Partnering with a small business has always been an effective strategy for growing businesses to expand their reach. However, choosing the right small business partner can be overwhelming, especially for organizations that prioritize diversity, equity, and inclusion in their business practices. In recent years, more and more businesses have started partnering with 8A veteran-owned small businesses, and for good reason. These partnerships provide advantages that go beyond just fulfilling diversity requirements. Here are some of the benefits of partnering with an 8A veteran-owned small business.
1. Access to Government Contracting
The federal government has set goals to award 5% of its contracting dollars to 8A certified businesses. 8A certification is limited to businesses owned and operated by socially and economically disadvantaged individuals. In addition, the program requires businesses to participate in a nine-year development program. By partnering with an 8A veteran-owned small business, your organization also gains access to government contracts that the business is qualified to bid on. This can significantly increase your revenue stream in the long run.
2. Diverse Skillset
8A veteran-owned small businesses are often led by individuals with extensive experience in various fields. As veterans, they have undergone rigorous training and have gained expertise in many fields such as information technology, logistics, finance, and more. Additionally, being an 8A certified business often means that the business has access to resources and relationships that can help them to deliver a diverse range of services.
3. Competitive Edge
Partnering with an 8A veteran-owned small business can give your organization a competitive edge. As mentioned before, the government has set a goal to award contracts to 8A certified businesses. By partnering with an 8A veteran-owned small business, you significantly increase your chances of securing a government contract. This, in turn, gives you a competitive advantage over your competitors and helps you to establish a more stable and diverse customer base.
4. Strong Reputation
Partnering with an 8A veteran-owned small business can also strengthen your organization’s reputation. By partnering with a socially and economically disadvantaged individual, you demonstrate a commitment to diversity, equity, and inclusion. Additionally, 8A veteran-owned small businesses are often known for their quality, timeliness, and innovative approaches to problem-solving. By partnering with such businesses, you align yourself with their values and further establish your reputation as an organization dedicated to excellence.
In conclusion, partnering with an 8A veteran-owned small business is a win-win situation. Not only does it help your organization meet diversity requirements, but it also provides access to government contracting, a diverse skillset, a competitive edge, and a strong reputation. By partnering with an 8A veteran-owned small business, you not only gain a business partner but also an ally in your mission to promote diversity and achieve business success.
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