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The PTAC @ Far South CDC provides one-on-one counseling services to existing businesses at no charge. Our services include:
The PTAC conducts multiple seminars and workshops throughout the year that address topics important to all business owners. Seminars and workshops cover topics of Basics of Government Contracting, Creating a Proposal, Certifications, GSA Schedules, etc.
You may take it for granted that your company is a "small business." The distinction is important if you wish to register for government contracting as a small business. Once you register as a government contractor, you must adhere to industry size standards established by the U.S. Small Business Administration (SBA.)
The SBA, for most industries, defines a "small business" either in terms of the average number of employees over the past 12 months, or average annual receipts over the past three years. In addition, SBA defines a U.S. small business as a concern that:
The business may be a sole proprietorship, partnership, corporation, or any other legal form. In determining what constitutes a small business, the definition will vary to reflect industry differences, such as size standards.
Generally, to be approved into the 8(a) Business Development program and become certified the business must meet these eligibility requirements:
The Historically Underutilized Business Zones (HUBZone) program was enacted into law as part of the Small Business Reauthorization Act of 1997 . The program falls under the auspices of the U.S. Small Business Administration. The program encourages economic development in historically underutilized business zones - "HUBZones" - through the establishment of preferences.
SBA's HUBZone program is in line with the efforts of both the Administration and Congress to promote economic development and employment growth in distressed areas by providing access to more federal contracting opportunities.
The SBA regulates and implements the HUBZone program. SBA does the following:
The program’s benefits for HUBZone-certified companies include:
The federal government has a goal of awarding 3% of all dollars for federal prime contracts to HUBZone-certified small business concerns.
To qualify for the program, a business (except tribally-owned concerns) must meet the following criteria:
The regulations vary slightly based on the level of certification. You have local, state and federal certification options. All certifications are consistent that the business must be 51% managed, owned and controlled by one or more women. Refer to the certifying entity for eligibility requirements and application instruction.
The regulations vary slightly based on the level of certification. You have local and state certification options. All certifications are consistent that the business must be 51% managed, owned and controlled by one or more individuals presumed to be socially disadvantaged. The current, presumed groups are: Black Americans
Hispanic Americans, Native Americans, Asian Pacific Americans, Subcontinent Asian American. Refer to the certifying entity for eligibility requirements and application instruction.
The need to step up and support, not only our veteran population but our veteran business population is loud & clear. Local, state and federal agencies are now certifying veteran owned businesses for potential contract set asides. As in all other certifications, the business must be 51% managed, owned and controlled by one or more veterans. Opportunity exists for veteran owned business through many local & state agencies but federal wide the goal is in place for Service Disabled Veteran Owned businesses only. The US Veterans Administration does have the VETS First Contracting Program that is open to Veteran Owned Small and Service Disabled Veteran owned small business.
The Veterans Entrepreneurship and Small Business Development Act of 1999 (Public Law 106-50 ) established an annual government-wide goal of not less than 3% of the total value of all prime contract and subcontract awards for participation by small business concerns owned and controlled by service-disabled veterans.
On December 16, 2003, the Veterans Benefits Act of 2003 (Public Law 108-183 ) was passed by Congress. Section 308 of the Act (Public Law 108-183) established a procurement program for Service-Disabled Veteran-Owned Small Business Concerns (SDVOSBC). This procurement program provides that federal contracting officers may restrict competition to SDVOSBCs and award a sole source or set-aside contract where certain criteria are met.
The Small Business Administration has issued an interim final rule, establishing a Service-Disabled Veteran-Owned Small Business Concern Program. This program establishes the criteria to be used in federal contracting to determine service-disabled veteran status; business ownership and control requirements; guidelines for establishing sole source and set-aside procurement opportunities; and protest and appeal procedures for SDVOSB procurements.
A small business owned and controlled by socially and economically disadvantaged individuals must receive DBE certification from the relevant state– generally through the state Uniform Certification Program (UCP). To be regarded as economically disadvantaged, an individual must have a personal net worth that does not exceed $1.32 million. To be seen as a small business, a firm must meet SBA size criteria AND have average annual gross receipts not to exceed $23.98 million.
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Far South Community Development Corporation
853 West 115th Street, Chicago, Illinois 60643
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