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2010 is about to bring many changes in the SBA 8a program
SBA 8a, as we all know is an extremely beneficial certification program that enables economically or socially disadvantaged businesses to obtain different federal contracts and other preferences. This certification is extremely important for small businesses and helps in its growth and development in every possible way. However, obtaining an 8a Certification is a process that demands a lot of time and sincere effort. But you must remember that it is a one time effort with an overwhelming long lasting result. .
On this regard it must be mentioned that the SBA 8a Certification is only given to businesses that are i) small businesses according to the SBA standard, ii) owned and operated by one or more socially or economically disadvantaged U.S. citizens and iii) have the potential to grow and become successful. If your business conforms to all the three basic application eligibility criteria, you can start preparing your application for the 8a Certification.
The Small Business Administration or SBA has announced some new plans for the 8a Business Development program over 2010. Following is a quick update of the kind of changes economically or socially disadvantaged small businesses can expect in the SBA 8a program this year:
1. The most promising plan the SBA has proposed is to bring 10 major changes to the 8a program that are still under consideration. Also there is a proposal for increasing the standardized size of small business, so that more companies can be classified as small businesses and thus receive different benefits including the business contracts that are set aside only for ‘small businesses’. According to industry analysts, these changes will make the program more flexible and increase the opportunity for more companies to take part in the SBA 8a program.
2. The federal agency further has planned to “provide international trade leads to 8(a) firms in order to increase the competitive mix of those firms interested in international trade opportunities” by offering 8a Certified firms its 7(i) Management and Technical Assistance program.
3. In order to help refine 8a and HUBZone programs, the agency’s fiscal year 2010 budget request demands for a $2 million additional funding over last year’s funding level. It says that the extra funding is required to support the otherwise understaffed and under funded SBA 8a program to handle and manage the recent boost in 8a application.
4. In 2010 the SBA 8a program targets to assist at least 9,457 small businesses with government contracting opportunities in order to surpass 2008 levels, which was 9,122.
5. The SBA is further planning to implement a new and highly advanced online tracking tool. This tool will help the agency to monitor the overall performance of 8a certified companies in achieving their business goals in a much better way. It would also provide more efficient technical assistance to the 8a firms.
However, looking at all the proposals and plans of the SBA, it can be assumed that small businesses will have better growth opportunities in 2010. So, let us all keep our hopes high and wait for the modified SBA 8a program to be implemented in the system.
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