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Source : Contractor News
December 15, 2022
Author : Patty Allen
The Small Business Administration (SBA) has launched Small Business Certification Program for businesses of veteran entrepreneurs.
The program enables veteran-owned small businesses (VOSBs) and service-disabled veteran-owned small businesses (SDVOSBs) to obtain certification from the SBA.
In previous years, VOSBs and SDVOBs were certified by the Veterans' Administration (VA). The Final Rule of SBA has proposed that all these businesses are supposed to be verified now by the SBA.
Isabella Casillas Guzman, head of the U.S Small Business Administration, explained, “As we celebrate National Veterans Small Business Week, I am proud that the SBA is designing its new Veteran Small Business Certification Program to be the gold standard in customer experience and support to ensure we grow our base of veteran federal contractors."
The program gives a one-year extension to the new SBA system for all the VA-verified firms. This new rule of the SBA is planned to be effective on January 1, 2023.
After January 1, 2023, new SBA-certified candidates will receive the standard three-year certification period.
Along with the recertification extension, the 2021 National Defense Authorization Act provides a one-year grace period until January 1, 2024 for self-certified SDVOSBs.
Beginning January 1, 2024, veteran and service-disabled veteran small company owners will be required to be certified by the SBA to compete for federal contracting set-asides, unless an application from a self-certified firm is awaiting an SBA decision.