Wondering if an SBA 8a certification is worth it for your small business development?
If you want to know how much this business certificate will benefit your company, keep reading!
We’ll tell you all about what this certification entails and why it’s perfect for your business needs.
What Is the SBA 8a Certification?
The government has a goal to give at least 5% of all federal contracting to disadvantaged businesses.
The 8a Business Development Program, also known as the “SBA 8a” program, is a U.S. government-wide program. It helps small businesses owned and operated by the socially or economically disadvantaged. This includes women and minorities.
The government created the program to level the field for entrepreneurs. The intent is to allow small businesses to compete against larger companies.
The program is designed to help small businesses gain footholds in government contracting. Small business owners are able to prioritize their applications contract opportunities.
Who Is Eligible?
The definition of eligibility is quite rigid for the SBA.
Small businesses with a maximum of $13.4 million in average annual receipts are eligible. Businesses must be at least 51% owned by people who meet the program’s requirements.
Owners must be socially and economically disadvantaged, such as women, veterans, and minorities.
What Are the Benefits of SBA Certification for Small Businesses?
If you’re wondering why this certification is beneficial, the answer is simple: it helps 8a companies win more federal contracts.
With an SBA 8a certification, you can take part in special set-aside programs that are exclusive to disadvantaged businesses. You can also receive mentoring and training services to help your company grow.
An SBA certification can help small business owners overcome barriers to entry. Being certified gives access to other small businesses and top-level officials within the government.
Unfortunately, the small business community is often overlooked. The program was developed to help owners market themselves among large corporations.
The program also promotes small businesses by sponsoring small business development centers. Known as SBDCs, these centers are invaluable resources for small business owners. They give support and training and teach about small business management.
What Does the SBA 8a Certification Entail?
So now that you know what the SBA 8(a) certification is, how do small business owners get it? Well, there are a few steps.
The first step is to apply for small business development company (SBDC) certification. Once you receive your certification, the next step is applying for socially disadvantaged small business status.
These steps enable small businesses to do more nationally. Businesses can take part in government contracting programs. Certified businesses also receive help through small business development centers.
Getting these qualifications can be daunting. Fortunately, it’s possible to get your business certificate online without too much effort.
Get Your Certification Now
Now that you understand a little more about the SBA 8a Certification, you should have all the tools that you need to get started. The small business certification you need is just a few short steps away.
If you’ve enjoyed this article, why not check out the rest of our Business section?