SBA Minor Owned Certification To Take Your Business Higher

SBA 8a Certification

If you are looking for finding newer and wider business opportunities, then going after federal contracts would be a good option. If you are looking for newer marketing avenues, then taking advantage of these federal certificate programs can open a wide area of business opportunities. This certification program is offered to small business owners. If you are a woman, specially abled person or a minority, then you can take advantage of minority owned certification that is also known as 8a program.

There are 2 major certification programs that are administered by the SBA (Small Business Administration) – Federal HUB zone and SBA 8a certification. Some of the features of these are as follows:

Federal HUB zone: The main objective of this program is to help the small business owners market their products to larger contractors from both government and private corporations. The main objective of this program is to render encouragement to the small business owners by increased employment opportunities in a local niche and developing the general economy of the nation. To get eligible for this certification, the requirements are –

o The business should meet the criteria of ‘small business’ standards.

o The business should be controlled and owned by the US citizens only.

o The main office of the business needs to be located in a federal HUB zone.

o The employees of the organization comprising at least 35% should live in the specified HUB zone for a minimum number of 180 days.

SBA 8a Program: The main objective of this program is to render support to the minority, disabled, and women business owners. With the help of this 8a program minority certification the business owners can reach out to large government and private corporations contractors along with the federal procurement agencies. As per the standards specified in this program, this certification is rendered to registered companies, who also render advice to the business.  The mandatory eligibility requirements for this program are as follows:

o Minimum 51% of the shareholders need to US residents and members of designated disabled veteran, minority group or woman.

o The candidates need to submit proof of their demonstration of economical and social disadvantage through professional and personal experiences.

o The shareholders should not have more than $250,000 in terms of personal assets. However, business assets and personal residence will not be included in this.

o The applicant needs to be in business for at least past 2 years.

o The applicant needs to submit proof of his / her abilities to grow and build a business.