DECODING THE ENTIRE HYPE AROUND 8A CERTIFICATION

8a certification has proven to be a game changer for socially and economically disadvantaged businesses in America. This refers to a business development program put in place by the small business Administration, which can be a very good platform for minority businesses to be inducted into the American mainstream economy. This certification confers a lot of benefits on the approved businesses, which helps them considerably get more business and increase operations efficiently. Though there's a very strict criterion in place to be 8a approved, with a little bit of consulting help the entire process can be worked out pretty easily. This program aims to compensate the socially and economically disadvantaged in America for all the discrimination faced by them, and thus there is a huge clamor and buzz around 8a certification all around the year.

The main benefit of this certification is that it can open a lot of opportunities which sees the certified businesses getting a lot of contracts coming their way. A lot of federal contracts are reserved for these businesses or it won’t be wrong to say that they get some sort of preference with them and hence there is the perennial buzz around 8a certification. It is not being implied that such certification guarantees a lot of business coming the way of approved 8a firms, but it gives them some leverage and privilege in working their way around getting the contracts. This program has been initiated to level the playing field between the economically well-off and disadvantaged firms and there have been a lot of success stories to substantiate the success of this program.

Tough eligibility criteria have been set around 8A certification which makes it clear that only the most deserving businesses within the meaning and purpose of ‘socially and economically disadvantaged”  should become certified 8a firms and that is a very stringent check and annual reviews to ensure the same.  Hiring consulting expertise to help you with all the steps in the exhaustive 8a process can prove to be a worthwhile idea because the benefits arising out of this certification will be far higher than the amount being compensated to the individual firm or individual.

Companies have witnessed life-changing experiences after getting 8a certified with many posting double to triple-digit growth rates in a stagnant business which didn’t have much scope for growth. Further, the staggering value of federal spending in segment opens a lot of opportunities for the certified firms. There are only 8,500 8a certified firms in America as against to 24 million actual and overall business so the benefits are for everyone to see. Further the federal spending in this segment also easily exceeds $30 billion every year, with multiple other benefits available to the approved businesses through sole-source contracts.