Development of the 8a Business Plan
Each newly certified 8a Participant must develop a comprehensive business plan setting forth its business targets, objectives, and goals. Although the 8a Business Plan is not required to be completed and submitted as part of a Participant’s 8a Application submission, it must be submitted to the SBA servicing office as soon as possible after 8a program admission. Typically the 8a Business Plan must be submitted within 30 days from the date of its 8a program admission or from its attendance at mandatory SBA 8a program orientation. The 8a Participant will not be eligible for 8a program benefits, including 8a contracts, until its 8a business plan is approved.
Failure to provide an 8a Business Plan in a timely manner and receive approval can result in early termination by the SBA.
The 8a business plan must address all 52 of the SBA Form 1010c questions and contain the following information:
(1) A detailed description of any products currently being produced and any services currently being performed by the concern, as well as any future plans to enter into one or more new markets;
(2) The applicant’s designation of its primary industry classification, as defined in § 124.3;
(3) An analysis of market potential, competitive environment, and the concern’s prospects for profitable operations during and after its participation in the 8a BD program;
(4) An analysis of the concern’s strengths and weaknesses, with particular attention on ways to correct any financial, managerial, technical, or work force conditions which could impede the concern from receiving and performing non-8a contracts;
(5) Specific targets, objectives, and goals for the business development of the concern during the next two years;
(6) Estimates of both 8a and non-8a contract awards that will be needed to meet its targets, objectives and goals; and
(7) Such other information as SBA may require.
Updating the 8a Business Plan
Each 8a Participant must annually review its business plan with its assigned Business Opportunity
Specialist (BOS), and modify the plan as appropriate. The 8a Participant must submit a modified plan and updated information to its BOS within thirty 30 days after the close of each program year. It also must submit a capability statement describing its current contract performance capabilities as part of its updated 8a business plan.
As part of the annual review of its 8a business plan, each 8a Participant must annually forecast in writing its needs for contract awards for the next program year.
For companies needing assistance in the development or updating of their 8a Business Plan, please visit www.cloveer.com.