CPAs and Advisors with Your Growth in Mind

Expanding the SBA Mentor-Protégé Program

On July 25, 2016, the Small Business Administration (“SBA”) issued a much-anticipated final rule regarding the government-wide mentor-protégé program for small businesses. All small businesses, not only 8(a)s, will now be able to participate in the mentor-protégé program. The changes will benefit both large and small businesses. Large businesses will now have a larger pool of small businesses to mentor, and additional disadvantaged companies now have the opportunity to participate. The rule specifically states that the mentor-protégé program will now have four new programs: Small businesses; Women-owned small businesses; Service-disabled, veteran-owned small businesses; and Historically Underutilized Businesses. Other notable changes. Read More.

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SBA Confusion and Update

Earlier this month several major news outlets reported that according to a U.S. Department of Commerce study, women-owned businesses receive only 4.7 percent of all Federal contract dollars, falling short of the Small Business Administration’s (“SBA”) goal of five percent. Additionally, the U.S. Department of Commerce found that women-owned businesses are 21 percent less likely to be awarded government contracts. While hard data has not yet been released, in a February testimony to the House Small Business Committee, John Shoraka, Associate Administrator of the SBA’s Office of Government Contracting and Business Development, touted the success of the SBA’s socio-economic programs.. Read More.

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