Tag: 8a benefits

Is The 8 (a) Program A Waste Of Time?

Posted on by Linette Genao

 

This can definitely be a controversial topic. First and foremost, what is the 8 (a) program?

The 8(a) program is where small disadvantaged businesses can receive assistance from the federal government. Each year, the federal government awards a percentage of federal contracting dollars to small disadvantaged businesses. A huge benefit to a small business, but is it a waste of time?

It can be, if, you do not prepare properly. There is a proper time for you to take advantage of the benefits it offers. Before you jump into the 8 (a) program, we encourage you to first build a foundation, create the company, your organization, your structure and get some experience under your belt. You do not want to waste an opportunity like this, if you are selected for the 8a program. Preparation is key!

You need to know your company and be confident in your structure, organization, and delivery. In the program, you are going to be dealing with the small business development specialists who represent dozens of firms.  A lot of times, you will be getting new specialists who have limited experience in the program, how it works, and how to best help you. The specialists are not familiar with your business. No one is going to be more familiar with your business than you are.

Remember that the program itself does not create the foundation for companies. You have to! You want to maximize all of your success by doing your proper planning. Then again, it’s only a nine-year program and a once in a lifetime thing. Why squander the opportunity?

OUR FINAL VERDICT?

Yes! The 8(a) program is worth it, if you plan properly.

The 8 (a) program takes you from good to great. This is a great opportunity if you are ready and prepare and you want to be ready so that when you get into the program, you can spread like wildfire! What does this mean? Get to planning and preparing!

 

To find out more about the 8(a) program and properly preparing for government contracts, watch the video below. To learn more about government contracting, visit our YouTube Channel..

 

 

 

The SBA 8a Program Transitional Years Explained

Posted on by Eric Coffie
The 8a program is a business development program meant to help people launch, grow and graduate into a successful small business firm. They provide you with the tools and knowledge that you need in order to compete for contracts in the open market.
In short terms, the 8a program will assist you in growing and succeeding as a small-business. They do this by including “transitional years.” Transitional years are the years where you must do work outside of the federal government.
These transitional years serve as steps to slowly push you to find work outside of the 8a sphere. Therefore, by the end of the program, a large chunk of your work must and will derive from elsewhere.
This is good news because when the program ends, you are still in business and can succeed on your own.
Beginning your fifth year, you must start demonstrating a mixture of federal government and non-federal work. The range starts at 15%. By your final year, 55% of your revenue must derive from business outside of the 8a sphere.
If the company fails to comply with these guidelines, they are subject to suspension from the program for up to 1 year. This poses a challenge for budding entrepreneurs who have no private or commercial contracts outside of the federal government.
However, if you follow the guidelines, you will be in a position to continue doing business without the 8a program.
Learn more about 8a certification requirements and how it works via this United States Army Corps of Engineer presentation.
To learn more about government contracting visit the GOVCON GIANTS YouTube Channel.