U.S. Small Business Administration 8(a)
The SBA 8(a) Business Development Program is a business assistance program for small disadvantaged businesses. The 8(a) Program offers a broad scope of assistance to firms that are owned and controlled at least 51% by socially and economically disadvantaged individuals.
- SBA 8(a) Entrance Date: 03/13/2012
- SBA 8(a) Exit Date: 03/13/2021
Federal Woman Owned Business (WOSB)
The WOSB Program is a program that authorizes federal contracting officers to restrict competition (or set aside) certain requirements for competition solely amongst women-owned small businesses (WOSBs) or economically disadvantaged women-owned small businesses (EDWOSBs).
A WOSB firm must be at least 51% owned and controlled by one or more women, and primarily managed by one or more women. The women must be U.S. citizens. The firm must be “small” in its primary industry in accordance with SBA’s size standards for that industry. In order for a WOSB to be deemed “economically disadvantaged,” its owners must demonstrate economic disadvantage in accordance with the requirements set forth in the final rule.
State of New Jersey Small, Woman and Minority Business Enterprise (SWMBE)
SBE – The State of New Jersey small business set-aside program was established with the goal of awarding 25 percent of state contracting and purchase order dollars to small businesses. By registering your small business with the State Small Business Set Aside Program, through the Division of Revenue & Enterprise Services, your company becomes a member of a limited group of vendors eligible to participate in these selected contract offerings
WBE – A majority woman-owned business where:
- The contribution of capital and/or expertise by the woman business owner is real and substantial and in proportion to the interest owned.
- The woman business owner must direct or cause the direction of management, policy, fiscal, and operational matters.
- The woman business owner shall have the ability to perform in the area of specialty or expertise without reliance on either the finances or resources of a firm that is not owned by a woman.
MBE – A minority business enterprise is a for-profit enterprise, regardless of size, physically located in the United States or its trust territories, which is owned, operated and controlled by minority group members. “Minority group members” are United States citizens who are Asian, Black, Hispanic or Native American.
Ownership by minority individuals means the business is at least 51% owned by such individuals or, in the case of a publicly-owned business, at least 51% of the stock is owned by one or more such individuals. Further, the management and daily operations are controlled by those minority group members.
The Port Authority of New York and New Jersey Minority/Woman Business Enterprise
The Port Authority of New York and New Jersey works with hundreds of minority, women-owned, small, and disadvantaged businesses each year procuring goods and services, construction, architectural and engineering work.
DBE – The Disadvantaged Business Enterprise (DBE) regulation that took effect March 4, 1999 (Title 49 Part 26.81 of the Code of Federal Regulations) requires that each state have a “one-stop shopping” certification process. This means that a firm would apply to only one agency for DBE certification, and that agency’s decision would be honored by all other DBE certifying agencies (see below) and all entities within the state that receive funds from the United States Department of Transportation (for example, Metropolitan Planning Organizations and most airports). The NYSUCP began to operate November 30, 2005. There are four agencies in New York State that administer a DBE certification program.
To qualify as a DBE, the business must be owned and controlled by one or more socially and economically disadvantaged persons as defined by DBE Regulation 49 CFR Parts 23 and 26.
Women Business Enterprise National Council WBE
WBENC provides and manages the development, enforcement and implementation of its world-class of certification, which is nationally accepted by thousands of major corporations and a select group of government entities. WBENC certification is a rigorous, multi-faceted business application and review process that is conducted by a trained Certification Review Committee to ensure that women -owned businesses applying for certification are 51 percent owned, operated, and controlled by a woman or group of women. This stipulation is a requirement on which WBENC was founded as a key service to Corporate Members interested in doing business with women-owned businesses.
Better Business Bureau A+
BBB letter grades represent the BBB’s opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business’ grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.
BBB assigns letter grades from A+ (highest) to F (lowest). In some cases, BBB will not grade the business (indicated by an NR, or “No Rating”) for reasons that include insufficient information about a business or ongoing review/update of the business’ file. BBB Business Reviews generally explain the most significant factors that raised or lowered a business’ grade. BBB grades are not a guarantee of a business’ reliability or performance, and BBB recommends that consumers consider a business’ grade in addition to all other available information about the business.
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