Which federal small business programs really make you money!!!! How to qualify and apply!

Which federal small business programs really make you money!!!! How to qualify and apply!


– Hello everyone, welcome. And today’s topic is
small business programs in under three minutes. And I’m so excited to bring it to you because let me tell you, regardless of who’s the president, regardless of what economy we have, if it’s up, if it’s down, the federal government is spending $500 billion a year. They’ve been doing it consistently
for the last 10 years. So if you’re looking for
a marketplace to get into and you want to find out
which program is right for you this is the video to watch. Enjoy. Overview of U.S. small business programs. So essentially the federal
government created a goal of 23% of all contract
spending is supposed to go to small businesses. And that goal was created to ensure fairness among small businesses. If you take a look over the 10 year average of contract spending, that’s around $500 billion. So 23% of that would be
approximately $115 billion. And within that 23% there
are some specific groups of people that are focused. And that’s what we’re
gonna talk about today. So let’s get right into it. The women owned and
disadvantage small business where they set aside 5%. Veterans and HUBZones,
3% each respectively. So you’re probably want to ask yourself, “Hey how do I get certified? “What do I have to do? “How do I determine if I’m eligible?” And that’s what we’re
going to talk about next. So for the women, there’s
an online application. In order to be eligible
you must have 51% ownership and be a U.S. Citizen. Your gross income cannot exceed $350,000. Fair market value of all your
assets less than $6 million. And your personal net worth is $750,000. Also you must manage daily operations, make long-term decisions, and work at the business full-time. However, one of the
good things about it is there’s no minimum amount of time that you must be in business. So you could essentially have a start-up and start immediately working
in the government marketplace. Moving on to HUBZone. Your small business must
be primary NAICS code. And if you don’t know what NAICS codes are I do have a video on NAICS
code that you can click on and learn about what they are and how to apply for NAICS code. Also you must maintain your
principal office in a HUBZone and ensure that 35% of your
employees reside in a HUBZone. I’m going to go ahead and link the HUBZone map to this video. If you are anxious, you
can google HUBZone map and it’ll show you basically the areas throughout the United States. And then you must also meet ownership and control requirements which are, again, 51% ownership by a U.S. Citizen. However, you may be owned by Indian tribe, CDC or small agricultural cooperative. Moving on to service-disabled veterans. You must have a
service-connected disability by Department of Veteran Affairs, or DOD. And make control management, daily operation decisions
and be the highest officer. This is pretty easy to qualify. Last but not least small
disadvantage business. Again if you’re not eligible
to be a woman, a veteran, or you don’t meet the criteria for HUBZone you can always apply for
small disadvantage business. Most of us meet these criteria. There is no online application actually, you just register in SAM. And again if you don’t know
what SAM is or how to register, click on one of my videos, tutorials and it walks you right through it. You must be socially and
economically disadvantaged. I’m going to go two slides over
and you’ll see what that is. And then that disadvantaged
person must be 51% ownership and your firm must be small
according to size standards. If you want to take
that small disadvantage up to the next level, the 8a business development program, this is the mac daddy
of programs out there. The most widely used, understood by contracting
officers around the United States. This is the one that I use for my family that I’ve basically
lived and thrived off of for the last nine years. We’ve done probably $15 to
$17 million in this program. There’s an online application at GLS. There’s a 51% ownership
requirement by a citizen. You must be socially
economically disadvantaged, and the business must demonstrate
potential for success. Let’s talk about that. In order to be socially
disadvantaged you must be one of the following
presumed or other groups. And then for the economic disadvantage your gross income cannot exceed $250,000. Fair market value of all
asset less than $4 million. And then your personal net
worth less than $250,000. That’s small business programs
in under three minutes. I hope you enjoyed the video. I’m smiling from ear to ear
because I know that video brought you tremendous value. People have been asking me, “Eric, why don’t you
share this with people, “maybe they don’t know about it?” Guess what, I just
shared it with you guys. So as always if you have any questions, please send me an email
at scorecontracts.com. I’m on all the social media platforms, Instagram, Twitter, Snapchat, Facebook. Find me wherever you can. Talk to you soon. Thanks.

11 comments

  1. Hi, I've seen a few of your videos and I was looking for a mentor to government contracting. I have the necessary components to begin contracting, but I'm looking for someone to guide me through the process. If you are interested in helping, you can reach me at [email protected] Thanks

  2. Hey, thanks for the content. You're channel is full of great info so i'll be subbing and watching your vids avidly. Quick question, for the 8(a) program, one must have at least 2 years experience before they can qualify for that program right? Could I use a shell company in order to get around that headache?

  3. You videos are great and very inspiring!!! I tried to sign up for your class on how to win a contract!!! You seem like you are really trying to help companies get there foot in the door. How can we get additional help from you?

  4. So since men who feel like women is now acceptable, I take it that these women only Federal programs are now available to transgender men as well?

  5. Hi, I have a non profit business yet Im trying to do business with the government and register as a WOSB yet I don't qualify based on the "non-profit" status. Im new at this, any suggestions. Would I have to start my entire process over my registering the business as a for profit, name registration, and etc…please help

  6. Hey, Eric
    Chicago based startup business, in search of financial funds or sponsorship (Restoration and design concept service based company, assisting clients with upgrading their(residential space)or sell their (commercial property), all information is would be extremely appreciated

  7. Hey Eric,
    Thanks for posting, great content.
    You mention in the HUBZone requirements section, about 2:18 in the video, CDC. What is CDC? Thanks in advance.
    Mark

  8. This is a great overview at the U.S. small business programs. My company is MBE certified and we used to be WBENC certified as well. I’m going to pursue the 8A certification next year and I appreciate you sharing the success you had with the program! Thank you for this video.

  9. Hi Eric, If you have been doing 8a programs that are $15M -$17M, how is it that you still meet the personal net worth of $250k or less? Thanks!

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