What is 8a certification Small Business

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8a certified by the U.S. small business administration

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8a certification consultants

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8a certification requirements

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SBA 8a qualification

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8a certification federal government

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8a certification assistance

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Tuesday, 30 July 2013

SBA 8a Application: 4 Major Mistakes Applicants Often Make

Do you want your small business to get 8a certified? You first need to make sure whether you are eligible for the SBA 8 a certification requirements. If you are unable to meet any one of them, you will be rejected by the United States Small Business Administration. The SBA is very strict with reviewing the application. Any mistake on your part will delay your request and cause harassment to you or even jeopardize your chances of getting 8a certified by the SBA.
8 a certification
8 a certification
Here in this blog, we have discussed the four major mistakes, which applicants often make while applying for the 8a program. Make sure not to make these mistakes when you apply for the certification program.

Never appoint your better half as the CEO of your company

Many applicants make the mistake of appointing their spouse as the CEO of the firm. This is one of the major mistakes they do. You should never do this unless your better half has a strong background in business management or has held a top management position in other companies in the past. Make sure your spouse has technical credentials as well if you plan to appoint him/her in the position of CEO.  The person you appoint as the Chief Executing Officer of your small firm should have the appropriate skills, expertise, licenses and credentials required to succeed in the industry.

Never obtain contracts from your X-employer

You should make it a point not to acquire contracts from your past employers. If you do acquire contracts from them, it will see as if your form is just a front for them. All you need to do is develop a wide base of clients and have a balanced project portfolio before getting involved in the SBA 8a application procedure.

Never appoint a number of Board of Directors

One of the major mistakes, which small companies often do is, just after few months of their commencement they appoint a number of board of directors. Never do this because you might dilute your firm control or come up with an affiliation or size problem. Carefully vet all the directors and officers before applying for the 8 a certification because these people will need to submit some of their personal documents as part of the firm’s 8a application.

Never show a loss on company taxes

Applicants often think that they might get approval from the SBA if they show the agency that they have incurred losses while running the company. Never do this. Instead show positive equity and positive revenue in your business to prove the SBA that your firm is in a stable and healthy condition.

Always make sure that you do not make these above-mentioned SBA 8a application mistakes if you want your company to get 8a certified at one go.

Wednesday, 17 July 2013

Arranging The Personal Financials Is Compulsory Before Requesting For 8A Certification

If you are thinking to request for the 8A certification without arranging your finances, it is quite certain that your 8A application will get denied. According to the federal rules set of the SBA, your personal finances must be synchronized to get access to federal funded contracts.

Requesting for the 8A programs needs fulfillment of numerous pre-requisites. One of the key requisites to be fulfilled for successful 8A certification is the appropriate planning of your financials. According to the rules of the government programs, if you are requesting for schedule projects you must correctly coordinate the financial position of your firm and deliver your SBA application in a methodical and disciplined way. Professionals suggest that, if you own a small firm and wish to get rid of your personal financial barriers effortlessly to request for the 8a programs, it can be completed in a number of ways namely:
8a Certification
8a Certification
 Assembling a list of the liabilities

Before you request for the 8 A Certification programs, arrange a list of all your incomplete dues and liabilities namely credit card accounts, car payments, mortgages and HELOCs. Agreeing to the SBA, if you are a candidate you must disclose all your liability to the SBA.

Placing papers for all accounts

If you own an account for any liability or asset, appropriate documents must be delivered to display its current value. To validate the existence of such accounts, suitable documents must be offered instead of just word-of-mouth.

Good riddance from debts

If you have any federal obligation such as linens, arrear taxes or student loans it is highly suggested to pay it off. In case you are unable to pay your debt completely, establish up a formal payment option with the leading federal agencies like IRS, SBA, or Department of Education. Ensure that the plan is included in the 8A application before submitting it.

Keep a record of assets

Maintain a record of all your assets before prior sending the application for the 8A program. If you possess an asset together with your spouse, do not forget to indicate it in the list. It is compulsory for you to make the SBA alert of each asset, online accounts or 401k plans you own, prior sending the requesting for 8A certification.

Place your documents in order

After organizing all your documents, use a binder or folder where it can be easily accessed when needed while creating for 8A application. You can utilize your account statement to aid your financials while sending application.

If you do not obey to the basic instructions and layouts set by the government program, your request will get denied. Meeting the financial requirements is one of the rudimentary requirements to get your company 8Acertified successfully. Hence, it is compulsory for you to pay attention to the above-mentioned ideas and solve your financials prior submitting your SBA certification request to bid for government projects.