Sunday, April 28, 2019

Businesses within the Small Business Administration (SBA) 8A Program Research Paper

barteres within the Small Business Administration (SBA) 8A Program - Research Paper ExampleThe Federal Government of U.S has, since a long time, actively promoted the socio-economic welfare of small businesses. It is for this particular reason that the Small Business Administration (SBA) was founded to ensure that small businesses devote the business acumen and resources to survive and grow in the competitive marketplace. Several opportunities have been provided to small businesses, including the securing of no-bid contracts and granting of visor contracts. In recent years, the 8(a) business development program by SBA has gained a lot of attention owe to generous incentives and growth capabilities offered by the SBA for businesses that meet the criteria for this program.The 8A program was introduced by the SBA with the main objective of assisting and facilitating small and deprived businesses so that they can compete in the competitive marketplace. The popular 8(a) Business Develo pment program is specifically targeted towards small businesses that where individuals who are socially and economically disadvantaged own and control at least 51% of such businesses (Koprince, 2012). Accordingly, it helps such entrepreneurs to get accessibility to mainstream business in the American market. Furthermore, it helps harness the aspirations of entrepreneurs by securing judicature contracts for such businesses to help them grow. The 8(a) program is separated into two stages the developmental 4 year period and the transitional 5 year period (SBA.gov).The 8(a) program offers several benefits for disadvantaged entrepreneurs. Firstly, the program entails the sole-source no-bid contract which implies that participant businesses shall not have to bid for contracts and shall be the sole providers of the products to be provided infra the contractual agreement (SBA.gov). This holds true for contracts under $3.5 million worth of

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