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Certification for small business
- 1. © 2012 CAPBuilderNetwork Group All rights reserved Small Business Certification
- 2. © 2012 CAPBuilderNetwork Group All rights reserved Marc Parham, Radio Show Host, MC/Speaker, Infopreneur 2
- 3. © 2012 CAPBuilderNetwork Group All rights reserved The Facilitator • KIMBERLY GRIFFIN • Owner DBE Consulting LLC • International Flight Attendant • Airport Consultant. 10 Minute Manicure - Opened 10 Airport locations in US and Canada). • Owner Operator of Traveling Grace Massage & Spa Services, Inc. RDU Airport • ACDBE, DBE,MBE,WOSB Certified
- 4. © 2012 CAPBuilderNetwork Group All rights reserved Agenda • History of Minority Business Enterprise Programs • Minority Certification History • Why get certified? Why Not? • Benefits of being certified • How do I get CERTIFICATION • Which Certification is right for your business? • NAICS Codes • Where do I Start? • UCP – PERSONAL NET WORTH • On-Site Visit
- 5. © 2012 CAPBuilderNetwork Group All rights reserved History of Minority Business Enterprise Programs • MBE- Minority Business Enterprise • HUB Zone- Historically Underutilized Business • DBE- Disadvantage Business Enterprise • SBA- Small Business Administration 8A Program • SDVOSBC- Service Disabled Veteran-Owned small Business • ALL AFFIMATIVE ACTION PROGRAMS • Federal, State, and Local Government Programs
- 6. © 2012 CAPBuilderNetwork Group All rights reserved History of Minority Certification Programs • 1960 JFK “gradual corrective change” at Federal Government level • 1964 Civil Rights Act • 1968 SBA established 8(a) program • 1969 US of Minority Business enterprise was established via Executive order under President Nixon • 1976 Public Works Bill 10% local set asides for MBEs • 1976 Primes spell out MBE plans • City Of Atlanta becomes the Model and Roles out the “Atlanta Plan” • 1983 MBE program became statutory • 1987 Major amendment * added “WOMEN” • 1989- Supreme Court- Richmond v. Croson MBE unconstitutional
- 7. © 2012 CAPBuilderNetwork Group All rights reserved Minority Certification History •Requires state/local programs to be: • Supported by compelling interest • Narrowly tailored to meet compelling interest. • Which lead to Disparity Studies • Rulings did not affect federal programs • 1995 President Clinton reviewed and decided to “mend it, don’t it”
- 8. © 2012 CAPBuilderNetwork Group All rights reserved Minority Program History Summary • The purpose of the program is to level the playing field in a significant portion of the nation’s economy • Two Essential points of INTEGRITY: • - Certification- screen to determine WHO is a “REAL” MBE/WBE/ACDBEDBE and… • Monitoring- To determine who is really doing the work. • More emphasis on “Race-Neutral”
- 9. © 2012 CAPBuilderNetwork Group All rights reserved Why get certified? Why Not? • City of Atlanta -Disparity study statistics • Hispanics MBEs 3% • African Americans 14% • Women 17% • TO INCREASE THE NUMBERS • Mentor another small business • Open up more doors • Partnerships • Larger contracts
- 10. © 2012 CAPBuilderNetwork Group All rights reserved Benefits of being certified •23% Federal contracts dollars go to Small businesses •5% Federal contracts go to Women •3% federal go to service disabled veteran-owned business
- 11. © 2012 CAPBuilderNetwork Group All rights reserved How do I get CERTIFICATION • In addition to meeting MBE/DBE requirements, firms must also meet separate SBA small business size standards for their type of business • Certain groups are rebuttable presumed to be socially and economically disadvantaged. These include Native Americans, Blacks, Hispanics, Asian-Pacific Americans, Subcontinent Asian Americans, & Women • Each disadvantaged individual seeking certification for his or her firm must submit a notarized certification of disadvantage and a statement of personal net worth
- 12. © 2012 CAPBuilderNetwork Group All rights reserved CERTIFICATION • Ownership and control requirements provide detailed, specific, clarified standards for determining whether to certify firms • Each state has a Unified Certification Program (UCP) that certifies DBEs for all DOT recipients in • Requires on-site visit
- 13. © 2012 CAPBuilderNetwork Group All rights reserved Which Certification is right for your business? • MBE • LSBE • SBE • WOSB • VOSB • DVOSB • Hub Zone • 8A • Dept. of Health/Dept. of Defense/Dept. Agriculture/ …
- 14. © 2012 CAPBuilderNetwork Group All rights reserved NAICS Codes • Private sector certification • WBENC • GMSDC • Requirements • Membership • Renewal • Benefits
- 15. © 2012 CAPBuilderNetwork Group All rights reserved Where do I Start? •Unified Certification Application •Document Checklist •Personal Net Worth
- 16. © 2012 CAPBuilderNetwork Group All rights reserved UCP – PERSONAL NET WORTH •Owner’s share of the assets of the business •Income Statement-net sales, gross profit, net profit after tax, dividends/withdrawals •Working capital
- 17. © 2012 CAPBuilderNetwork Group All rights reserved UCP – PERSONAL NET WORTH • 1. Add Your Assets • Cash on hand (checking and saving accounts) Stocks • Retirement accounts IRAs • Current pension values • Cash value of insurance policies (not death benefits) • Certificates of deposit • Vehicles • House • Other real estate properties • To determine the current market value of your real estate (like your home), you can research recent sales of similar properties in your area, or just consult with a real estate agent. To assess the value of vehicles, check with current market price guides.
- 18. © 2012 CAPBuilderNetwork Group All rights reserved UCP – PERSONAL NET WORTH • 2. Total Your Liabilities • When tallying your liabilities, include these: • Mortgage remaining • Credit card debt • Outstanding auto and student loans • Income taxes due • Taxes due on the profits of your investments (if cashed)
- 19. © 2012 CAPBuilderNetwork Group All rights reserved UCP – PERSONAL NET WORTH •Updates •Net worth expanded from $750K to $1.3 million
- 20. © 2012 CAPBuilderNetwork Group All rights reserved On-Site Visit •Where, Why,
- 21. © 2012 CAPBuilderNetwork Group All rights reserved QUESTIONS
- 22. © 2012 CAPBuilderNetwork Group All rights reserved 22
- 23. © 2012 CAPBuilderNetwork Group All rights reserved
- 24. © 2012 CAPBuilderNetwork Group All rights reserved HOW TO CONTACT ME •[email protected] •Use the Have Questions Popup on the CAPBuilder Network Site •GOTO: www.meetwithmarc.com •Download my FREE Mobile App •CALL Me 770-634-7231
- 25. © 2012 CAPBuilderNetwork Group All rights reserved 25