Small Business Establishment and 8A Certification
As the small business companies are struggling hard to get established to the most competitive federal market place, the 8A certification program is earning popularity significantly. SBA, the Small Business Administration, an independent agency of the US federal government conducts the 8A certification which is aimed at developing the prospective companies and also to strengthen the country’s economical structure in turn.
The small business certification program is designed mainly to help the companies owned and operated by the minority group of business veterans and those are lagging behind due to social or economical restraints. Being 8A certified a small business company gets access to the lucrative federal business contracts which would otherwise be hardly possible for the companies having no market repute or recognition. However, getting into the 8A certification program is not a cakewalk though. List of eligibility criteria is there to evaluate the potential of a small business company opting for the program.
Now, before you think of the certification program and its eligibility issues, evaluate your business status to find whether you really need the certification or not. According to the market researchers, in the year of 2008, amongst 9,000 8a certified firms only 6,000 use their 8a Certification to obtain the federal contracts. So, what this certification can do for your business is certainly an important consideration. That is the reason why the business status evaluation has become one basic service the professional business consultants normally provide with.
Now, becoming 8A certified is not just about filling out a one time application form. Getting approved and holding a business license for the long 9 years to get the set-aside business contracts involves huge procedural steps. Once being certified a small business company must submit a formal business plan via form 1010c. Well, this should not be a typical business plan and a firm must re-register with the SBA on an annual basis. Through the form 1010c you need to explain your business goals as well as potential for pursuing the contracts. Yearly registration is mandatory and during the process financial limits on working capital and other financial ratios are also reviewed. So, being new to the federal marketing platform you must get a guidance of professional 8A Certification consultant.
In terms of completing the 8a application even with the help of a professional minority business certification consultant a business owner will have a few hours of information gathering time into the application. In most cases, once the certification application is completed major part of all the applications are returned from the SBA for lack of completeness and never reviewed. So, it is pretty hard to go ahead without hiring a professional consultant. As the popularity of these certification programs are increasing everyday, it is not very hard to find an efficient consultant online. All you need is to mention your location area; the list of consultants will appear to the home page of major search engines. It is always wise to talk to the professionals in person before making a final deal to avoid the scams and fraudulence.
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