8(a)
8(a) Business Development program
What is it?
Authorization was given to the U.S. Small Business Administration (SBA) to establish a business development program, which is a 9-year program created to help firms owned and controlled by socially and economically disadvantaged individuals.
Why do I need it?
The program can be a valuable tool for experienced socially and economically disadvantaged small business owners, who have already been in business for at least two years or more, and are interested in expanding their footprint in the federal marketplace. The 8(a) program offers unique and valuable business assistance.
What can happen once certified?
Efficiently compete and receive set-aside and sole-sources contracts
Receive one-on-one business development assistance for their nine-year term from dedicated focused groups on helping firms grow and accomplish their business objectives
Pursue opportunity for mentorship from experienced and technically capable firms Connect with procurement and compliance experts who understand regulations in the context of business growth, finance, and government contracting
Pursue joint ventures with established businesses to increase capacity
Qualify to receive federal surplus property on a priority basis
Receive free training
Start today!
8a certification summary
The 8(a) Business Development program is a program run by the Small Business Administration (SBA) that provides assistance to small businesses owned and operated by individuals who are socially and economically disadvantaged. There are several financial benefits of being 8(a) certified, including:
Sole source contracts: One of the most significant benefits of being 8(a) certified is the ability to receive sole-source contracts. This means that government agencies can award contracts to 8(a) certified businesses without having to go through the usual competitive bidding process. This can result in a significant increase in revenue for the business.
Set-aside contracts: The government also sets aside a certain percentage of contracts specifically for 8(a) certified businesses. This gives these businesses a better chance of winning government contracts.
Access to mentor-protégé programs: 8(a) certified businesses can also participate in mentor-protégé programs, which allow them to partner with larger companies and gain valuable experience and guidance. This can lead to increased revenue and growth opportunities.
SBA-backed loans: 8(a) certified businesses may be eligible for SBA-backed loans, which often have more favorable terms and lower interest rates than traditional loans.
Overall, being 8(a) certified can provide significant financial benefits for small businesses owned and operated by individuals who are socially and economically disadvantaged.