March 12, 2019  1

Five myths about doing business with the Federal Government

Myth #1 – “Only Big Companies Win Contracts”

Fact – Preferential treatment is actually given to small, minority, woman, handicapped and service disabled owned business. Small businesses get awarded close to 25% of all federal contracts.

Between 1/1/2017 through 10/1/2019: 8(a) firms were awarded $34.5 billion in federal contracts. Of that amount, these 8(a) firms were awarded $14.65 billion through 8(a) competitive set-asides and $19.87 billion through sole-source contracts. Hubzone firms were awarded $2.75  billion through set-asides and $161.15 million through sole-source contracts..

March 12, 2019  1

How to write your 8(a) Business Plan Executive Summary

The Executive Summary is the most important section of your 8(a) Business Plan. It provides a concise overview of the entire plan along with a history of your company. This section describes the fundamental elements of your business, as well as what business you are in, why you are in it, and what you hope to accomplish.

March 8, 2019 1 Comment  1

8(a) Economic Dependency or the 70% Rule Explained

Do you have all your eggs in one basket? Economic Dependence is a significant obstacle to the eligibility of many applicants desiring to gain 8(a) Certification for their business. In fact, it is currently the #1 issue for which we have to turn the greatest number of potential 8(a) applicants away, until the issue is resolved.

February 21, 2019  1

Five SBA 8(a) Business Plan Templates

Each newly certified SBA 8(a) Participant must develop a comprehensive 8(a) business plan (Form 1010c) setting forth its business targets, objectives, and goals.

Typically your 8(a) Business Plan must be submitted within 30 days from the date of its 8(a) program admission. Your 8(a) firm will not be eligible for 8(a) program benefits, including 8(a) contracts, until its 8(a) business plan is approved.

Failure to provide an 8(a) Business Plan in a timely manner and receive approval can result in early termination by the SBA.

February 21, 2019  1

Determine your 8(a) Program Eligibility

Are you exploring the possibility of applying for the SBA 8(a) Program?

Don’t know where to start? The first step is to find out if you meet the SBA’s 8(a) Program eligibility requirements before you decide to take the leap into the complex 8(a) Application.

February 7, 2019  1

Ten Resume Tips for 8(a) Applicants

Every individual claiming disadvantage status, as well as each officer, director, partner, member, key employee or holder of 10% or more ownership interest in the firm applying for the 8(a) Program must submit a detailed personal resume.

Here are 10 important tips to make sure these individual’s resume contain all information required by the SBA.

February 7, 2019  1

Items needed to complete your 8(a) Personal Financial Statement

The following is a detailed list of items needed to complete the Personal Financial Statement section of your 8(a) Application.

Please note, this list may or may not cover every personal asset or liability you may have and should serve as only a general list.

All amounts reported to the SBA must be no older than 30 days old when submitted to the SBA.

February 7, 2019  1

8(a) Program Ownership vs. Control

Control is not the same as ownership. For example a disadvantaged individual may own 51% of the business that is applying for 8(a) Certification but they may be found to not unconditionally control the company by the SBA.

The SBA regards control as including both the strategic policy setting exercised by boards of directors and the day-to-day management and administration of business operations of the business.