A Brief Intro into the SBA’s HUBZone Program
The SBA HUBZone program is a federal program that was created to help small businesses located in historically underutilized business zones (HUBZone’s) gain access to government contracts. These zones are typically located in economically distressed areas, such as inner cities or rural areas, and are designated by the Small Business Administration (SBA) as eligible for the program. Sabre88 is headquartered in Newark NJ and has the intent to pursue a HUBZone certification.
Under the program, qualified small businesses located in HUBZone’s are given preference when bidding on government contracts. This can provide a much-needed boost for small businesses that may have otherwise struggled to compete with larger, more established companies. In addition to the preferential bidding treatment, businesses that are certified as HUBZone small businesses are also eligible to receive a 10% price evaluation preference in full and open contract competitions.
To be eligible for the SBA HUBZone program, a business must meet the following criteria:
- It must be a small business as defined by the SBA
- It must be located in a HUBZone
- At least 35% of its employees must reside in a HUBZone
- At least 51% of the business must be owned and controlled by U.S. citizens, or a community development corporation, an agricultural cooperative, or an Indian tribe
To become certified as a HUBZone small business, a company must submit an application to the SBA, along with supporting documentation. The application process can be completed online, and the SBA provides assistance to businesses that need help with the process.
Once a business is certified as a HUBZone small business, it can begin bidding on government contracts. The SBA provides a list of current contracting opportunities on its website, and businesses can also find opportunities through the Federal Business Opportunities website.
The SBA HUBZone program has been successful in helping small businesses located in economically distressed areas gain access to government contracts since 1997. In addition to providing opportunities for small businesses like Sabre88, the program also helps stimulate economic development in these areas by creating jobs and supporting local businesses. Here at Sabre88 we are planning to apply for a HUBZone certification within the coming months, and if you are interested in learning more feel free to contact us. If you own a small business located in a HUBZone, consider applying for the SBA HUBZone program to take advantage of the opportunities it offers.
