Socio-Economic Inciators

8(a) - Disadvantaged - Federal

Definition: A special status given to a firm that is owned and operated by persons deemed ot be socially and/or economically disadvantaged. A business considered an 8(a) Firm is eligible to receive financial assistance, training, mentoring and other forms of assistance. 

Why it was created: was created to help small disadvantaged businesses compete in the American economy and access the federal procurement market

Benefits:

  • 5% government-wide goal for contracts to be awarded to 8(a) certified firms
  • Shore can receive sole-source contracts (up to a ceiling of $4 million for goods and services and $6.5 million for manufacturing
  • Contracts require much less paperwork, time and bureaucracy.
  • Contracts cannot be protested, only the size of the 8a participant can be questioned
  • Shore can form joint ventures and teams to bid on contracts. This enhances our ability to successfully compete for and perform larger prime contracts
  • Certification helps Federal, state and local entities hit their annual socio-economic requirements

HUBZone - Federal

Definition: a United States Small Business Administration (SBA) program for small companies that operate and employ people in Historically Underutilized Business Zones (HUBZones)

Why was it created: to stimulate economic development and create jobs in urban and rural communities by providing Federal contracting preferences to small businesses located in these areas.

Benefits

  • 3% government-wide goal for contracts to be awarded to HUBZone certified firms
  • Competitive and sole-source contracts
  • 10% price evaluation preference in full & open contracts opportunities
  • Certfications helps Federal, state and local entities hit their annual socio-economic requirements
  • Recognized by the GSA, Fed & State Contracting

SDVOSB - Federal

Definition: A small business owned by a veteran with a service-related disability as defined by the department of Veteran’s Affairs

Why was it created: To give Service Disabled Veterans the ability to compete in the Federal Marketplace

Benefits

  • Established 3% government-wide prime and subcontracting goals for service disabled veteran owned small businesses
  • Competitive and sole source contracting
  • Certification helps Federal, state and local entities hit their annual socio-economic requirements

Certified by:

Department of Veterans Affairs through the Vets First Verification program

EDWOSB - Federal

Definition: 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. This Certification is part of the WOSB Federal Contract Program with the purpose of increasing equal opportunity for EDWOSBs.

Why was it created: To give women/Economically disadvantaged Women to ability to compete in the Federal Marketplace

Benefits

  • 5% government-wide goal for contracts to be awarded to EDWOSB certified firms
  • Competitive and sole source contracting
  • Certification helps Federal, state and local entities hit their annual socio-economic requirements

DVBE/LA DVBE - State

This certification is to increase the % of contracts that go to DVBE’s in the State of California

Benefits:

  • DVBEs get 5% bid preference on applicable state solicitations. State agencies may use a process, known as the DB/DVBE Option.
  • Certification helps Federal, state and local entities hit their annual socio-economic requirements

DBE - State

Definition: for-profit small business concerns where socially and economically disadvantaged individuals own at least a 51% interest and also control management and daily business operations. 

Benefits:

  • DBEs get 5% bid preference on applicable state solicitations, state agencies may use a process, known as the SB/DBE Option
  • Certification helps Federal, state and local entities hit their annual socio-economic requirements

MBE - State

Definition: Specifically for minorities in the United States

Benefits:

  • Educational programs, networking opportunities, visibility