The good news for all the small businesses out there is that the federal government sets aside certain contracts and projects for businesses that women and underprivileged stakeholders run. Contractors and business owners who are interested in pursuing these federal contracts can make fair use of these Government contracts. They can take help from federal contractors like MySetAside to avail these contracts and build their business to a great new level. Before the company can avail of these projects, they must get an official certification or award stating their underprivileged status. The set-aside contractor will help in getting these certifications as well.
Types of small businesses set-asides
The ultimate aim of the SBA or the small business administration program is to help owners of small businesses with an equal foot with that of large companies by helping them bid on government contracts. In order to avail these small businesses of set-aside projects, it is important for the business to exist for a minimum of two years and also have a net worth of about $250,000. There are many different types of small business set-aside projects, and they are as follows.
In order to qualify for this program, a business should have less than $6 million in assets, and its maximum net worth should be $750k. The term status of this program is about nine years.
- Women-owned small businesses:
The government grants about 5% of all the set-aside budget to businesses that are owned by women and who belong to the economically disadvantaged category. In order to qualify for this program, the business should be owned by 51% of women and should have less than $6 million in assets.
- Veteran-owned small business program:
Veteran-owned small businesses also allot certain set-aside contracts. In order to qualify for these contracts, the stakeholders must be veterans, and they should make up about 51% of the strength of the company.
- Hub zone program:
Businesses that are located in demographically disadvantaged locations will qualify under the HubZone program. Businesses that operate in these historically underutilized business zones (HUB) are allotted 3% of the overall federal contract funding. In order to qualify for these programs, the business should be located in the HUB zone and have at least 35% of its employees living here.
How MySetAside helps small businesses with federal contracts
MySetAside is a friendly partner for small businesses who wish to take advantage of the contracts from the federal government. With the help of its highly effective and user friendly web portal, it offers new contract opportunities for small businesses both from the state and the federal government. The portal will alert the businesses when federal and state business contract opportunities are available through the Small Business Administration (SBA) portal, according to their NAICS code. It has a highly curated database of federal contracting information that is specifically tailored to meet the needs of the small business. In order to avail of these facilities, the businesses are only required to register their details and their specializations. MySetAside will match the federal contracting requirements with the business capabilities and help the businesses to secure the contracts.
The best feature of the MySetAside portal is that they offer a thirty-day free trial to all their customer with no hidden fees and other commitments. In order to avail of these free trail, it is not required to give any credit card information. The users are free to cancel or upgrade their portal at any time.
MySetAside Simplifies Government Contract Opportunities
Finding a business opportunity, especially from the federal government, is a challenging joke. MySetAside helps small businesses with up-front information about the different government contracts. It prevents them from going through the strenuous process of finding all the information and applying for government contracts on their own.