In order to help Small Disadvantaged Businesses (SBDs) compete in the marketplace, the SBA created the 8(a) Business Development Program.
The program provides managerial, technical, and contractual assistance to SBDs to ready businesses for success and is essential for helping socially and economically disadvantaged entrepreneurs gain access to a wider set of buyers, partners, and contract opportunities.
According to the Small Business Administration (SBA), small business owners that have experienced social and economic disadvantage can apply to enter the 8(a) Business Development Program. This program is designed to help small businesses overcome previous hardships by providing them with access to government contracts. In order to be eligible for the program, business owners must be U.S. citizens, and their firms must meet certain eligibility requirements.
8(a) Overview
*Socially Disadvantaged Individuals are defined as those who have been historically subjected to racial or ethnic prejudice or cultural bias within the larger American culture. Identified groups: African Americans, Asian Pacific Americans, Hispanic Americans, Native Americans, and Subcontinent Asian Americans.
**Economically Disadvantaged Individuals are defined as those for whom impaired access to financial opportunities has hampered the ability to compete in the free enterprise system, in contrast to people in similar businesses not identified as socially disadvantaged.
Once accepted into the program, businesses will receive assistance with marketing, management, and financial planning. Additionally, they will be paired with a mentor who can provide guidance and advice. The 8(a) Business Development Program is an excellent resource for small businesses looking to overcome past challenges and grow their operations. Fedbiz Access is a leading full-service federal business development firm that can help businesses navigate the application process and take advantage of government contracting opportunities.
These resource will help you strengthen your growth development
Your organization will receive access to 8(a) BD set-aside government procurements that you previously could not access, and could not bid on.
Your organization will receive a dedicated Business Opportunity Specialist and Industry Mentor to assist the efficient utilization of your 8(a) Business Development Certification throughout the 9 year business development program.
Eligible for financial assistance in the form of low interest loans, grants, and other fiduciary benefits that only 8 (a) BD Certification holders have access to.
Your organization will have access to business counseling services from your assigned government 8(a) BD Certification Officer.
Access to 8(a) BD training that will increase your awareness of different set-aside procurements, and avenues to maximize your revenue through the use of your new 8(a) BD Certification.
If your organization requires Bonding (construction and labor companies usually) you’ll receive secure and guaranteed Surety Bonding through SBA.
The 8(a) business development program is a great opportunity for small businesses to get their foot in the door with federal contracting. The program is designed to give preference to 8(a) certified businesses when awarding contracts, and the total number of certified firms has ranged from 5,000 to 6,000 in recent years. This can help a small business grow by cutting the government red tape normally associated with federal contracts. Fedbiz Access is a leading full-service federal business development firm specializing in B2G and B2B government opportunities, as well as city, state, and local contracting opportunities. We can help you navigate the 8(a) business development program and take advantage of this great opportunity. Contact us today to learn more!
If you are a disadvantaged businesses competing in the marketplace, have us provide the professional support your business needs.