Socio-Economic Certification guarantees you low competition opportunites.
If your business qualifies for any of the Business Development Programs available to small businesses, you should participate. These programs give you certification based on your socio-economic status. Certification qualifies you for set aside contracts that are guaranteed to be given to a small, certified business.
When going through the programs you will have opportunity to learn from Prime contractors when you team up. Primes look for businesses that can fulfil their obligation of set aside contracts. Contracting officers and Prime contractors are required to utilize small, certified businesses to carry out all or portions of their contracts. It’s basically guaranteed revenue.
Types of Certifications
- WOSB – Women Owned Small Business
- EDWOSB – Economically Disadvantaged Women Owned Small Business
- VOSB – Veteran Owned Small Business
- SDVOSB – Service-Disabled Veteran Owned Small Business
- 8(a) Business Development Program – socially and economically disadvantaged
- HUBZone Certification – Historically Underutilized Business Zones