Why be an Sdb enterprise? There are many opportunities that are available if you can qualify your business as one! Have you ever looked into the possibility of qualifying as an Sdb enterprise?
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What is an Sdb enterprise? It stands for small disadvantaged business!
According to the U.S. government if your company falls into these categories you might qualify!
• Small Disadvantaged Business – a Small Business Concern owned and controlled by socially and economically disadvantaged individuals; and
• Which is at least 51% owned by one or more socially and economically disadvantaged individuals; or in the case of any publicly owned business, at least 51% of the stock of which is owned by one or more socially and economically disadvantaged individuals and
• Whose management of daily operations is controlled by one or more such individuals. The contractor shall presume Black Americans, Hispanic Americans, Native Americans (such as American Indians, Eskimos, Aleuts and Native Hawaiians), Asian-Pacific Americans and other minorities or any other individual found to be disadvantaged by the Administration pursuant to Section 8 (a) of the Small Business Act and
• The business is certified by the SBA as a Small Disadvantaged Business.
• Women-Owned Business Concern – A business that is at least 51% owned by a woman or women who also control and operate it. Control in this context means exercising the power to make policy decisions. Operate in this context means being actively involved in the day-to-day management.
• HUBZone Small Business Concern – A business that is located in historically underutilized business zones, in an effort to increase employment opportunities, investment and economic development in those areas as determined by the Small Business Administration’s (SBA) List of Qualified HUBZone Small Business Concerns.
• Veteran-Owned Small Business Concern – A business that is at least 51% owned by one or more veterans; or in the case of any publicly owned business, at least 51 % of the stock of which is owned and controlled by one or more veterans and the management and daily business operations of which are controlled by one or more veterans.
• Service Disabled Veteran-Owned Small Business – A business that is at least 51% owned by one or more service disabled veterans; or in the case of any publicly owned business, at least 51 % of the stock of which is owned and controlled by one or more service disabled veterans and the management and daily business operations of which are controlled by one or more service disabled veterans. Service disabled veteran means a veteran as defined in 38 U.S.C. 101(2) with a disability that is service connected as defined in 13 U.S.C 101(16).
This short video gives an idea of what can be done by being an Sdb enterprise. I hope you enjoy, learn and think!
The process to get qualified as an Sdb Enterprise is not that difficult and there are many sites that give free information about how to get approved. We will be presenting more information soon but now we will address why you need to consider taking your company along this path.
Despite of what the media is saying there are many businesses that are struggling to survive from the slow recovery of the great recession. A recent government report shows that our nation had a negative GDP growth factor during the year. That means that our economy is still in trouble!
In order to survive and grow your business you must use your creative thinking and ingenuity to seek out the opportunities that exist. The truth is there are opportunities everywhere!
The country’s roads, bridges and the rest of the travel systems are falling apart and the government is seeking to increase funding to deal with the issues.
Did you know that one of the regulations of the Department of Transportation requires that a percentage of work on these projects needs to include Sdbs and women owned businesses?
Most of your major businesses encourage participation with Sdbs, which includes women owned businesses. I’m talking about large companies like Home Depot, Lowes and even Walmart! Yes; you really need to research the possibilities that are there!
The fact is the U.S. government is huge and needs small business to take care of its needs. Each year the government is targeting at least 25% of the government contracts for small business!
Consider that the GSA has thousands of buildings that must be maintained and serviced. All of these contracts are offered through a bidding or negotiating system and they are looking for small businesses to deal with to do the necessary work.
There is some red tape and paperwork involved but the things you need to do to take advantage of the opportunities is well worth the effort!
We’ll look into more areas where you might find some opportunities in the near future!