Federal Certification Programs:
WOSB & EDWOSB Federal Contracting Program
On February 4, 2011 the SBA released the long awaited Women-Owned Small Business (WOSB)/Economically Disadvantaged Women-Owned Small Business (EDWOSB) Federal Contracting Program.
The WOSB/EDWOSB Program is a set-aside federal contracting program that allows WOSB's and EDWOSB's to compete on a level playing field for Federal Contracting Opportunities. By mandate, the Federal government must award 5% of its prime and subcontract dollars to women-owned small businesses. In these set-aside categories WOSB's/EDWOSB's would be competing for contracting opportunities (bidding) amongst other WOSB's/EDWOSB's only. Anyone not certified in these two categories would not have the opportunity to bid on these Federal Contracts.
In these two categories you would be able to bid on contracts up to $5 Million in the case of manufacturing contracts and $3 Million in the case of service (all other) contracts.
There is no term limit on program participation as long as you are eligible for the program and have met all of the requirements for certification.
As this is a newer program, now is the time to get in on the ground floor so that you will be prepared when the first contracts are released.
WOSB Federal Contract Program Compliance Guide
Federal 8(a) Certification
On March 14, 2011 new 8(a) Business Development Regulations became effective. The revisions are the first major overhaul of the 8(a) program in more than 10 years.
The 8(a) Certification Program is a set-aside federal contracting program that allows socially and economically disadvantaged business to compete on a more level playing field with larger companies.
Some of the most noticeable changes in the 8(a) Business Development Regulations are as follows:
Adjusted Net Worth limits raised from $200,000 to $250,000 (excluding equity in primary residence and equity in business);
Personal Income limits raised from $200,000 to $250,000;
Total Assets must not exceed $4 Million (including equity in primary residence and equity in business);
IRA Accounts are now excluded from Net Worth and Total Assets determination.
8(a) BD Program Compliance Guide
Federal HUBZone Certification
The HUBZone certification program provides federal contracting opportunities for small businesses located in HUBZone's and promotes economic development and employment growth in distressed areas.
Are you a small business?
Determining Business Size
Is your business owned and controlled at least 51% by U.S. citizens?
Is your principal office located in a HUBZone?
Do at least 35% of your employees reside in a HUBZone?
They need not reside in the same HUBZone your office is located in.
Changes to the HUBZone Regulations on May 3, 2010 now allow small businesses to use full-time, part-time, temporary, and leased employees to qualify them as long as these individuals work a minimum of 40 hours per month.
Call us for a free consultation to see if you qualify for any of the Federal Certification Programs referenced above.