The SBA’s 8(a) Business Development program, created by the Small Business Act, is a business development program designed to assist companies in gaining access to the resources necessary to develop small businesses to compete in the US economy. SBA works with federal agencies to help set-aside contracts for 8(a) entities and achieve the goal of 5% of all prime and subcontracts being awarded to small disadvantaged firms. Businesses that have 8(a) status are able to receive sole-source government contracts. An 8(a) business can request that a procurement contract be sole-sourced for up to $3 million for commodities or services, or $5 million for manufacturing. Gaining 8(a) status does not guarantee a business will win federal contracts but is a good step toward success as well as a useful marketing tool. The SBA determines whether or not a business is a “small business”, a citizen is socially disadvantaged, and an owner meets certain conditions regarding ownership, control, time in operation and net worth. If the SBA considers the requirements satisfied, then the aim of developing these qualifying small businesses to succeed in the larger economy becomes the focus, specifically the work begins with federal agencies to ensure that these firms will receive a fair share as a means of assisting them not just to grow, but to prosper.
Archive for the ‘Small Business’ Category
Small businesses are likely to benefit greatly from government spending — and even more so if on a GSA schedule. GSA Schedule contracts are an ever growing focus of federal procurement specialists….