What is Small Business Certification?
What is Certification of a Small Business? Certification of a small business is a review process that gives formal acknowledgment that the business is owned and operated by a qualifying person, which is under represented in an industry. Not all businesses can receive certification. What is the Main Criteria For Becoming Certified? • The business must be independently owned and operated, • Must be organized for profit, and • Is not dominant in its field or industry. To become certified, the business must also meet the definition of “small business” according to the SBA’s standards. This varies depending upon the industry. What is the Definition of “Small Business?” The SBA’s published industry guidelines for 2008 are: Manufacturing: Maximum number of employees may range from 500 to 1500, depending on the type of product manufactured; Wholesaling: Maximum number of employees may range from 100 to 500 depending on the particular product being provided; Services: Annual receipts may not ex
