Your business must demonstrate potential for successĪPPLY to SBA's 8(a) Business Development Program by following these steps, using our customized 8(a) checklist and reading up on additional information before you get started. Small Business Administration published its long-awaited final rule implementing a Small Business Mentor-Protégé Program.Your business must be majority-owned and controlled by socially and economically disadvantaged individual(s).Your business must be qualified as small - Use the size standards tool to understand what firms qualify as a small business.Assistance eligibility to obtain access to surplus government property and supplies and SBA-guaranteed loans and bonding.Turnaround time has remained within their objective of 3 to 5 days. The application process is built almost entirely around self-certification. As of December 6, 2017, SBA has approved 42 Mentor-Protégé arrangements. 8(a) businesses can participate in the Mentor-Protégé Program which helps new 8(a) companies learn the ropes from other experienced businesses. The SBA’s program to meet the Mentor Protégé expansion got underway on October 1, 2016. The Mentor-Protg program is designed to motivate and encourage large business prime contractor firms to provide mutually beneficial developmental assistance to small business, veteran-owned small business, service-disabled veteran-owned small business, HUBZone small business, small disadvantaged business, and women-owned small business concerns.Specialized business training, marketing assistance, counseling and high-level executive development.Sole-source contracts – up to $4 million for goods and services and $6.5 million for manufacturing.The written agreement must: Address how the Mentor’s assistance will help the protg firm meet the goals in its business plan. SBA reviews the agreement and determines if it will meet both parties’ needs 3. What is the 8(a) Business Development Program? The proposed Mentor and Protg pairing draft and submit a written agreement to SBA 2.
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Read on to learn about the benefits, the requirements and how to apply. The 8(a) Program offers executive level business training that helps to keep your small business competitive. Small Business Administration's 8(a) Business Development Program is designed to help small, disadvantaged businesses compete in the federal marketplace.
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