Federal Certifications
WHAT ARE THE BENEFITS OF HAVING A SOCIO-ECONOMIC CERTIFICATION WITH THE GOVERNMENT?
Obtaining a socio-economic certification for your business might just be the missing piece you’ve been needing. The government is mandated to spend a certain percentage of their annual contract budget with different types of certified businesses. With you and your business being certified, there are a few main benefits:
1. Access to set-aside opportunities. These opportunities are strictly put out to the market for business that are already-certified to pursue.
2. Sole-Source Opportunities. Having a socio-economic federal certification allows the government, under FAR 13.3, to sole-source contracts to certified companies. This means the government can go directly to you, get a quote on your services, and enter into a contract, all without ever going through the competitive RFP process.
3. Access to subcontracting opportunities. When large corporations obtain large contracts from the government, they are often required to subcontract out certain percentages (usually 5% – 20%) to various certified small businesses. This means you now open the doors to other companies seeking you out simply because they have to bring you on board to complete a contract.
ED/WOsb
(woman owned
small business)
Women, and economically disadvantaged women can take advantage of federal spending by getting certified for their majority ownership in a company.
SD/VOSB
(service-disabled veteran owned
small business
The DOD and VA have huge spending budgets for veterans who have served in active duty.
HUB Zone
If your business and some employees are located in a Historically Underutilized Business Zone, this certification may be a great way for you to get price preference on contracts.