All about 8 (a) Business Development Program
What is an 8(a) business development program?
The 8(a) certification is a 9-year program sponsored by the Small Business Association to help small and disadvantaged businesses by providing them business training, counseling, marketing, and technical assistance. To join an 8(a) business development program, a business needs to get certified first. The program is divided into two stages wherein the first four years are developmental, and the next five are transitional.
Who is eligible for an 8(a) certification?
To apply for an 8(a) certification , you need to meet the following criteria:
- At least 51% of your firm should be owned by a socially or economically disadvantaged US citizen. (An economically advantaged individual is someone whose average adjusted gross income for the past three years is $250,000 or less, and the true value of his or her assets does not exceed $4 million. )
- You should have documented your sales in a public or commercial marketplace for two years or more.
- You should meet the small business classification as per the primary NAICS Code.
What are the benefits of the 8(a) business development program?
- If you are firm dealing in goods and services and become 8(a) certified, you are entitled to get sole-sourced government contracts up to a maximum value of $4 million on a per-contract basis.
- If you are a manufacturing firm, you can get contracts up to a maximum value of $6.5 million per contract.
- You can also learn from and become partners with larger firms as a part of your 8(a) program benefits. These partnerships act as joint venture agreements to help you enhance your skills in a low-risk environment.
What are the documents required to get an 8(a) certification?
Before applying for the 8(a) certification, you need to get the following paperwork ready.
- Registration with SAM (System for Award Management) and an SBA Form 1010. If you have trouble with SAM registration , it is best to get professionals like Government Acquisition Services for the job.
- Your firm's federal tax returns for the past three years.
- Your firm’s most recent financial statement.
- List of all Federal and non-Federal contracts within the last 12 months.
- State filings, business licenses, loan agreements, and all identification and background information of individual owners claiming social and economic disadvantage.
You can also hire professional agencies like Government Acquisition Services to complete the entire process and focus on the growth prospects of your business.
About Government Acquisition Services
If you want assistance in getting the 8(a) certification, Government Acquisition Services should be your one-stop destination. We have highly qualified consultants with over ten years of experience who will help you navigate the government registration process. Our services include SAM registration, MBE certification, DOT certification, FEMA certification . You can reach out to us at 1-800-799-3942 to know more. You can also fill our online registration form.
