SBA 8(a) Program
The SBA 8a Business development program brings many benefits and opportunities to small businesses. The 8(a) Program has become an essential instrument for helping socially and economically disadvantaged entrepreneurs gain access to the economic mainstream of American society. SBA has helped thousands of aspiring entrepreneurs over the years to gain a foothold in government contracting. Participation is divided into two phases over nine years: a four-year development stage and a five-year transition stage.
Some of the many benefits the 8a program features
*Participants can receive sole-source contracts, up to a ceiling of $3.5 million for goods and services and $5.5 million for manufacturing
*8(a) firms are permitted to form joint ventures and teams to bid on contracts. This enhances the ability of 8(a) firms to perform larger prime contracts and overcome the effects of contract bundling, the combining of two or more contracts together into one large contract.
*Federal acquisition policies encourage Federal agencies to award a certain percentage of their contracts to SDBs. To speed up the award process, the SBA has signed Partnership Agreements (PAs) with a number of federal agencies allowing them to contract directly with certified 8(a) firms.
While there are many more benefits to becoming an approved 8a program participant, it is not a simple task. A detailed business plan is required along with a strong financial outlook. Many forms and business information is to be gathered and properly formulated to be submitted to and reviewed by the SBA. Simple errors or missing details would delay and even fail the application.
After approval participation in the program is an ongoing relationship with the Government, quarterly and annual reports are to be maintained and filed. Successfully participating in the program means daily researching and communicating with different agencies.
Business Thru Government 8a Assistance program is more then just an easy way to get approved, allthe elements of qualifying, bidding and winning contracts are part of our service.
Use our FREE Business Assessment Tool and we will contact you with Government Contracting options in your industry, in your area.