Who The SBA 8(A) Application Serves Best

An SBA 8(a) program assists many businesses with growth and development with the ultimate goal of gaining multi-million-dollar contracts with the government. The government uses this program to help a business gain enough competitive traction to become worthy enough for government contracts. Sounds great, right? Well, hold on there; it only benefits certain types of companies that meet very specific requirements. The following examples of small businesses that actually meet both the requirements and fit with the government contract models are the ones best served by this program. 

Construction

Government agencies need buildings. They need contractors to build those buildings, but they only accept bids. Small construction companies do not have enough traction or power to put in for such big bids, so they miss out. When construction contractors fill out an SBA 8(a) application, they are applying for government assistance to boost their businesses into the competitive arena for those construction bids and contracts. Since construction businesses can also employ socioeconomically disadvantaged individuals to meet the program's main requirement, it is a program match that could not be more perfect. 

Manufacturing

When you have a manufacturing and/or metalworks business, you can put in for this program. More than half of your employees have to come from backgrounds that limit their ability to earn a better living, but it is typically not difficult to find such employees. Anyone with a high school diploma or GED and limited or no college education may fit this requirement as well as people who have several children to support and not enough income. When you are looking to expand your manufacturing business and jump into the competition for government contracts, the SBA 8(a) is a very good way to go about it. 

Engineering

Some of the best engineering projects are government contracts with private sectors. Engineering companies with a handful of employees manage to thrive because of the Small Business Administration's (SBA) many programs. Without such programs, many engineering companies would never get off the ground. (It is not as though engineers can "freelance" their skills and make money digging up projects and clients; they need contracts with steady work.) In order to meet the "socioeconomically disadvantaged" criteria to apply for this particular program, you could hire some office staff and/or assistants who come from those kinds of backgrounds. Additionally, for every engineer working in the business, there should be at least one disadvantaged employee in order to meet the criteria for the program since engineers are not typically considered "disadvantaged" by any means. 

About Me

Troubleshooting Business Every Day

Do you remember the last time you started thinking about what you wanted to do with your life? I didn't think that I would be in a position to think about creating my own business, but here I am. I always wanted to be free with work, which is probably one of the reasons I started thinking about making a solid company. Although I haven't started the business quite yet, I have found it really cathartic to think about how things could play out in the future. Read more on my blog about business and troubleshooting your company each and every day.

Search

Categories

Latest Posts

29 May 2024
If you need quick financing for a real estate project but traditional banks have turned you down, hard money lenders might be the solution you need. T

29 January 2024
Winter is here, and it definitely brings with it some of the colder temperatures we would all rather do without. But, before you crank up your heaters

30 November 2023
If your business relies on propane gas for various operations, you understand the importance of a reliable and efficient supply. However, managing and