minority business office oeditthe minority business office of colorado is ... a benefit of mbe...
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Minority Business Office OEDIT
The Minority Business Office of Colorado is dedicated to advance business opportunities and
relationships while being the premier advocate and information resource for Colorado’s minority and
women-owned businesses.
Our mission…
Rosy Aburto McDonough, Director
Talia Bond,
Lead Consultant Local Certification
Ana Mostaccero,
Lead Consultant Local Certification
Andra Hargrave,
Lead Consultant
Federal & State Certification
Leroy Romero,
Program Manager
WHO WE ARE
CERTIFICATIONS
What is a certification? Is the process that helps a larger, more diverse group of businesses compete for government contracts. It is a valuable tool to help small businesses grow and increase their revenues. Many small companies do not realize that they can, by gaining certification for various qualifying factors, access a much broader world of opportunities. It is HOW the company utilizes such certification(s) that will be of value in the form of revenue growth, new clients, contracts, etc. A Certifications is an acknowledgement or recognition of a specific category business ownership. It indicates that a minimum requirement has been
met to be granted an official recognition or designation.
What type of businesses can get certified? • Construction and transportation • Businesses related with construction • Goods and professional services
CERTIFICATION
What are the benefits?
• These benefits were created to level the playing field between new firms entering the market and well-established firms that may have gained a competitive advantage through time. All of these benefits require registration and certification as a disadvantaged business enterprise.
• Business is listed in directories and portals available for contractors and consulting businesses.
• Opportunity to build a reputation based on quality of work, allowing the company to grow.
More benefits…
• Strategic advantages include:
• Sole Source Contracts - Selection of bidding opportunities
• Competitive Set-Aides - when a budgetary allocation (contract) is then placed on or attached to a certification.
• Joint Ventures – Teaming up
• Mentor Protégé Programs
• Acquisitions – Exit strategies
• Technical and financial assistance
• Community benefits because when the business grows, job opportunities growth, acquisition power improves, and quality of life improves.
CERTIFICATION
•The Council has over 3,500 corporate members including all Fortune 500 and Global 500 corporations in its network. Benefit is: ACCESS to top corporate purchasing agents, premium networking events, searchable supplier databases, affordable consulting services, technology programs, and vital introductions to nationally known corporations. Corporations have supplier diversity programs specifically designed to source products and services from minority owned businesses to keep their businesses in line with the shifting demographic profile of our country. Companies recognize a diverse supply base offers a competitive advantage in today’s multicultural business economy. A benefit of MBE certification is that any contractual agreement between a corporation and Certified MBE counts towards that corporation’s supplier diversity goal. The more they spend , the closer they get to achieving and surpassing their goal.
Advantages Private
•Business training, counseling, marketing assistance and high-level executive development. •Access to surplus government property and supplies, SBA-guaranteed loans, and bonding assistance. •Sole-source contracts (up to a ceiling of $4 million for goods and services and $6.5 million for manufacturing). •Attractiveness to a larger federal government prime contractor for teaming, joint ventures or mentor/protégé relationships. • WBE - The Women's Business Enterprise certification has more than 700 US major companies and governmental agencies that rely on the certification as an integral part of their supplier diversity programs.
•Disadvantaged Business Enterprise (DBE) - for small woman- and minority-owned businesses seeking federally-funded highway and transit contracts. Every state and territory within the United States are required to utilize the DBE certification. •Emerging Small Business (ESB) - for smaller business providing highway construction, professional services (engineering), and practice of research for CDOT projects. •To help you get your foot in the door. Do not guarantee a contract with CDOT but they do provide a competitive advantage. •Support services and resources for business preparation, marketing, bidding and performing work as a prime or subcontractor.
Federal State
Advantages Local
Helping a larger, more diverse field of businesses compete for government contracts is an important way to help small businesses grow and increase their revenues. Many small companies do not realize that they can, by gaining certification for various qualifying factors, access a much broader world of opportunity. The City also maintains a defined selection pool of Small Business Enterprises (SBE) and specific projects for Emerging Business Enterprises (EBE). Larger companies that bid on the City’s construction projects meet the specific M/WBE/SBE/DBE goals by partnering with certified firms. https://denver.mwdbe.com/FrontEnd/VendorSearchPublic.asp?SessionID=26131705487873321426172360534662&TN=Denver
Highlights: • 1,245 certified firms as of 1/2016 • In 2015:
• $54M of project awards to M/WBE firms in 2015 (20% of total awards) and • $19M of project awards were made to DBE firms (35% of total awards)
•In 2015: • $86M was paid to M/WBE firms (27% of total payments), and • $15M was paid to DBE (30% of total payments)
• $130M was earned by ACDBE concessionaries (39% of total concessions revenue in DEN)
The alphabet Soup
ACDBE (Airport) Airport Concession Disadvantaged Business Enterprise DBE Disadvantaged Business Enterprise EBE Emerging Business Enterprise M/WBE Minority/Women Disadvantaged Business Enterprise SBE Small Business Enterprise SBEC Small Business Enterprise Concessionaire There is a $200 fee for the MWBE, EBE, SBE, and/or SBEC certifications. ACDBE and DBE are free.
BASIC CRITERIA
Basic criteria to get certified:
• At least 51% of your company owners must be members of economically and socially disadvantaged groups (Women, Hispanic, Asian, Black, Native American).
• Must be a US citizen or permanent resident • Legal structure of the business is for profit, i.e.: LLC, Corp, Partnership, or sole
proprietorship • Business has been in operations for at least six months
Your MBO team can guide you to determine this criteria
MANDATORY DOCUMENTS FOR CERTIFICATION
Some mandatory documents: • Notarized documents confirming that the business owner is part of a minority group • Finance institution authorization • Last three years of tax returns • Proof of contributions to your business • List of employees or contractors and future plans for hiring if applicable. • Owners’ and executive team resumes • Finance documents: balance sheet and income statement for the last three years • Proof of residency and/or citizenship • NAIC codes in which the business operates
Your MBO team can help you understand the documentation
Consultants:
Questions?
Rosy Aburto McDonough – Director
LeRoy Romero – Program Manager
303-892-3840
www.mbocolorado.com