If you’re a small business owner who is exploring
government contracting programs, you might want to check out the SBA’s HUBZone
Program. HUBZone stands for Historically Underutilized
Business Zone. Basically, it’s an area where business development
and growth has been fairly limited. The HUB Zone Program encourages economic development
by setting aside 3% percent of all Federal prime contracting dollars specifically for
HUBZone-certified firms. “3%?” you say. “That doesn’t sound like very
much.” In fact, in 2011, that amounted to just over 9.6 BILLION dollars awarded to small
businesses!! In 2012, more than 40% of HUBZone certified
firms won contracts, And the median total value of awards for these
firms was slightly more than $360,000. So, now do we have your attention?
HUBZone certified companies either compete for contracts or are awarded a sole source
contract. When they compete for contracts amongst other HUBZone certified companies,
they compete within a smaller pool of contractors. They also receive a 10% price evaluation preference
in full and open contract competitions…And, of course, one of the biggest benefits of
all is the growth you’ll be bringing into your own community!
So, how do you know if you qualify? Well, HUBZone certification is location-based.
So, the first thing to do is confirm that your business is located within a HUBZone.
You can do that by finding your address on the HUBZone map at: www.sba.gov/content/hubzone-maps.
If you are a small business that’s located in a HUBZone, your next step is to check out
the program’s eligibility requirements and application process. Go to www.sba.gov/HUBZONE
for more information. You can also call in to one of our Tuesday
or Thursday HUBZone Office Hours where a HUBZone team member can answer your questions.
The U.S. Small Business Administration. Helping Small Businesses Start, Grow, and Succeed.