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Showing posts with the label what is an 8a small disadvantaged business

8a Certification Especially for Women-Owned Small Business in the US

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The federal government’s aim is to award at least 5% of all federal contracting dollar to the woman operated small business every year. 8a certification is a primary process to the venture of 8a small business. The federal government limits competition for certain contracts to businesses that participate in women contracting program in order to offer a better leveled acting field for women business owners. These contracts are basically for industries where women-owned small businesses are underprivileged. Some contracts are chiefly restricted further to socially and financially backward women-owned small business. Here 8a certification plays an important role in 8a small business . Joining women’s contracting 8a certification program makes your business eligible to compete for the federal contract set aside for the program. Requirements for Women contracting program eligibility: It has to be a small business It needs to be at least 51% owned and operated by women who are US ci...

Frequently Asked Questions- SBA 8a Program

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When you are applying for 8a certification there are a lot of questions that arise in the minds of people. We have prepared a list of questions that are frequently asked and other information related to it. These questions will help in making your application easy as they will guide you to determine your eligibility criteria and also help gather the required documents. What is the biggest hurdle that we have to cross to apply for 8a certification? Well, this is a frequently asked and the answer to it is that your business should have functioned for a time period of two years. Unless and until, it has that amount of maturity you cannot apply for it. No doubt, there are exceptions to this  as sometimes a business is allowed before two years to apply, after it has completed several other formalities that include tax return, annual income and experience of owner. Another major hurdle towards 8a certification is that the owner must be able to give 40 hours per week to the work. T...

Problems Faced by People in 8a Certification Application Process

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While there are many lucrative aspects of getting an 8a certification, it is no denial that there are some problems that are faced by people who hope to get 8a certified. Here we have listed out some of the commonly faced problems: Firstly, people are unaware of the eligibility criteria and are not able to recognize their eligibility. Being disadvantaged owner does not only pertain to a bias narrative but there are many other formalities that need to be fulfilled in order to go through the application process, successfully. It is suggested that one goes through all the criteria and also gathers all the related documents that will be attached with the application and evaluated by SBA officials. A complex application form makes it difficult for people to fill in all the details. The length of form runs to around 30 pages with people taking about a month to put together all the details and send it. After that, there is additional 3 months taken by the SBA to go through the applicati...