When it comes to federal contracting, there are several government programs to help small businesses succeed in the procurement market.
What Are Some of The Government Programs to Help Small Businesses?
SBA 8a Program: Of all the government programs to help small businesses, the SBA 8a Program is one of most sought after in federal contracting. The 8a business development program is designed to help socially and economically disadvantaged (SDB) small business to gain unique access into the procurement market. The
The 8a certification program is a nine-year program. However, it has significant statutory power. After receiving their 8a status, the program helps small businesses to get sole source contracts or preferential set- asides.
Service Disabled Veteran Owned Small Business (SDVOSB) Program: The SDVOSB program is one of the government programs to help small businesses gain more access into the federal procurement market. In this program, applicants must establish their service-disabled status. Business owners are also subject to specific ownership and control requirements. See SBA affiliation rules. Like the SBA 8a Program, the SDVOSB government small business program allows certified companies to take advantage of sole source contracts and set-aside preferences.
HUBZone: The Historically Underutilized Business Zone (HUBZone) is yet another of the government programs to help small businesses in federal contracting. Small business owners in economically depressed areas are encouraged to take advantage of this status. When certified, like the other programs, HUBZone-certified companies can take advantage of 10% price preferences in full and open federal bids. In addition to the above, there also Woman-owned Small Business Programs, Small Disadvantaged Business (SDB) programs and GSA Schedules.
Planning is Essential
When deciding which of the government programs to help small businesses your company wants to take advantage of, you must first look at the various eligibility requirements.
They all have some differences. However, the most important aspect of the planning stage is to study which one of the various government entities use which small business program to buy your specific service or product. See information about SBA small business plan.
Strategic Business Development
In addition to the planning stage, your executives should also seek to form a strategic small business development approach with achievable goals. This can range from how to market to the federal government; refining government proposal writing practices and other important pieces to the business development stage. Many companies waste a considerable amount funds and other resources without having specific data to support their plan of action. See information about SBA 8a small business plan
For help preparing your company to take advantage of the many government programs to help small businesses, call our small business lawyers at 1-866-601-5518. FREE INITIAL CONSULTATION.