The Service-Disabled Veteran-Owned Small Business Concern Program (SDVOSBC) requires a business owner to prove ownership and control, as well as establish guidelines for sole source and set-aside procurement opportunities. A business must meet the following specifications to be considered eligible for the SDVOSBC program: Must have a service-connected disability that has been determined by the Department of Veteran Affairs or the Department of Defense
- Must be considered small under North American Industry Classification System (NAICS) code assigned to procurement
- The Service Disabled Veteran must unconditionally own 51%, control and manage daily operations, and hold the highest officer position in their business.
In 1999, the Veterans Entrepreneurship and Small Business Development Act was created. This act has a goal to generate about $15 billion of all prime and subcontracting government contracting dollars for owned and controlled Service-Disabled Veteran-Owned Businesses (SDVOB). The SDVOB program provides a number of sole source contract advantages and exclusive awards only made available to contractors accepted into the program.
Benefits of a Veteran Owned Small Business Certification:
- Ability to bid on Veteran owned small business set- aside solicitations
- 5% of all federal funding is federally mandated to be awarded to a VOSB certified contractor
- Once obtained, you van advertise as a VOSB. You can boast it on your storefront, signage, business card, website letterhead and email signature to attract new business
- Research shows 70% of Americans would prefer to do business with a veteran owned business
- You can drastically reduce the number of competitors you are up against and gain an advantage by concentrating on these types of opportunities where federal regulations are in your favor.
- By being listed as a VOSB, there id a better possibility you will be proactively contacted in regards to fulfilling "no-bid" contracts valued under $25,000
Our VETBIZ (Service-Disabled Veteran Owned Business) Registration includes the following:
- Submission of Identity Verification
- Personal
- Corporate
- Licensing Application Filing
- Employment Verification and Classification
- Submission of VOSB/SDVOSB IRS Federal Tax Accreditation
- Copies of past contracts/proposals
- Payroll Distribution Ledger Summary
- Income tax return notice
- Filing and documenting of the services and Operation agreement
- Legal Structure Agreement completion
Eligibilty Requirements:
- Must be considered a small business by SBA standards
- Owned and controlled 51% or greater by a veteran and U.S citizen
- A U.S Veteran holds the highest officer position and is the highest compensated employee
- Business is properly licensed, structured, registered with the federal and state government
- Veteran has no federal debts or obligations outstanding
- Must be in business for 3 years