3 Myths About 8a Certification Qualifications You Should Know

Do you want to take your business to new heights of financial success and stability within a short time? Remember, nothing is impossible if you have the right aptitude, proper planning and execution. In your case, there's a very profitable medium available to small biz owners called 8a certification, which can help stabilize your finances and get your business on to the highway of success, in just over a few months. All you need to do is apply for the 8a certification qualifications, which by the way is a small business development initiative run by the SBA (Small business administration) an agency under the federal government. Over the years 8a certification qualifications have helped numerous small biz owners to grow their enterprise from scratch, and now they are harvesting the fruits of their labor. You too can make headway and soon enjoy success as an entrepreneur. But, for that to materialize, you should start today. To get going first learn about the three prime myths those are common with 8a certification.

Here I have discussed these 3 myths which you should know prior to submitting your application form with the intention of earning the coveted 8a certification qualifications.

Myth 1: You can't get 8a certified if any of your family members is already certified with the SBA 8a authority.

Not fully true! It holds true only when both the business addresses are in the same premises and if the owner(s) of both the businesses hold more than 51 percent ownership in both the businesses. Otherwise, there is no problem of 8a approval for members of the same family if they're running separate enterprises, operating from different premises, in same or different states or territories, within the same or different market niche.

Myth 2: You cannot get 8a certification qualifications approval from the SBA unless your firm has at least 2 years of market experience.

This is also not necessarily true for all cases. There are some typical requirements to avail this waiver by the 8a applicant firm. Some of these are -

• As the owner of the firm you should have a significant knowhow of the industry concerned as well as the business you have applied for.
• Your firm must show evidence to the SBA that it has successfully performed at least a single federal contract ever since the founding of your business
• Your business firm must produce at least a single tax return document that you have submitted to the authority prior to submitting application for earning 8a certification qualifications.

Myth 3: You cannot get 8a approval if you have been rejected for the same before

This doesn't hold true! A study shows that Small Business Administration (SBA) which looks into the approval process of the 8a certification qualifications disapproves almost 70 percent of all submitted applications in a year. So there's no reason to lose heart. Learn about the different intricacies of the 8a application from an 8a consultant and apply afresh next year. With SBA there's always a next time.

Conclusion: Now that you have learnt about these 3 prime myths concerning 8a certification qualifications, it is high time to get started on a positive note. I fervently suggest you to consult an expert 8a consultant agency in order to judge your 8a eligibility and then follow the consultants' suggestion to earn your coveted small business certification from the SBA. All the best to you!