8(a) certifications are among the most coveted certifications available to small business owners. The ultimate goal of the program is to help a small business become a much larger one through government contracting and mentorship from a similar larger business in the same field. To qualify, the company must be at least 51% owned by socially and economically disadvantaged individuals (African American, Asian, Hispanic, and American Indian). The program is divided into two phases over a 9 year period: a four year developmental period and a five year transition period.
8(a) certified businesses can receive sole-source contracts for up to $4 million for goods and services, and up to $6.5 million for manufacturing. Additionally, one of the best features of the program is the ability of 8(a) firms to receive subcontracts from larger prime contractors, allowing both companies to benefit tremendously. Participants in the program can receive up to $100 million dollars in sole-source contracts!
Another great aspect of this certification is the Mentor-Protégé program. This allows the small business to receive business development assistance from a more mature firm with the goals of enhancing the capabilities of the 8(a) company.
Details of the SBA Mentor-Protégé program can be found here.
The 8(a) Certification requirements are lengthy, but Cayenne’s expertise can ease the application process. We can help with all of the following:
- Business Plan
- Capability Statement
- Operational Plan
- Up to Date Tax Returns
- Business History and Owner’s History
- Organizational Documents
- Organizational Chart
- Letters of Reference
- Economic and Social Narrative
This list of requirements can definitely look overwhelming. Let Cayenne Consulting help you so you can go on running your business. The 8(a) program is one of the best things you can do for yourself and your small business, both now and in the years to come.
Learn More About Our SBA and 8(a) Certification Services
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