Latest Update and Business Progression with HUBZone Certification
The Historically Underutilized Business Zone (HUBZone) program is a federal certification program designed to help small businesses in economically underutilized areas gain access to federal contracting opportunities. HUBZone-certified businesses can compete for set-aside contracts and receive a 10% price evaluation preference in full and open competition for certain contracts. In this blog, we will discuss the HUBZone certification process, its benefits, and the latest updates. HUBZone Certification Process To become HUBZone-certified, a business must meet the following eligibility requirements: Location: The business must have a principal office located in a HUBZone. HUBZones are designated by the U.S. Small Business Administration (SBA) based on factors such as income, unemployment rate, and other demographic data. Ownership: The business must be at least 51% owned and controlled by U.S. citizens, a community development corporation, an agricultural cooperative, or an In...