Hubzone Certificate Offers Small Business Owners to Gain Access Over Federal Contracts

 Hubzone certification has been introduced in order to help the small business owners gain access to federal government contracts. To take advantage of this contract, the small business owners need to possess the 8a or 8m certification. This is managed and administered by the SBA or Small Business Administration.



Benefits of possessing hubzone certification

 

Some of the advantages of possessing a hubzone certification are as follows:

·         Access to loans: A business person registered under SBA program gets to enjoy additional bonding and loan programs accessibility.

·         Cost advantage: The major advantage of a hubzone certification is that the small business owners get some preferential treatment while placing bids for the federal government contracts. The HubZone registered firm enjoys 10% cost advantage on federal contracts, which the non-registered firms cannot.

·         Being a part of Fortune 500: SBA certified firms are selected by the larger companies, many of which are enlisted under the Fortune 500, for assisting them in completing the federal government contracts. Alongside SBA certification, if you have Hubzone Certification The contract value of nearly $550,000 is the minimum amount that the larger firm bids for. So, as a smaller organization you get to have the opportunity of being a part of this huge project and gain potential experience.



Federal Goals are Set on Budget

The fed government sets some goals related to budget to all the government branches. Each year, the goal increases by a certain percentage. With every increase nearly 50% more amount of dollars is added to the hubzone program of the SBA. The annual procurement of all firms certified under hubzone are estimated at around $8 million to $9 million.

Application for hubzone certification

One of the major reasons for applying to get hubzone certification is the lengthy procedure taken by the SBA for granting it. If you apply today and submit the initial application, it would take a minimum of six months to get approval from the SBA. Everyday hundreds of phone calls come from various firms and prospective clients for an expedited service. However, the SBA strictly works on "first come first serve" principle. So, however resourceful you might be, do not expect for an expedited service. Even if your firm is eligible for the SBA certification and might not need the federal contract right now, you should apply for some other certification.

Final Thoughts

Do not ever wait for the time where you have lost a potential contract and need some help in getting access to these federal contracts. Then you would have to wait for another 6 months and it would be a hard time to sustain the business. It is better to get equipped with the certification weapon and use it whenever you are in need. This SBA hubzone certification opportunity is also extended to the startups with a single employee company. It would be a foolish act to let go of this opportunity.

 

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