Discuss About the Entire 8(a) Business Developmental Program

Introduction: The main motto of the Federal Government is to give recognition to at least five percent of all total federal contracting dollars to the SBA firms – small disadvantaged businesses in every year. To mature this project of the government, there is 8(a) certification program. To get certified in to 8(a) program, there are certain 8(a) certification requirements, which have been discussed here –

The 8(a) certification is a kind of Business Development Program which provide assistance program to all small disadvantaged businesses. There can be broad scope of assistance offered by the 8(a) developmental program, to those firms which are owned and controlled by at least 51% business owners who are socially and economically disadvantaged individuals. Every small company wants to get certified under 8(a) certification. This is a nine-year developmental program includes business training, counselling, marketing assistance, technical assistance. The certification is generally limited to small businesses which have been unconditionally owned and nurtured by socially or economically disadvantaged individuals.

Below has been discussed about the 8(a) certification requirements –

  1. The disadvantaged class of people mandatorily own 51 percent or more of the firm.
  2. They should have the proof of American citizenship by birth or naturalization. 
  3. They should be the owner, no third-party sponsorship or ownership will be allowed. 
  4. The principal owners should posses’ good characters. 
  5. If there is any full time-manager, that person should meet the SBA requirement for disadvantage. In that case, the manger has to show proof of social and economic disadvantage. 
  6. The firm must be a small business, yet, focused enough to achieve the goal.

The prime focus of the program is to provide business development support from all possible ways, these are as follows:

  1. Mentoring
  2. Procurement assistance
  3. Business counseling
  4. Training
  5. Financial assistance
  6. Surety bonding
  7. Other management and technical assistance

8(a) certification requirements program benefits are like –

  • Being 8(a) certified, projects that your company has the durability to last long in the industry and financial stability.
  • The validity of this certification expires after nine years from the date of certification. Therefore, you need not to re-apply or pay for it annually.
  • It is kind of a proof that your company is in good financial shape with the federal government (no federal debt) and it is very much appealing to contracting officers.

Conclusion: Fulfil the 8(a) certification requirements, to get the certificate which will help to grow the small businesses.

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