Know More About 8a Certification Benefits for Small Businesses in The US
The best route to take any small business to the next level in the US is by getting right of entry to 8a certification benefits. The Congress implemented the 8(a) program to facilitate the small business to add leverage in the market. This results in increase in revenues and the scope to develop and grow into a more successful business venture.
The program has resulted in helping thousands of aspiring entrepreneurs to gain a foothold in the government contracting. The program certifies the companies having the potential to do business with the federal to give them a chance to do trade in the government market.
However, doing trade with the federal and its agencies is just one of the 8a certification benefits.
The other benefits are
The program has resulted in helping thousands of aspiring entrepreneurs to gain a foothold in the government contracting. The program certifies the companies having the potential to do business with the federal to give them a chance to do trade in the government market.
However, doing trade with the federal and its agencies is just one of the 8a certification benefits.
The other benefits are
- The 8a certified companies have the access to non competitive or sole source contracts which are commonly known as set- asides federal contracts.
- The amount of sole source contracts can go up to the whopping amount of $3.5 million for services and $5.5 million for manufacturing. Contracts amounting more than $5.5 million for manufacturing are competed but only with other 8a certified companies and firms.
- As the competition is restricted to 8a certified companies, the big companies do not pose a threat to these small companies on the 8A program.
- Other 8a certification benefits include mentor protégé or joint ventures for huge contracts, attractive teaming, workshops and less paper work, time and bureaucracy for 8a set asides contracts.
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