Can You Be Leaving Money on the Table? Business Certifications Made Easy!
By Thomas R. Reich
Minority Business Certifications come in several types and some are easier to qualify for than others. In today’s competitive world, could you beleaving money on the table? Felix Zapata, an expert in the field of minority and disadvantaged business certifications. Felix told us “many government “set-asides” or contracts reserved for Certified businesses go unclaimed because businesses do not know they are qualified to apply”
Some of the Minority Business Certifications that are available are:
(MBE) Minority Business Enterprises A minority –owned business is a for-profit enterprise, regardless of size, physically located in the United States of its territories, which is owned, operated and controlled by minority group members. A minority is generally defined as an individual who is African American, Hispanic American, Asian American, or Native American and is elligable for Minority Business Certifications.
(WBE) Women Business Enterprises Business Certifications signifies that a business is owned by a woman or group of women. Government
agencies and corporate procurement offices require third-party verification that a business is owned by a woman or group of women in their fulfillment of “set-asides”and diversity programs. WEB minority business certifications are available to businesses possessing 51% ownership by a woman or group of women.
(8 (a) Certification These Business Certifications are the only one provided by the Federal Government, and is the hardest to qualify for. Only applicants who are members of socially disadvantaged groups and are economically disadvantaged can be considered for approval to this Minority Business Certification program. Many 8(a) applicants become ineligible for 8 (a) business certifications due to the $250,000 net worth limit. This limit is defined as a personal net worth of $250,000 or less, excluding the equity in a personal residence or the business itself.
Felix Zapata hosted this free informational webinar on the merits and qualifications of becoming a recipient of Minority Business Certifications. He covered the different types of minority business certifications in depth, along with the varying qualifications to apply. Could you be leavening contracts unclaimed, low interest loans and government grants behind? Watch the webinar any time you like CLICK HERE Business Certifications, could you be leaving money on the table, and are you eligible for one or more business certifications right now?
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