SBA Federal Contract Opportunities To Women Owned Small Business

SBA 8a certification has offered new opportunities to get more federal contracts for women owned small business. As per its final verdict on the program, it has included a new certification, known as edWOSB (Economically Challenged Women Owned Small Business). As per this new program, women business owners get increased chances of getting the government contracts.

Women Owned Small Business SBA Certification Federal Contract

Benefits of edWOSB program

• As per the new program, women business owners can also win set-aside government contracts
• 5% of these federal government set-aside expenditure is for the WOSB or edWOSB program
• Projects that are less than $3 million and $5 million can take advantage of this set-aside
• 5% of the subcontract requirements are fixed to wosb from large major contractors
• Along with other programs like SDVOSB and HUBZone, this new program has equal opportunity
• The new program also has a separate mentor protégé
• The program has no term limit
• Nearly 83 industries that are qualified by NAICS codes are enlisted in the program
• On 45 industries, rule of 2 for wosb is implied
• On nearly 38 industries there is no rule of 2 for edwosb companies

How to get 8A Certification

You can get new 8a small business certification in a number of ways, some of which are –

o Third party certification
o Using existing 8a or 8a BD certification
o Using DOT’s DBE certification
o Self certification

Procedure for Self Certification

The procedure for self certification is as follows:

1. As per the SBA final rule guidelines, you need to determine whether you are eligible for the program
2. Your business needs to have at least 51% women ownership
3. The financial threshold of the women owners should be as follows:
o Gross asset should be less than $6 million
o Net worth of business should be less than $750,000
o The annual income or salary of owners should be less than $350,000
4. You need to review 83 industries under NAICS and see whether you are meeting the standardized size
5. As per your business qualification you need to choose either wosb or edwosb program
6. You need to provide documents for the program, which are as follows:
a. Business profile – type, financial statement, tax returns, and so on
b. Owner’s (s’) profile – financial statement, personal tax return, credit history, and so on
c. Management profile – list of employees with residential details, list of officers with residential details, and so on
d. You need to fill out IRS form 4506-T
e. You need to fill out SBA 413 form
f. You need to fill out SBA guidebook’s appendix C, in case you are applying for edWOSB certification
7. You need to register or update (if already registered) your CCR registration
8. You need to complete or update DSBS database of SBA
9. You need to complete or update ORCA database
10. You need to sign all the documents mentioned above with notary affidavit
11. Then submit all the documents along with the application form to repository database of WOSB or edWOSB
12. Need to maintain a duplicate copy for company record

However, if you want to be free from the hassles of so much paperwork and stringent application procedure, you can take help of a professional consultant and pay more attention to increase your business revenue.

Please Check Video  GSA Schedule Contract & 8A Certification

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Paving The Way For A Good Business Through GSA Schedule Contract

The General Services Administration is an agency chiefly responsible for meeting the requirement of the United States government offices and employees. They arrange for all the resources required for the functioning of the government including vehicles and office buildings. The GSA Schedule Contract helps business organizations supply their product directly to federal agencies on a long term basis. Each contract is drafted in such a way that it remains in effect for quite a few years. This allows business units to enter in to a long term business relationship with federal agencies.

Business Through GSA Schedule Contract

Federal customers can buy from GSA scheduled commercial concerns in order to get products at a discounted price. There are a few advantages of shopping from GSA scheduled commercial organizations. As a result a large number of people are getting more and more inclined towards buying from these companies in order to get quality products at a discounted rate. First, buyers are always able to save a good amount while buying products from gsa schedule contract holders. It is to be kept in mind that the federal government has to buy and avail a large number of products and services everyday and so even a small save on each product and service can result in saving a huge amount annually.

Second, the federal buyers can make a choice from a large number of options. As there are a large number of contractors enlisted under the schedule. This helps buyers get the right product at the right price. Moreover, the companies that are enlisted in the gsa schedule contract are managed by expert professionals and hence are able to offer effective and efficient services and suggestions to clients. As a result the clients can be rest assured that they are going to get the best possible products and services at the best possible price.

Third, procuring goods from a gsa schedule contract holder is not a time consuming affair at all. The contracts are pre-competed and make it possible to procure even the scarcest resources within a very little time. Buyers can connect with the right industry partners and are thus able to make the best and utmost utilization of their time. Most of the procurement is done within a very few days if all the formalities are completed properly.

Fourth, transparency is another important aspect of sourcing goods and services from a gsa schedule contract holding company. The whole process is managed over the internet and so it is possible to maintain a transparent approach in the procurement process. There is no room for malpractices and both the procurer and the supplier benefit from this practice.

There are many commercial units that are currently registered under the gsa schedule contract. Federal buyers can go through the internet in order to know more about the companies so that they can select the right one according to their requirement. While dealing with these companies the buyers can be rest assured that they are going to have the best products and services in the market.

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How To Form An 8A Certified Small Business Administration

In the United States small and medium scale enterprises play a hugely important role keeping the nation’s economy running. As a result, it has become important more than ever to provide these business organizations with optimum support so that they can continue making contributions in the economy. A large number of socially and economically challenged entrepreneurs in the country are involved in the small and medium scale enterprises sector which has grown exponentially over the last few years. The 8a certificate has been introduced to provide some extra leverage to the small businesses owned by economically and socially challenged entrepreneurs. 8a certified small business administration enjoys some extra facilities from the government and are able to stay in the market competing with large business corporations.

8A Certified Small Business Administration

In order to file a successful application for an 8a certificate a business organization has to prove certain things. This certificate is for those who have been in a disadvantageous position for a long time in history due to no fault of their own. The socially disadvantaged class includes African American, Native Americans, Hispanic Americans and Asia Pacific Americans. All these people have suffered some sort of racial or ethnic repression at some point of time and the 8a certificate is designed to provide them some respite in matters of business and self employment. An 8a certified small business administration must be governed by those who are in a socially disadvantageous position. However, the business organization has to prove that it is in a similar situation if it has to earn a certificate.

8a Certification - What is 8(a) Certification Advantage?

Another important requisite for having an 8a certificate is being economically challenged. In the United States anyone having a capital less than $250,000 is economically challenged and is eligible for an 8a certificate. It is to be kept in mind that there are a large number people who are economically challenged when it comes to investing money in business. It is possible for 8a certified small business administration to gain some extra leverage in the market and be in business competing with others. It is to be kept in mind that there are a large number of people who think that when it comes to capital, small and medium scale enterprises lag far behind larger corporations. This certificate works a lot to allow the small business units enjoy certain facilities that would help them move forward in the market. Moreover, businesses managed by women are also eligible for 8a certificates.

The best way to file a successful application for 8a certificates is to take the help of professional 8a certification consultant who has quite a few years of experience in this field. There is no room for making errors in the process as if once the applications gets rejected all future efforts get even tougher. Hence, a professional consultant can help a person out in this regard and can make the filing process a successful affair. It is better for clients to contact more than one service provider and choose the right one.

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