Explore the possibilities of small business programs and certifications through the government, guided by the expertise of Great Falls APEX Accelerator Advisors:
Woman-Owned Small Business (WOSB) Certification: The federal government tries to award at least 5% of all federal contracting dollars to women-owned small business each year. To be eligible, a business must be a small business according to SBA size standards. Be at least 51% owned and controlled by women who are U.S. citizens. Have women manage day-to-day operations who also make long-term decisions.
Economically Disadvantaged Woman-Owned Small Business (EDWOSB) Certification: To qualify as an EDWOSB, a business must meet all the requirements of the WOSB Federal Contract Program. Be owned and controlled by one or more women, each with a personal net worth less than $850,000. Be owned and controlled by one or more women, each with $400,000 or less in adjusted gross income averaged over the previous three years. Be owned and controlled by one or more women, each with $6.5 million or less in personal assets.
Service-Disabled-Veteran-Owned Small Business (SDVOSB): The federal government aims to award at least 5% of all federal contracting dollars to SDVOSBs each year. To be eligible, a business must be 51% owned and controlled by one or more service-disabled veterans. Be a small business according to the SBA size standards.
HUBZone Certification: The federal government tries to award at least 3% of all federal prime contracting dollars to HUBZone-certified small business each year. To be eligible for the HUBZone program, your business must qualify as a small business based on the SBA size standards. Be majority-owned and controlled by U.S. citizens, a Community Development Corporation, an agricultural cooperative, an Alaska Native corporation, a Native Hawaiian organization, or an Indian tribe. The principal office of the business must be situated in a designated HUBZone and at least 35% of its employees must reside in a HUBZone. Meeting these requirements enables your business to participate in the HUBZone program. The HUBZone map changed on July 1, 2023. Check the new HUBZone map now to determine whether your principal office and employees are located in a HUBZone.
8(a) Certification: The federal government tries to award at least 5% of federal contracting dollars to small disadvantage business each year. To qualify for the 8(a) program, businesses must meet the following eligibility criteria: They must be classified as small businesses and must not have participated in the 8(a) program previously. They must be majority-owned and controlled by U.S. citizens who are socially and economically disadvantaged. Financial requirements include maintaining a personal net worth not exceeding $850 thousand, an adjusted gross income below $400 thousand, and total assets totaling $6.5 million or less. Businesses must demonstrate good character and show potential for success, such as having operated for a minimum of two years. Once certified, businesses can benefit from the 8(a) program for up to nine years.
Contact Shannon today if you’d like to explore one of these government programs and/or certifications:
Shannon Clancy, CPP
Government Contracting Advisor
SClancy@GrowGreatFalls.org
1-406-590-1184