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9-7-10 Brown Bag - SDVOSB


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Presented by Lisa Carey, Carey Coaching, to the Greater Springfield Chamber and Community Business Partnership 9-7-10

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9-7-10 Brown Bag - SDVOSB

  1. 1. VeteranEntrepreneurship<br />
  2. 2. Veteran Owned Small Business<br />Service Disabled Small Business<br />Why be certified<br />Why the change in certification<br />How do I apply<br />Surprise Audit – how to be ready<br />References<br />Agenda<br />
  3. 3. VOSB<br />SDVOSB<br />Two Types<br />
  4. 4. Veteran Owned Small Business<br />To be considered a Veteran you must have your DD Form 214 in order to prove your service in the Armed Forces. <br />Veteran must control 51% of business and management and daily business operations.<br />VOSB<br />
  5. 5. Service Disabled Veteran Owned Small Business<br />To be considered a Service Disabled Veteran you must have a letter from the Department of Veterans Affairs (VA), or your discharge paper from the branch of service you were in, stating that you have a service connected disability rating ranging from 0 to 100% disability.<br />According to Veterans Affairs, Public Law 106-50, the Veterans Entrepreneurship and Small Business Development Act of 1999, there is no required minimum disability rating. A veteran with a zero-percent rating letter is eligible to self-represent as a Service Disabled Veteran for federal contracting purposes.<br />SDVOSB<br />
  6. 6. Set aside contracts<br />Potential of sole source contracts<br />Shows Contracting Officer that you are a legitimate Veteran Owned/Service Disabled Owned Small Business.<br />Why Apply<br />
  7. 7. SDVOSBs and VOSBs may continue to self-represent their status for all other requirements. However, they are encouraged to have their business verified, as other Federal agencies will have access to the database to search for verified businesses to meet their Federal procurement goals. (557 currently certified in VA)<br />Businesses wishing to sell to all Federal agencies and to other businesses may self-represent their status by answering the five gateway questions on the qualification page to ensure their eligibility as a Veteran, as a service-disabled Veteran (if applicable), that the business is at least 51% owned and controlled by Veteran(s) or service-disabled Veteran(s) and that the business meets Federal small business size standards. <br />Do I have to be certified<br />
  8. 8. In fiscal year 2008, the Small Business Administration (SBA) reported $6.5 billion in sole-source, set-aside, and other SDVOSB contract awards. <br />Investigation into allegations of fraud and abuse within SDVOSB contracts found 10 firms that were ineligible for the program but received approximately $100 million in SDVOSB contracts. <br />Why is it harder<br />
  9. 9.<br />Register in VIP (Veterans Information Portal)<br /><br />VA Form 0877<br />How do I apply<br />
  10. 10. No notice<br />51+% ownership<br />Day to day control of operations<br />Ask questions about current projects<br />Financial Ratio’s – not a deal breaker<br />Audit? What Audit?<br />
  11. 11. The Code of Federal Regulations, authorizes the U.S. Department of Veterans Affairs (VA) Center for Veterans Enterprise (CVE) to examine ownership and control records to verify that the businesses registered in VetBiz Vendor Information Pages (VIP) database are eligible to participate in VA's buying<br />CVE has started conducting the onsite examinations of those companies that have applied to be verified as veteran-owned or service-disabled veteran-owned. Applicant companies should be prepared for a team of one or more examiners to visit their company to examine the necessary documents and records.<br />How can they do this<br />
  12. 12. Checklist<br />Organizational Chart<br />Resumes of Key Personnel<br />Business Plan<br />Financial Statements<br />Financial Ratio’s<br />Work in Progress<br />
  13. 13. Current Ratio: <br />Total Current Assets/Total Current Liabilities<br />Quick Ratio<br />Cash+Accounts Receivable + any other “quick” cash<br /> Current Liabilities<br />Gross Profit Margin and Net Profit Margin<br />Gross Profit Net Profit<br /> Total Sales Total Sales<br />Additional Ratio’s may be appropriate depending on your industry<br />Financial Ratio’s<br />
  14. 14. SBA -<br />Procurement Technical Assistance Centers<br />Center for Veterans Enterprise<br />National Veteran Owned Business Association<br />References<br />
  15. 15. Veteran-owned businesses -- register at the, a Veteran Resources Information website designed to assist veteran entrepreneurs who want to start and expand their businesses in the federal and private marketplace.<br />Consider contacting the VETS GWAC Industry Partners directly for subcontracting opportunities. (approx 40)<br />Consider obtaining a GSA Schedule contract.<br />If not already done, register in CCR - Central Contractor Registration.<br />Monitor opportunities in FedBizOpps.<br />
  16. 16. “ In closing, if you are forming a SDVOSB, try to be an innovator, set you and your company apart from the others.  Every time we turn around we run into another SDVOSB that is starting out and trying to do everything under the sun instead of specializing in an area.  You will see them out there, they claim they can do Information Technology, Mow Grass, Security Guards, Paint Buildings, etc. and they rarely win any contracts.  In our experience, the SDVOSBs that succeed have a niche.”<br />
  17. 17. Lisa Carey<br />Carey Coaching<br /><br /><br />703-455-9125<br />Presented by:<br />