subject: Federal Contracting For Home Based Mostly Businesses - Can My Home Based Business Get Federal Contra [print this page] Federal Contracting for Home Primarily based Businesses might seem like an oxymoron, however after all it is a mix that could facilitate your win a lot of contracting opportunities. You would possibly be thinking how will a home based mostly business really compete and win federal contracts without being a regular business.
In many ways a home based mostly business may be in an exceedingly position to leverage its location to win contracts that are specifically put aside for little businesses within a HUB zone. Therefore whats a HUB and what its advantage for home based mostly businesses in federal contracting?
The term HUB ZONE could be a federal designation for historically underutilized business. The goal of the program according to SBA is to provide contracting assistance to small businesses located in these economically distressed communities. This assistance includes setting aside federal contracts specifically for tiny businesses among HUB Zones. If you want to leverage your location as a home primarily based business for federal contracting you need to become HUB Zone certified.
Before you get away and take a look at how to get certified or to work out if you're in a HUB zone you must first do an inside evaluation.
- First, is your business registered with the state in that you are doing business in? In most states you would like to register your business with the Secretary of State.
- Secondly, is your business registered along with your native revenue office? You'll need to make sure you have a license to have a business within the county in that you live. This is often very necessary to establishing and maintaining the legitimacy of your business.
- Thirdly, does your business have a tax id? You'll need to register your business with the IRS and receive an Employer Identification Range (EIN).
If you have got done all the items on top of you are ready to check to see if you are located in an exceedingly HUB Zone. You'll check the electronic map on-line and determine if your location is at intervals an existing HUB Zone or in an exceedingly newly qualified HUB Zone area.
Once you've got determined that you're in an exceedingly HUB Zone and wish tackle HUB Zone certification, then get ready for a rigorous review process. A certification agency will review your company and finances to determine if you qualify for the designation.
Securing a HUB Zone certification could be a major step to turning into a successful federal contractor. While several little businesses are successfully without this designation, but those with it are additional engaging to federal consumers and prime contractors as a result of small business that are HUB Zone certified satisfy two put aside funding goals.
Federal Contracting Wrap Up
If you business is clear and prepared to roll with the General Business Needs, then you would possibly be prepared to possess a serious look a federal contracting as a suggests that to grow your startup. Therefore we have a tendency to have lined a way to review your business, given you some ideas of the minimum you will to seem at federal contracting opportunities, however we have a tendency to have not talked about how to urge started. Since the goal of this text to grant you some info we have a tendency to will cover how to get started the subsequent time. Federal Contracting opportunities for startups are possible while not breaking the bank or spending a huge quantity of your time or hiring a chic government consultant!
by: Lillian Mills
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