Is your small business accredited with SBA 8a certification? Then, you should ensure that it conforms to the certification guidelines. There are certain compliance guidelines that are fixed by the SBA which an 8a certified firm must always adhere to. Failing to comply with the guidelines is to be treated as a defaulter and in such a situation the looms the probability of losing the 8a status from the next fiscal. SBA has streamlines its policy of 8a Annual Certification Compliance Services and hopes that every certified small business would stick to the basic guidelines while pursuing their government work order.
In the following section we will highlight the 4 salient features of the annual 8a certification compliance services. But before treading into that one thing you must remember, the 8a program being of 9 year duration, once your firm is accredited, you have to apply for the annual re-certification to the SBA to keep your certified status valid. Here are the 4 salient features you have been waiting to look at –
The Annual 8a Re-certification Requirement –
The official rule is as follows, the 8a certified company applying for re-certification must have completed one year of 8a certification and then only proceeds to apply afresh to the Small Business Administration.
Changes in the Company –
Even if your company has undergone a sea-change in the last 1 year of its 8a certification status, it is highly important that you ensure that detailed information about the change in the management (e.g. change in the directors/management body et al) is communicated to the SBA and must be approved by them, to carry forward their 8a certified status.
Holistic 8a Consultation –
One major thing that can keep your 8a certified firm moving from strength to strength is by availing 8a certification consultation through a reputable consultancy. A holistic approach to understanding the 8a certification consultation is needed to get your business secure and safe year after year, during the full 9 year tenure of the business development certification program.
Counters SBA Challenge –
Once your small business is 8a Certification approved do not rest on your laurels; instead make sure that your business conforms to SBA re-certification guidelines before submitting your annual review application. During that time and even afterwards, the SBA can challenge you anytime and ask you to show your business documents for compliance eligibility.
A reputed 8a certification consultant can guide you all along and make sure that your business meets all the SBA re-certification compliance guidelines.
