SBA’s Plans for SBA’s Government Contracting - What You Should Know About the Government Assistance…
The Small Business Administration (SBA) uses the HUBZone program to help small companies bid on federal government contracts. To be eligible, you must meet the qualifications, but you must also recertify every year. To easily determine if your company is eligible, you can check the HUBZone map.
What is the SBA HUBZone Certification?
The SBA facilitates the HUBZone certification with the aim of encouraging growth for small businesses in Historically Underutilized Business Zones (HUBZone). The program strengthens local communities by awarding 3% of contract dollars from the federal government to HUBZone-certified small businesses.
Here are the basic qualifications:
- You must meet the SBA standards to be a small business.
- Your main office must be in the HUBZone area.
- More than 50% of your company must be owned and operated by a US citizen, Indian tribe, or Native Hawaiian organization.
- More than 35% of your employees must reside in a designated HUBZone area.
The SBA offers a preliminary qualification assessment so you can see if you qualify for the HUBZone program.
Why is the SBA HUBZone Certification Important for Your Business?
The SBA HUBZone Certification offers a range of opportunities for underserved communities. As a HUBZone-certified small business, you may experience a range of benefits. Here are a few of the benefits of the HUBZone Program.
- You and your business may bid on sole-source contracts.
- Your business may be eligible for SBA-backed loans to support your business.
- You can access and participate in guidance, and educational programs to help you succeed.
- Your business can partner with other companies to bid on contracts.
You might be surprised to find that you are in a HUBZone area, with zones spread out throughout the US and its territories. Even if you don’t qualify now, you may qualify in the future. Or, you may find other contracting options that will better support your company’s growth.
Take the Next Step With Rafael Marrero & Company
Rafael Marrero & Company is an award-winning management consultancy, with an experienced team who can offer SBA HUBZone certification assistance to you. We’ll discuss your application and guide you through the process to ensure your success.
Learn more about SBA HUBZone certification and find out what other programs can help your company succeed with contract negotiations with the federal government. Contact Rafael Marrero & Company to set up a consultation. We’ll help you get a better sense of how this SBA HUBZone certification can help you grow your business.