The Federal Government needs to contract out a lot of its work – they’re not experts in everything and would rather trust the professionals. In fact, the U.S. Government is the single largest purchaser of services and goods in the world! The government is required to offer some of these opportunities to small business, and a percentage of that is REQUIRED to go to small businesses owned by socially and economically disadvantaged individuals. They’ve built an entire program around the goal to create opportunities for socially and economically disadvantaged entrepreneurs. This program is designed to ensure that these small businesses win federal contracts and thrive. Once you’re certified as an 8(a) Small Business you have access to billions of dollars set aside for businesses just like yours! And don’t worry on missing out on some of those big contracts–you can subcontract!
Why would you want an 8(a) Certification?
The federal government is required to spend 23% of its contracting on small businesses. In 2014, 23% of the contracting budget was $271 BILLION dollars. If you qualify for the 8(a) certification, you’re entitled to an additional 5% on top of that. That’s an additional $59 BILLION. The sad thing is that last year only 2% of money set aside for 8(a) businesses was awarded, so there’s lots left over to claim. Not only does an 8(a) certification entitle you to an additional $59 billion, it also can help grow your business privately. Many people like to give their business to small businesses as this promotes growth within the community. Being government certified proves this and can help you grow privately too.
How do you qualify?
You need to prove that just you’re a small business owned by a socially and economically disadvantaged individual. In order to make sure that real small businesses in need are receiving this money, the government asks for a lot of information which must be submitted correctly in order to certify you. All of this equals time – time you could have spent elsewhere.
Main 8(a) requirements
- At least 51% directly owned by an individual(s) who are socially and economically disadvantaged and are U.S. citizens
- Your business must be a small business for its primary NAICS code
- The principals in the company (owners, officers, key players) must show good character
There are two options to becoming certified.
1. You do it yourself, which is absolutely free! However, when you embark on this journey yourself, you’re pitting yourself against bureaucratic mazes and red tape. Many businesses who try to register themselves without assistance lose out on getting certified, because certification is a job in and of itself (and you already have a full time one!). It’s a process that’s frustrating, extremely easy to mess up, and also takes you away from your primary job.
2. You let professionals (us!) take care of it for you. This is our job, and we have 15 years combined experience of getting small businesses certified. Because we’re experts, we know how to get certifications done quickly and correctly the first time. We’ll go over all of the requirements with you, gather the information necessary to complete the certification process, and then we’ll make sure you’re registered quickly and accurately. We’re also there for you during the entire process so at any time you can contact us.