Generally, to be approved into the 8(a) Business Development program and become certified the business must meet these eligibility requirements:
- The business must be majority-owned (51 percent or more) by an individual(s).
- The individual(s) must be an American citizen, by birth or naturalization.
- The business must be majority-owned (51 percent or more) and controlled/managed by socially and economically disadvantaged individual(s).
- The individual(s) controlling and managing the firm on a full-time basis must meet the SBA requirement for disadvantage, by proving both social disadvantage and economic disadvantage.
- The business must be a small business.
- The business must demonstrate potential for success.
- The principals must show good character.
Separate eligibility requirements exist for a business that is owned by American Indians, Native Alaskans, Native Hawaiians or Certified Development Companies.
Small Disadvantaged Business Requirements Overview
The firm must be 51% or more owned and control by one or more disadvantaged persons.
The disadvantaged person or persons must be socially disadvantaged and economically disadvantaged.
The firm must be small, according to SBA’s size standards