Businesses within the Small Business Administration (SBA) 8A Program Research Paper

Businesses within the Small Business Administration (SBA) 8A Program - Research Paper fountThe Federal Government of U.S has, since a long time, actively promoted the socio-economic welfare of small businesses. It is for this particular reason that the Small Business Administration (SBA) was founded to ensure that small businesses leave the business acumen and resources to survive and grow in the competitive marketplace. Several opportunities have been provided to small businesses, including the securing of no-bid contracts and granting of prime contracts. In recent years, the 8(a) business development schedule by SBA has gained a lot of attention owing to generous incentives and growth capabilities offered by the SBA for businesses that meet the criteria for this program.The 8A program was introduced by the SBA with the main objective of assisting and facilitating small and separate businesses so that they can compete in the competitive marketplace. The popular 8(a) Business Dev elopment program is specifically targeted towards small businesses that where individuals who are socially and economically separate own and control at least 51% of such businesses (Koprince, 2012). Accordingly, it helps such entrepreneurs to get accessibility to mainstream business in the American market. Furthermore, it helps harness the aspirations of entrepreneurs by securing disposal contracts for such businesses to help them grow. The 8(a) program is separated into two stages the developmental 4 year period and the transitional 5 year period (SBA.gov).The 8(a) program offers several(prenominal) benefits for disadvantaged entrepreneurs. Firstly, the program entails the sole-source no-bid contract which implies that participant businesses shall not have to bid for contracts and shall be the sole providers of the products to be provided low the contractual agreement (SBA.gov). This holds true for contracts under $3.5 million worth of