If you are a veteran looking to start or grow a business, becoming a recognized veteran-owned business may assist you in obtaining government contracts. Certification gives you an advantage when bidding on contracts and helps your company get contracts from federal organizations that require supplier diversity.
The Small Business Administration (SBA) sponsors the Vets First Verification Program, which permits enterprises owned and controlled by veterans to compete for contracts specified under VA set-asides. The Center for Verification and Evaluation verifies these enterprises in accordance with Title 38, Code of Federal Regulations (CFR) Part 74, and 13 CFR Part 125, which regulate veteran eligibility, ownership, and control.
Before, businesses that wanted to compete for VOSB sole source or SDVOSB set-aside contracts with federal agencies other than the VA just had to self-certify that they were eligible.
The NDAA 2021 final rule establishes a government-wide certification program for enterprises to compete for federal contracts as certified VOSBs or SDVOSBs. Firms must meet the certification standards at all times, including alerting the SBA of a change in circumstances, taking a program examination, and reapplying for certification once their eligibility period expires.
A company must be owned and operated by one or more qualified veterans in order to be accredited. Control by a veteran denotes that the qualifying veteran has ultimate management and supervisory control over the concern's long-term decision-making as well as day-to-day business operations.
If you own a company, becoming a registered woman-owned business can help you get more government contracts and attract new clients. It also helps you stand out from the crowd.
To be eligible for VOSB or SDVOSB certification, you must complete certain requirements and demonstrate that you are an honorably discharged veteran. This can be done by sending in your Form 214 from the Department of Defense, which is your discharge papers from the branch of the military you served in.
Furthermore, your company must be at least 51% owned and operated by veterans. This comprises your company's operations, such as marketing, manufacturing, and sales.
Alternatively, if you are a service-disabled veteran, you can utilize your VA disability rating to substantiate your status. This will provide you with the added benefit of making you eligible for NYS contracting opportunities.
Several documents and pieces of information will be required during the certification procedure. However, it is worth your time and effort to ensure that you are eligible.
The accreditation procedure for any small firm is a long and arduous one. To assist prospective veteran-owned small businesses in navigating these hazards, the SBA provides a variety of support services. With a variety of free tools, the program also assists veterans in navigating the complexity of government contracting and procurement procedures. The Small Business Administration has a committed team of professional small business advocates eager to provide aid and guidance to help navigate this intimidating task. Visit the SBA website or call the small business hotline at 1-888-727-4763 to contact the small business advocates. They are accessible 24 hours a day, seven days a week. Download the SBA Small Business Toolkit to get started.
A company must meet a number of conditions in order to be certified as a VOSB or SDVOSB. For example, the company must be owned and operated by one or more eligible veterans at least 51 percent of the time. Furthermore, the qualified veteran must have ultimate managerial and supervisory control over the company's long-term decision-making as well as day-to-day management.
Furthermore, the eligible veteran must be able to demonstrate that he or she possesses the appropriate licenses and technical knowledge to run the business. If there is a partner, the veteran must have enough management experience to show that he or she is in charge of the partnership.
While a concern is certified as a VOSB or SDVOSB, the SBA will continue to assess it and may require that a firm meet extra requirements to maintain certification. If a company leaves the program on its own, the SBA will decertify it and take it off the list of certified companies.