Aug 16, 2024
Top 10 Women-Owned Small Business Ideas to Pursue in 2024
There are numerous opportunities for women entrepreneurs. They have indeed made significant strides in many types of businesses and have also shown the world that they are capable of running businesses of different scales very successfully on all offline and online platforms. The global economy is growing, and so are the ideas for women-owned small businesses. They can now explore and run a range of businesses online and offline and can start them with little or no investment as well. Here are the top 10 women-owned small business ideas in 2024. Women-Owned Small Business Ideas Below are a few common and suitable women-owned small business ideas that provide you with the required information, 1. Online Tutoring Women can start an online tutoring business and share their expertise with children, leading to a mutually beneficial situation. They have to acquire the required qualifications in the field and work on structuring a curriculum to help the students excel in their studies. This job offers tremendous flexibility in terms of lesson planning and class scheduling, and it can cater to a global audience base. It can also be paired with online course creation, as it helps in earning a passive income. 2. Graphic […]
Aug 7, 2024
Understanding the SBA’s New Rules for Socio-Economic Certification
The Small Business Administration sets forth a labyrinth of regulations to regulate the inconsistencies across its various programs. The certifications such as women-owned small business, 8 (a) Business Development program, and Disabled Veteran Owned Small Business programs appear straightforward. Still, when we dive deeper, they reveal many subtle and significant differences. Such differences mandate that the set of rules that the SBA has already instituted fails to ensure compliance. This necessitates the need for a more tailored approach and the need for setting up new rules for socio-economic certification. New Rules for Socio-economic Certification The SBA has proposed new rules that aim to make the regulations for socio-economic programs like WOSB, SDVOSB, etc., straightforward. These efforts aim to streamline and simplify the process and relieve business owners of the burden of navigating complex regulations. The new guidelines for the socio-economic certification laid by the SBA focus on consistency. The SBA’a new rule aims at aligning the regulations that govern the WOSB, 8 (a) and SDVOSB certification. With its efforts of harmonizing the rules, SBA aims to eliminate the discrepancies that have long been plaguing the contractors of small businesses and their legal teams. Significant changes in the rules for socio-economic […]
Jul 25, 2024
Navigating the Sole Source Contract
Sole source contracts are the type of contracts that can be issued without any competitive bidding process. This generally happens in situations where only a single business can fulfill the requirements of the federal contract. To be considered a sole source contract, it is important to register the business with the System for Award Management. And the business should participate in any type of contracting program that they qualify for. What are Sole-Source Contract Sole source contracts are a unique type of non-competitive contract. They are defined as any contract that a business enters without any competitive process based on the justification that only one single source exists and that a single-source contractor will be able to fulfill all the contracting requirements. In order to qualify as sole source contractors, their procurement should exceed $10,000 in total value. They should also be qualified as only one viable source of rendering the produce or survival, which is essential for contract fulfillment. The specific conditions and the limitations around the use of sole source contractors are indeed stringent, as their use is stringent and serves as a last resort only. In some instances, the sole source contracts should be publicly published and […]