SBA 8(A) Certification Information & Benefits

Small businesses can face numerous obstacles, but the 8(a) Business Development Program is one resource that can help them overcome some of these challenges. The program is designed to help small businesses owned by socially and economically disadvantaged individuals to compete in the marketplace by providing access to training, mentoring, and government contracting opportunities.  Here are some key tips to help small businesses succeed with 8(a) certification: Understand the eligibility criteria: To be eligible for the 8(a) program, your business must be a small business, unconditionally owned and controlled by one or more socially and economically disadvantaged individuals who are U.S. citizens. Additionally, the business must have been in operation for at least two years and must demonstrate potential for success. Develop a strong business plan: A strong business plan is crucial to the success of any small business. As part of the 8a certification process , you will ne...

Owning a small business is not easy especially, for owners belonging to economically and socially disadvantaged categories. However, acquiring a certification or making your company eligible for the 8(a) program can be the game changer. Every year, the federal government invests a minimum of 5% of the overall contracting dollars to help small companies flourish. Thus, 8a certification is your golden ticket to benefit from this award scheme.  Besides, getting certified by an 8(a) Business Development program and maintaining eligibility requires patience and proper association. Learn more about this certification and ways to turn this opportunity in your business’s favor by sticking to this blog. Why is 8a Certification Essential for Small Company Owners? Often, businesses refer to the 8(a) program as the SBA Mentor-Protégé program ideal for making them eligible to bid for government contacts. Thus, providing an equal opportunity for new startups and small companies and making...

The 8(a)-certification program is created to help individuals who are economically and socially disadvantaged. It is a nine-year-long program that provides all kinds of necessary training, and technical and financial assistance to weak business owners so that they can compete in the American economic scenario. Any socially or economically disadvantaged group can take part in this certification process which includes but are not limited to Indian tribes, Red Indians, Alaska Native Corporations, Native Hawaiian organizations, etc.   In simple words, it is an attempt to provide an equitable opportunity to underprivileged business owners so that they can access different contracts in the federal market. What is the Benefit of 8(a) certification? If business owners are willing to create a stable position in the federal marketplace instead of their position and they are running the business at least for two years, this certification can be very beneficial for them. However, if you ...