The 8a certification can lead the small businesses to success

The video on 8a certification is the information regarding the program for small and disadvantaged firms and companies in the US market. Often the entrepreneurs complain about the lack of opportunity theta face in the commercial market.
The SBA provides certification to the small and disadvantaged companies to do business in the federal market. Getting on the 8a program proves eligibility for the small companies to bid for huge federal orders. The federal orders mean volume purchases and bulk discounts.
However, it is not easy to get on the minority program. The eligibility criteria need to be fulfilled failing which the SBA rejects/ denies the 8a certification. The eligibility criteria are

  • All applicant(s) must be US citizens.
  • The primary or main applicant must the owner of the business holding management position
  • The primary holder of the company must show that he/she is the maximum compensated in the business applying for the 8a certification.
  • There should not be any transfer of personal assets within the last two years to a close or immediate family member for less than the market value.
  • The reason for the social and economic disadvantage for the 8a certification should be a narrative statement containing all the information.
  • The applicant should have all the licenses and professional certifications required by a business holder for the concerned business.
  • The SBA must consider your business small, that is the NAICS code, the number of employees and the gross sales are the key factor that defines the size of the firm.
  • The SBA will examine in detail if the business has ownership or affiliation with other business.
  • The business applying for 8a certification should not have an approved status in the past by the 8a program.
  • The subcontracting to other businesses should in allowed or permitted percentages.

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