a time span of nine years. SBA considers only the socially as well as economically disadvantaged small business firms eligible for the certification program and offers them ample assistance through the certification program to develop the range of their business. It is presumed that the certification program is highly beneficial for socially as well as economically disadvantaged minority groups such as Native Americans, African Americans, subcontinent Asian Americans, Hispanic Americans as well as Asian Pacific Americans. Individuals, who are not part of any of the minority groups but happen to be socially as well as economically disadvantaged, can take advantage of the development program. However, they would be required to produce strong evidence supporting their diminished credit opportunities and present status of dwindling capital.
VITAL FACTS SMALL BUSINESSES SHOULD BE AWARE OF
The small business organization should be lawfully controlled as well as unconditionally owned by the disadvantaged individual who is applying for the certification program.
- The development program is going to be divided into a developmental stage as well as transitional stage.
- Individuals or minority communities applying for the program should demonstrate that they have required potential to achieve success.
- Newly 8(a) certified companies can learn from experienced entities through mentor–-protégé programs.
- 8(a) certified firms will be rewarded sole-source federal contracts.
BENEFITS OF 8(A) CERTIFICATION FOR SMALL DISADVANTAGED BUSINESSES
8(a) certification courts in a trail of benefits for small business firms. Consider the important ones:
- Participants have the privilege of one-to-one consultation
- The participant of the development program becomes familiar with SBA standards in an appropriate manner
- Participants receive technical as well as management guidance
- Aspirants can acquire practical training through workshops
HOW DOES THE SBA SUPPORT 8(a) CERTIFIED SMALL BUSINESS FIRMS?
SBA dons a crucial role in terms of helping the candidates to meet the requirements of the nine-year program. SBA also brings the 8(a) certified small firms and experienced business magnates closer with the help of mentor–protégé programs. What is more, the organization also offers technical and managerial assistance to small firms for subcontracting opportunities as well as joint ventures.
If you intend to score high in the arena of federal contracting and wish to see your small business firm come out with flying colors, then get in touch with us. We help you take the right steps so that you bag the certificate without facing technical as well as tactical glitches.