Navigating the Transitional Stage of the 8(a) Program
Once a company has gained momentum in the 8(a) program, there are new hurdles that must be met to maintain compliance and continue a growth trajectory. Some common pitfalls include poor planning on size standard management (taking on contract awards that increase revenue with little long-term benefits); rapid growth without keeping up with financial and management infrastructure to support growth and compliance requirements; and not upgrading financial and business systems to sustain and support the business.
Our 8(a) Program Transitional Stage Services
Cherry Bekaert’s Government Contracting Advisory team helps 8(a) companies successfully navigate the Transitional Stage of the 8(a) program providing comprehensive services, including:
- Developing and accessing compliance with business systems requirements (accounting, estimating, purchasing, EVMS, materials management and property)
- CMMC readiness and other agency cybersecurity requirements
- Contract administration
- DCAA audit support
- Preparing for your first cost type contract
- Providing proactive tax strategy and planning
- Meeting Business Activity Targets (BATs) of 15-25% to stay eligible for sole source awards and then 35-45%
- Competitive bidding rates
- Executive compensation planning to retain key players
- Teaming and subcontracting with large prime contractors using Mentor-Protégé and Joint Ventures
- State and local tax planning
- Taking advantage of the Research & Development (R&D) tax credit, state R&D credits and other tax credit programs
- Evaluation of international tax and accounting reporting and compliance requirements when doing business overseas (even when the U.S. Federal government is your customer)
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