Requirements and Benefits of a VOSB Certification
If you’re a former armed-forces service member seeking to establish a successful small business after your service has ended, the VOSB Certification may be exactly what your business needs. With advances in technology changing the face of the business world, entrepreneurs are faced with an increasingly competitive landscape, making it tougher than ever to achieve success.
To assist our nation’s Veterans in their journey to business success, the VOSB Certification program was designed to minimize competition and offer opportunities to Veteran business owners that would otherwise not be accessible. Federal set-aside contracts are reserved exclusively for SDVOSB & VOSB Certification entities, with varying restrictions in place to increase the presence of a business.
And why not? After all, research shows that 70% of Americans would prefer to do business with Veteran business owners. Want more information on starting a VOSB. Download our Free White Paper.
Below is a summary of the overall requirements and benefits of a VOSB Certification; for a detailed list, click here for our VOSB Certification Requirements and Benefits Specification Sheet.
Benefits of a VOSB Certification
There are numerous benefits to participating in the VOSB Certification Program. One of the most notable benefits of becoming certified is access to a broader procurement pipeline. Not to mention access to the SBA Office of Veteran Business Development’s resources for business training, counseling, and financial assistance.
Factor in the networking potential via VOSB trade-shows and conferences, as well as the marketing benefits that come with authorization to use the VOSB logo on all company literature and it’s pretty easy to see its value.
If you are a Service-Disabled Veteran, the government has established a requirement of awarding 3% of federal contracts to SDVOSB’s. This equates to billions of dollars and opens up additional opportunity channels in the procurement chain for those disabled during their military service.
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Requirements of a VOSB Certification
To qualify for VOSB classification, you must first qualify as a certified small business. The SBA defines this as a “small business that is independently owned and operated, organized for profit, and not dominant in its field.”
Depending on the industry, size standard eligibility is based on the average number of employees for the preceding 12 months or on sales volume averaged over a 3-year period. For details on a specific industry’s size standard eligibility, please visit https://www.ecfr.gov.
Once you’ve determined you qualify for SBA status, to receive your VOSB Certification, there are some additional stipulations:
- Business must be 51% owned and controlled by a Veteran U.S. citizen
- Veteran must hold highest officer position and receive the highest compensation in the company
- Business must be properly licensed with federal and state government
- Veteran has no federal debts our obligations outstanding
There’s no question that a VOSB Certification can help take your business to that next level of success. And while some businesses attempt to complete the qualification process on their own, having expert assistance navigating the complex world of government contracting can help your company achieve the certification the first-time around and put you on the path to that procurement pipeline as quickly as possible. Check out this blog post and learn more about how government contracting can blaze a trail for your small business.
A note from Select GCR:
Select GCR is a consulting firm committed to helping small and medium-sized businesses achieve growth through government contracting. We identify the best path to success for each individual business and assist in the completion of all necessary registrations and certifications. Our strategic involvement simplifies the overall process and allows business owners to focus efforts on their principle business activities.
We proudly maintain a 97% approval rate with applications and registrations submitted on behalf of our clients. For more information or assistance, please contact us here today!
