Entrepreneurs know all too well how challenging and difficult it is owning and running your own business.
It requires your constant attention, ongoing strategizing, motivation and constant problem solving to not only be successful but to also keep your doors open. On of the biggest benefits 8a certification benefits which I will talk about more in a minute.
Add to that the difficulty to competing with larger competitors and the complexity of having smaller pockets (we all can’t spend like the big corporations), it can be stressful to say the least.
That’s why we need a way to standout to get noticed and get a seat at the table to be able to meet and market competitively.
One way to stand out and increase your small business income is through certification.
Obtaining a small business certification can help you gain access to a much larger customer base that buys in huge quantities repeatedly.
It helps you get access to specialized funding, grants, training and mentoring that big businesses don’t get.
There are several types of small business certifications are out there that you could get that can help boost your business sales and generate more revenue than before and it’s not only for “For-Profit” organizations.
Non-Profits can also take advantage of getting small business certified and using it to do business with the federal government.
Top Small Business Certifications to Pursue:
8(a) Certification provides eligible socially and economically disadvantaged businesses development and contract assistance.
Small Disadvantaged Business (SDB) has a 5% government-wide contracting goal.
Historically Underutilized Business Zone (HUBZone) is a contracting preference program designated to stimulate economic development and create jobs for certain geographic areas.
Women-Owned Small Business (WOSB) and Economically Disadvantaged Woman-Owned Small Business (EDWOSB) has a 5% government-wide contracting goal each year. Either self-certified or third-party certified.
Veteran-Owned Small Business (VOSB) and Service-Disabled Veteran-Owned Small Business (SDVOSB) certification can provide access to prime federal government contracts and subcontracts through set-asides. 3% government-wide prime & subcontracting goals.
Minority-Owned Small Business Enterprise (MBE) can provide access to federal DOT government-wide contracting as it has a 10% requirement. Also, construction has a 15% requirement on contracts over $1 million.
Federal, State, City and County
Government agencies at the Federal, State, City and County levels all buy products and services just like you and I (consumers) do.
They buy them every day from almost every imaginable industry but on a much grander scale.
The government buys cleaning services, technical support, software, office supplies, laundry services, real estate services, rentals, machinery, and all types of other products and services. View a list of products and services here
This creates a huge opportunity to get in front of some of the largest customers in the world. Government buyers offer a constant influx of ongoing business opportunities.
They buy more than your average client and they buy in bulk on a larger scale, The government buys even when there’s a recession.
Best of all, the government pays on time, every time. So, how would you like that?
Why Sell to the Government?
Government spends over $500 Billion per year on goods & services
The Small Business Act of 2013 established that 23% of all prime contracts must be awarded to small businesses each year
That means 23% of the $500 Billion spent is $115 Billion dollars went to the small business owner (YOU)
In 2020, over $145.7 Billion when to small businesses (that’s 26%)
$59 Billion was awarded to certified Small Disadvantaged Businesses (10.54%)
$27.1 Billion was awarded to Women-Owned Small Businesses (4.85%)
$23.9 Billion was awarded to Service Disabled Veteran-Owned Small Businesses
View the Government Procurement Scorecard
That makes it a large market worth pursuing. In order to participate, you first have to apply and obtain your small business certification and now is the best time for small businesses to start laying down their foundation.
Don’t know where to start, we can help get you certified, see options here.
Maybe you already have a certification or two, but you need help understanding the landscape, terminology, or you haven't been able to land contracts and are confused about the process, we can help. Visit our How to Win Contracts page