8(a) Small Business Development Program
This is a business assistance program for small disadvantaged businesses to help them become competitive in the marketplace by providing resources to help them become competitive. The program is divided into two phases. The first phase is the development stage which is completed in four years. The second phase is the transition stage which is completed in five years. The entire program is completed in nine years which at that time, the individual(s) will have graduated from the program. Individuals are only eligible to participate in this program one-time so we strongly urge each individiual to use caution, ask questions if not sure and utilize resources available to them during the program.
Program Benefits:
- Bid on contracts where the individual is the propriatary owner.
- Build competitiveness and business knowledge.
- Optional Mentor-Protégé Program.
- Opportunity to form teams and alliances with other 8(a) participants to bid on bigger contracts.
Eligibility Requirements
Small businesses must meet the following to be eligible for the SBA 8(a) Small Business Development Program:
- Must be owned and ran by a socially and economically disadvantaged individual.
- Must submit an essay and personal finance information such as income, assets, and net worth to show economic disadvantage.
- Must meet the Size standards to be considered a small business. Click on Size standards above to see if the business meets this requirement.
- The business must show it can be successful. This can be accomplished by being in business for at least two years.
- The business must be owned with no stipulations and operated by one or more disadvantages individuals who are a U.S. Citizen and of Good Character.
To see who qualifies as a socially and economically disadvantaged individual, review specific requirements or for more information, please click on this link 13 CFR 124 to review the 8(a) Business Development Program documents. Information can also be found at http://www.sba.gov.