In the US market small and medium scale enterprises have ample chances of growth. This is largely because the US economy is the largest in the world and most of the small business units depends more on the local market for a smooth business. The Small Business Administration or the SBA is a federal agency that recognizes small business units and works for their development so that they can survive in the competitive market. It provides an 8a certificate to businesses owned by those who have at some point of time been subjected to racial, ethnic or financial discrimination.
In order to become a sba 8a certification small business the business unit has to fulfill all the criteria put in place by the SBA. The business owner should be from such a community that has suffered some sort of discrimination in the past. In general sense, people who are African American, Native American, Asia Pacific American and Hispanic American are generally regarded to be suitable for having an 8a certificate. Anyone filing an application for an 8a certificate should have the ability to prove the merit of the application by providing testimonials to the claims made. With a growth in the US economy the number of small business organizations with 8a certificates is also on the rise and so the authority is more careful than ever before in certifying a business with an 8a certificate.
Those who are in an economically challenged position can also opt for an 8a certificate. Any business with a net worth less than $250,000 is eligible for having an 8a certificate. However, more than 51 percent of the business has to be owned by a person who fulfills all the criteria for having an 8a certificate. Women run business units can also apply for sba 8a qualification. The Small Business Administration scrutinizes each and every application carefully before issuing a certificate to any organization. The best way to file an 8a certificate application is to take the help of a professional lawyer who has experience in this field. This would make the entire process a lot easier.