The minority run enterprises in the United States of America have grown in numbers in the last decade yet they could not establish themselves fully due to certain constraints on the socio-economic frontier. The aim of SBA is to draw in response from the minority business owners who are finding no way to boost their small business presence. The SBA therefore came up with the 8a certification program, which is undoubtedly the best thing to happen to the US minority owned businesses. If you belong to one of the minority communities in the USA, you stand a chance to grab this unique opportunity provided by the Small Business Administration (SBA) by earning the 8a certification for your enterprise.
To start with you have to apply to the SBA for obtaining the 8a certification. Before you start processing your 8a application you must take a break from all the activities and make sure that your personal and business status both stands eligible for obtaining the coveted 8a business certificate. To make things easy here are the prime eligibility criteria -
1. The applicant business firm must be ‘majority-owned’, that is the owner must have 51% or more of the ownership rights (in case there’s more than one owners)
2. All applicants must be American citizen either by birth or through naturalization.
3. The applicant business firm must be owned directly by individuals who belong to one or more of the minority communities of the United States of America. The term ‘minority’ is variously defined by the SBA, more prominently it indicates people who belong to one or more of the socially and economically segregated groups like the aboriginal American Indians, the Alaskan natives, the Hawaiian islanders as well as includes the black Americans and Hispanics naturalized American’s.
4. The applicant’s business must essentially be a ‘small’ business in every sense of the term.
5. The applicant small biz firm must display its promise and potential for future growth and success.
6. The small business must also have a considerably good track record in the same field in the last 2-3 years prior to applying for 8a certification.
Once your business meets all the of the above eligibility parameters, as decided by the SBA authority, you’re free to apply for the coveted SBA 8a Certification program and take your entrepreneurship initiative to the next levels of prosperity.
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| Minority Business 8a Certification Program |
To start with you have to apply to the SBA for obtaining the 8a certification. Before you start processing your 8a application you must take a break from all the activities and make sure that your personal and business status both stands eligible for obtaining the coveted 8a business certificate. To make things easy here are the prime eligibility criteria -
1. The applicant business firm must be ‘majority-owned’, that is the owner must have 51% or more of the ownership rights (in case there’s more than one owners)
2. All applicants must be American citizen either by birth or through naturalization.
3. The applicant business firm must be owned directly by individuals who belong to one or more of the minority communities of the United States of America. The term ‘minority’ is variously defined by the SBA, more prominently it indicates people who belong to one or more of the socially and economically segregated groups like the aboriginal American Indians, the Alaskan natives, the Hawaiian islanders as well as includes the black Americans and Hispanics naturalized American’s.
4. The applicant’s business must essentially be a ‘small’ business in every sense of the term.
5. The applicant small biz firm must display its promise and potential for future growth and success.
6. The small business must also have a considerably good track record in the same field in the last 2-3 years prior to applying for 8a certification.
Once your business meets all the of the above eligibility parameters, as decided by the SBA authority, you’re free to apply for the coveted SBA 8a Certification program and take your entrepreneurship initiative to the next levels of prosperity.
