Making Positive Business Choices

When you apply for the Small Business Association 8(a) Business Development Program, you are going to need to complete a detailed application. This program is designed to help small businesses that are backed by historically and economically underrepresented groups access additional financial assistance and support in order to thrive.

Tip #1: Start by Registering With the System for Award Management

Before you can even begin the 8(a) application process, you have to have your business registered with the government through the System for Award Management (SAM). This is a database that anyone who wants to do business with the U.S. government, from getting government grants to loans to bidding on government contracts, must register with.

You must create a user account for your business and then complete the registration in order to do business with the U.S. government. You need to complete this registration in order to qualify to apply for the 8(a) program. This is a free process.

Tip #2: Check Your History

Second, you are going to want to check your history. In order to qualify, you can't have any criminal records. You can't have any conviction or guilty pleas on your record. If you work in a profession where you carry a certification, you can't be disqualified or suspended from whatever licensing body offers that certification. If you do have a criminal history, unfortunately, you will not be able to qualify for this program.

Tip #3: Wait Until You Have Been Open for a Few Years

The 8(a) program is not designed for brand-new businesses. Instead, it is designed for businesses that have been operating for a few years. You should wait until your business has been open for at least two or three years before applying for the program.

You are going to need to demonstrate that your business is not in debt. You are going to need to show that your business has capital. You are going to need to show that your business will be capable of filling the contracts you would be awarded by the government. You need to be able to show you are running a successful business, and that can only be done if you have a few years of evidence to demonstrate that.

Tip #4: Create a Detailed Owner Resume

You are also going to need to submit a detailed resume as the owner of the business. This detailed resume is a list of every job you have had, using the title as found on your W-2 form for that job. You are going to want to explain your management duties and responsibilities to demonstrate you have the ability to lead. All employment gaps will need to be explained, and you are going to want to cover your education, from college degrees to professional licenses and certifications, in detail. It is very important to get all the details right on your owner's resume.

When it comes to being approved for the 8(a) SBA program, you are going to have to meet lots of criteria and provide extensive documentation that you meet these criteria, which is why it can be helpful to work with a company that offers consultations and assistance with the application. They will have the expertise to make sure your application is approved. Contact a company that offers SBA 8(a) application assistance to learn more.