There are two assistance programs available to small business owners the range of Business Administration U.S. Small Business Administration (SBA) that could help give your business the boost it needs in tough economic times. Assistance programs, the certification program for small disadvantaged businesses (SDB) and 8 (a) a business development program can be an asset to any company, regardless of the duration of the operation. In addition to increased funding and training, becoming qualified as an SDB or 8 (a) firms can increase their chances of receiving government grants or contracts, federal and state law.
The first step in certification is to understand what a small business, then you need to know the difference between each certification / classification. According to the SBA, a small business is defined as an independent company with fewer than 500 employees, although the definition used for government programs and contracts varies by industry. If you qualify as a small business, to receive SDB or 8 (a) certification, the owner of the business must be economically and socially disadvantaged. However, the main difference between the two classifications is the owner of personal property (I will discuss this later).
In order to be considered socially disadvantaged, the owner should "have been subjected to racial or ethnic prejudice or cultural bias because of their identity as members of the group," according to the SBA. Typically, small business owners, who are Hispanic, Native American, Asian or African-American to fulfill this requirement. An extensive statement saying that "other people can get if they show by a preponderance of evidence that are disadvantaged." As a result, a very ambiguous language, many women small business owners can be considered socially disadvantaged, and, if they can demonstrate to have had a long-term discrimination based on sex. For example, if a woman has to face discrimination from teachers and administrative staff for the Military Academy that he went to school, mostly male, one could argue that discrimination hindered its ability to form a business later in the life.
Women who have been cases of sex discrimination is more likely to be to qualify as socially disadvantaged. Contrary to popular belief, white men are not excluded from the "socially disadvantaged" group. If a white man with a disability or disabled in any way, there is a possibility that could be considered socially disadvantaged. Those who suffer from mental health problems such as depression, or those who feel like they are socially disadvantaged because of religious preference can be described but must demonstrate that it discriminated against solely for these reasons.
Now that you know when it might be considered socially disadvantaged individuals, you need to know if you qualify for the economically disadvantaged. That is, if the difference between the certified SDB and 8 () certified business comes into play. Small business owners can receive SDB certification, if their personal property worth less than $ 750,000. If a small business owner your personal assets do not exceed $ 250,000, can get 8 () Business Development Program. Note: The SBA does not consider home equity as a personal resource. If a company is classified as 8 () business, it is automatically SDB certified. However, not all firms are not SDB 8 (a) companies, because of the personal property qualifier.
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The first step in certification is to understand what a small business, then you need to know the difference between each certification / classification. According to the SBA, a small business is defined as an independent company with fewer than 500 employees, although the definition used for government programs and contracts varies by industry. If you qualify as a small business, to receive SDB or 8 (a) certification, the owner of the business must be economically and socially disadvantaged. However, the main difference between the two classifications is the owner of personal property (I will discuss this later).
In order to be considered socially disadvantaged, the owner should "have been subjected to racial or ethnic prejudice or cultural bias because of their identity as members of the group," according to the SBA. Typically, small business owners, who are Hispanic, Native American, Asian or African-American to fulfill this requirement. An extensive statement saying that "other people can get if they show by a preponderance of evidence that are disadvantaged." As a result, a very ambiguous language, many women small business owners can be considered socially disadvantaged, and, if they can demonstrate to have had a long-term discrimination based on sex. For example, if a woman has to face discrimination from teachers and administrative staff for the Military Academy that he went to school, mostly male, one could argue that discrimination hindered its ability to form a business later in the life.
Women who have been cases of sex discrimination is more likely to be to qualify as socially disadvantaged. Contrary to popular belief, white men are not excluded from the "socially disadvantaged" group. If a white man with a disability or disabled in any way, there is a possibility that could be considered socially disadvantaged. Those who suffer from mental health problems such as depression, or those who feel like they are socially disadvantaged because of religious preference can be described but must demonstrate that it discriminated against solely for these reasons.
Now that you know when it might be considered socially disadvantaged individuals, you need to know if you qualify for the economically disadvantaged. That is, if the difference between the certified SDB and 8 () certified business comes into play. Small business owners can receive SDB certification, if their personal property worth less than $ 750,000. If a small business owner your personal assets do not exceed $ 250,000, can get 8 () Business Development Program. Note: The SBA does not consider home equity as a personal resource. If a company is classified as 8 () business, it is automatically SDB certified. However, not all firms are not SDB 8 (a) companies, because of the personal property qualifier.
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