8a = Minority Owned Small Business
Overview
The SBA 8(a) Business Development Program is a certification that businesses with economically and socially disadvantaged owners can receive. Enrollment into the program is contingent on eligibility requirements and only lasts for a total of 9 years. By the end of 2021 only 4910 businesses were actively participating in the program according to the SBA. It is an elite group of businesses, and you could be a part of them.
The 8(a) Business Development Program is a critical opportunity for minority small business owner. By the achievement of your WOSB certification you gain access to government contracts called set aside contracts. Business counseling, procurement guidance, mentorship, training, and financial assistance are all available with WOSB certification – along with other forms of technical and management support.
Purpose of the Program
- Help businesses who are owned and operated by economically and socially disadvantaged people
- Provide training and technical assistance to effectively compete in the Government contracting arena.
- Give disadvantaged business owners opportunities for set aside contracts with low competition
- Management, technical, financial and procurement assistance through the life of the program