small business certifications: do you qualify?
DESCRIPTION
Small business owners face challenges compared to their larger, deep-pocketed competitors. To overcome these capital challenges there are several small business certifications available. Small business certifications give you the opportunity to compete for government contracts. Here is a list of small business certifications you need to explore.TRANSCRIPT
Small Business
Certifications: Do
You Qualify?
Leveling the Playing Field for
Small Business Owners
Small business owners face challenges when competing
against larger competitors with deep pockets.
Without access to capital, the odds are stacked against you.
However, there is help.
*Glassdoor.com.
Federal, state and local government officials offer a
percentage of projects to qualified small businesses. First,
though, you must get certified.
Small business certification gives you
the opportunity to compete for
government contracts.
• You can qualify based upon
minority or disadvantaged status.
• Based on certification, the
qualified agency will review you for
eligibility.
Visit the U.S. Small Business
Administration. Certification
eligibility is based on:
• Size of your business (industry-
specific based on number of
employees), or
• On sales volume averaged over a 3-
year period.
SBA.gov
*Glassdoor.com.
Required qualifications:
• 51% or more of the business
must be U.S.-woman owned.
• Legal resident aliens are
eligible.
• Women business owners must
prove to be active managers.WBE
Required qualifications:
• 51% or more of a for-profit U.S.
company must be owned,
operated and controlled by
minority group U.S. citizens.
• Certifications are conducted
locally or regionally by state
agency minority-owned business
councils.
MBE
Required qualifications:
• Federal law mandates requirements for
DBEs.
• The U.S. Department of Transportation
oversees certification requirements.
• 51% or more of the business must be
owned and controlled by one or more
socially and economically
disadvantaged persons.
SDB & DBE
Required qualifications:
• 51% of the business must be owned
and controlled by one or more socially
and economically disadvantaged.
• Musts be citizens of the U.S. and
demonstrates potential for success.
• For federal procurement only.
8(a)
Required qualifications:
• 51% or more of the business
must be owned by one or more
U.S. military, naval or air service
disabled veterans.
• For any type of business.
DVBE
Required qualifications:
• Must be located in a HUB
location with 35% or more of the
employees living in the area as
well.
• If qualified, your business gets
preferential access to federal
procurement opportunities. HUB
Easy. Online. SurePayroll.
For payroll and tax tips, small
business owners can visit
The Payroll Blog.
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