8a certification is not easy to get. It’s a SBA(Small Business Administration) program in USA. However, it is extremely beneficial for small-scale businesses and has been initialized to assist all those small-scale entrepreneurs, who are socially and economically disadvantaged. Over the last few years, this SBA program has become very important and has been rewarding thousands of minority, female and other economically or historically disadvantaged entrepreneurs with favorable government contracting set asides, bonding and financial assistance.
As soon as a business gets an 8a certification, it remains for a period of nine years. The program even allows companies to obtain assistance in improving the business and building good relationships with agencies of the government.
So, if you happen to be a small-scale business entrepreneur, who is socially or economically disadvantaged, get your business certified for this SBA program soon.
Here are few things, which you need to keep in mind to get your business 8a certified
To be eligible for SBA 8a certification, ensure that 51% of your business is owned and controlled by historically or economically disadvantaged individual(s). None of the eligible entrepreneurs can have a net worth above 750,000 dollars. The company must have been in the industry for at least a span of two years unless you have proof of business stability and viability. The entrepreneur should be a citizen of U.S, a noble person and have no personal bankruptcy on his or her credit report. The company must not exceed the SBA’s size standards of small businesses.
Make sure your business has DUNS (Data Universal Numbering System) and that it is registered in the database of Central Contracting Registration. Also, make sure that you set up an account in the General Log-in System of SBA.
Submit a completed electronic application and save a draft copy. The system will give a clear direction and a user manual to guide you through the application process. So, you do not need to worry about how to proceed while completing and submitting the application. However, before completing the application, you need to write a personal statement and your explanation of deprived status. Compile all the documents that are needed to complete the application. Either include those documents with the application or request for it afterwards.
Immediately respond to the requests for supporting or additional documentation. SBA usually takes 3 days turnaround time to submit these documents successfully.
Now that you know how to get your business 8a certified, what are you waiting for? Get it done right the first time!
