5 Most Common 8A Certification Benefits
The companies which are on the
minority program by SBA get access to the federal market in a streamlined way,
but there are other 8a certification benefits as well. This
makes the program very much popular among the disadvantaged companies which are
not able to get a fair chance to perform in the commercial market. Apart from
increasing the opportunity, the other benefits of the 8 A program are -
1. Ample
time to set the footing- it is sort of entry level which
lasts for a considerable amount of nine long years, enough time for any company
to establish itself. The 8a certification benefits them to do
business with the Federal and its agencies as well. The eligibility criteria is
simple yet it takes a long time as the application is closely review and
reviewed by the SBA before awarding the certification.
2. Mentor
protégé- since the small companies cannot undertake huge federal orders
they can collaborate with other companies which act as mentor protégé from
them. This not only increases the opportunities, but also let them experience
the huge collaboration with other companies.
3. Sole
source contracts-The contracts awarded are
sole-sourced, where the ceiling is fixed to a humungous amount of $4millions
for goods and services providing companies. For manufacturing company, the
ceiling price is hiked to $6.5 million.
4. SBA
allow the companies to grow- Joint ventures and team
performance of the 8a firms are well accepted by GSA, so the program allows
performing and scaling new heights.
5. Limited
competitors- out of 24 million businesses in the US only 8,500 are 8a
certified businesses. So, the competition is very much reduced and is one of
the most significant 8a certification benefits.
The applicant should understand the
requirement before applying for the certification and the vlog discusses the
eligibility criteria in a very precise manner. So, have a look before taking
the plunge to the minority program.
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