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/Federal Contracting/Contracting assistance programs/8(a) Business Development program

8(a) Business Development program

The federal government's goal is to award at least 5% of all federal contracting dollars to small disadvantaged businesses each year.

Content

Program overview

Program benefits

Program qualifications

Apply to get certified as an 8(a) small business

Maintain eligibility and certification

Program overview

Sections 7(j)(10) and 8(a) of the Small Business Act (15 U.S.C. §§ 636(j)(10) and 637(a)) authorizes the U.S. Small Business Administration (SBA) to establish a business development program, which is known as the 8(a) Business Development program. The 8(a) program is a robust nine-year program created to help firms owned and controlled by socially and economically disadvantaged individuals.

Businesses that participate in the program receive training and technical assistance designed to strengthen their ability to compete effectively in the American economy. Also eligible to participate in the 8(a) program are small businesses owned by Alaska Native corporations, Community Development Corporations, Indian tribes, and Native Hawaiian organizations. Small business development is accomplished by providing various forms of management, technical, financial, and procurement assistance.

SBA partners with federal agencies to promote maximum utilization of 8(a) program participants to ensure equitable access to contracting opportunities in the federal marketplace. Once certified, 8(a) program participants are eligible to receive federal contracting preferences and receive training and technical assistance designed to strengthen their ability to compete effectively in the American economy.

To qualify for the 8(a) program, businesses must meet the following eligibility criteria:

Be a small business

Not have previously participated in the 8(a) program

Be at least 51% owned and controlled by U.S. citizens who are socially and economically disadvantaged

Have a personal net worth of $750 thousand or less, adjusted gross income of $350 thousand or less, and assets totaling $6 million or less

Demonstrate good character

Demonstrate the potential for success such as having been in business for two years

8(a) certification lasts for a maximum of nine years. The first four years are considered a development stage and the last five years are considered a transitional stage. Continuation in the program is dependent on staying in compliance with program requirements.

Phronesis Group Consulting works miracles for the unorganized, misinformed, and new business owners who don't have a strategic business game plan. We make our clients' life easier by taking their small business, and helping them grow and transform.

Host or Publisher Anthony Armstrong, MBA Financial Consultant