VAMBOA certifiedMany Veteran and Service-disabled Veteran small business owners have been told that they need to make sure their company is certified by the U.S. Small Business Administration (SBA). And for a number of businesses, obtaining a small business certification is vital to the success of their company. But in actuality, the majority of Veteran-owned small business don’t require the certification.

A small business certification is not necessary for companies providing goods and services to the general public. But if a small business ever wants to obtain a government contract, a small business certification is mandatory.

The federal government sets aside nearly $100 billion worth of contracts intended solely for competition among small businesses, including: service-disabled veteran-owned small businesses, disadvantaged small businesses, and women-owned small businesses. To qualify for these contracts, certification is a must.

The government maintains size standards that define the maximum size that a company (and its affiliates) can be to qualify as a small business. Company size is determined through either the number of employees or average annual receipts. Typically, most manufacturing companies with 500 employees or fewer and most non-manufacturing businesses with average annual receipts under $7 million will qualify as a small business. However, there are exceptions that should be viewed on the SBA’s Small Business Size Standards.

According to the SBA, small businesses that want to compete for government contracts need to complete the following actions:

  • Obtain a Dun & Bradstreet (D-U-N-S) Number.  The D-U-N-S number is a unique nine-digit identification number for each physical location of your business. It is free for all businesses required to register with the federal government for contracts or grants. Visit the D-U-N-S Request Service to register.
  • Register your business with the federal government’s System of Award Management (SAM). This registration is sometimes referred to as “self-certifying” your small business, and is the primary database of vendors doing business with the federal government. Federal Acquisitions Regulations (FAR) require that all would-be vendors be registered in SAM prior to the awarding of any contract.

To find out more about certifying your small business, SAM, D-U-N-S numbers and obtaining government contracts for your small business, visit the Register for Government Contracting page at www.sba.gov

The Veteran and Military Business Owners Association (VAMBOA) is a non-profit business trade association that promotes and assists Veteran Business Owners, Service Disabled Veteran Owned Businesses (SDVOB) and Military Business Owners. Small businesses are the backbone of our economy and responsible for job generation. That is why VAMBOA provides its members with Business Coaching, Contracting Opportunities, a Blog that provides information, Networking contacts and other resources. Membership is FREE to Veterans. Join Now!

VAMBOA: Certifying Your Small Business: By Debbie Gregory

vet-conference-2014_crop

Attention female veterans!  Are you interested in starting a technology business?  If so, you may want to find out more and consider participating in next week’s first ever hackathon for female veterans.

What’s a hackathon you ask?  A hackathon is a full day business and app development competition.  The event’s goal is to invite returning veterans to be part of a team focused on building successful startups and to foster a community of veteran entrepreneurship.

SBA Administrator Maria Contreras-Sweet will be participating in the event, Women-VetsInTech Hackathon @ Facebook, as a keynote speaker.  The event will be held at the Facebook Campus, Bldg 15, 1 Hacker Way, Menlo Park, CA on Monday August 25th from 9am to 8pm.

To find out more information or sign up, please visit http://t.co/FDY7G48Yjn.

Money: It’s one of the biggest factors in starting a business. How much do you need and what types of financial products does the U.S. Small Business Administration offer? Join Alexandra Piotrowski, Economic Development Specialist from the Washington Metropolitan Area District Office, as she talks about SBA financial products during a panel discussion at the 2nd Annual Food and Beverage Industry Symposium and Expo on August 25, 2014. In addition, she will answer questions from prospective and current entrepreneurs.

Date: August 25, 2014
Time: 8:30 a.m. to 1 p.m.
Place: Walter E. Washington Convention Center
801 Mount Vernon Place NW
Washington, DC 20001

For more information, visit www.entreedc.com or contact Claudia Herrera or Jacqueline Noisette

SCOREOn August 14, 2014 the U.S. Small Business Administration (SBA) celebrated the 50th anniversary of SCORE.

SCORE, a coalition of experienced and successful businessmen, was officially launched in 1964 as the Service Corps of Retired Executives by then SBA administrator Eugene Foley. From the start, the group was dedicated to the education of entrepreneurs and the formation, growth and success of small business nationwide. SCORE mentors have achieved this goal by providing resources and expertise to maximize the success of existing and emerging small businesses.

Today, SCORE consists of more than 11,000 mentors, serving every state in the country. These men and women share invaluable small business wisdom with today’s small business owners. They help with writing business plans, preparing for obtaining business loans and help small business owners manage their revenue, handle their cash flow and market themselves to build their customer base and hopefully go from small businesses to big businesses.

In its half century existence, the coalition became a non-profit organization and dropped the acronym, but SCORE volunteers are still carrying out the original mission of passing their knowledge on to future generations of American entrepreneurs and innovators. Over the five decades, the volunteers have given back because they’ve accumulated a lifetime’s worth of expertise and have chosen to share what they’ve learned with the people of their communities. Their dedication has helped an estimated 10.5 million entrepreneurs get their businesses off the ground.

See how the mentors at SCORE can help you and your small business at www.score.org

The Veteran and Military Business Owners Association (VAMBOA) is a non-profit business trade association that promotes and assists Veteran Business Owners, Service Disabled Veteran Owned Businesses (SDVOB) and Military Business Owners. Small businesses are the backbone of our economy and responsible for job generation. That is why VAMBOA provides its members with Business Coaching, Contracting Opportunities, a Blog that provides information, Networking contacts and other resources. Membership is FREE to Veterans. Join Now!

VAMBOA: 50 Years of SCORE: By Debbie Gregory