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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 […]