On May 11, 2020 the U.S. Small Business Administration (SBA) published a Final Rule in the Federal Register. Although the focus of the Final Rule is primarily on the WOSB/EDWOSB certification process/requirements (which we will discuss later in this post), there were a few major changes which also directly affect and in our opinion, have a significant impact on 8(a) eligibility requirements for individual-owned companies.
The Small Business Blog
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SBA FINAL RULE: CHANGES TO ECONOMIC DISADVANTAGE REQUIREMENT FOR 8(A) ELIGIBILITY (INDIVIDUAL-OWNED COMPANIES) AND NEW REQUIREMENTS FOR WOSB/EDWOSB CERTIFICATION
8(A) CERTIFICATION: WILL OUTSIDE EMPLOYMENT AND OWNERSHIP IN OTHER COMPANIES IMPACT YOUR APPLICATION?
8(a) Certification: Should You Be Concerned If You Derive More than 70 Percent Of Your Revenue From a Single Source?
For companies just entering the Federal GovCon market, the vast amount of information you are sure to receive from various sources can be overwhelming. You will find that everyone has an opinion or “advice” as to what you should/should not do, so you must be very careful in terms of what pieces of advice you choose to follow. We have seen companies miss out on opportunities or waste time pursuing a futile course of action all because they were following bad advice.
Here are the five steps you need to take to apply for the HUBZone program.