A certified 8a firm can participate in federal contracts. They also have the option to receive assistance for bonding or other business requirements. The program allows companies to apply for SBA loans or other forms of government funding. Companies must agree to follow the guidelines of the program, which includes annual reviews and comprehensive evaluations. An 8-aspect company cannot receive more than five times its primary NAICS value, or more than $100,000,000 in sole-source contracts. It must also demonstrate a balance between government and commercial projects. Therefore, it is important to select the right consulting firm. Learn more about the 8a certification requirement before you hire a consultant firm.
You must be able to show that your product meets federal standards to qualify for 8a certification. The federal government sets standards for the quality of products you sell. The federal government purchases bulk, so many companies might be unsure about what the minimum margins are. The maximum profit margin for an 8a-certified company will be approximately six percent.
Federal grants and contracts totaling more than $30 billion are available to certify 8a firms. Depending on the size of the company and its industry, an 8a firm can earn at least $3 million annually. These contracts can also help you make big profits. They are usually large, often exceeding $4 million for manufacturing companies and $65 million for products. You can learn from successful entrepreneurs and get access to surplus government assets by joining a certification program.
