How long do I have to file the SBA 8(a) Business Plan? |
30 days:
SBA requires each newly certified firm to file an 8(a) Business Plan within 30 days of its initial program orientation. (SBA may grant one 15-day extension). If not, you face early termination from the 8(a) program.
Waiting to prepare the 8(a) Business Plan is a costly mistake:
Astute owners of newly certified firms do not wait until their initial orientation session to get their 8(a) Business Plans prepared and submitted. They do so immediately upon notification that they have been approved - or as soon thereafter as possible. Many even begin preparing the plan before they are notified that they have been approved.
Why? Two reasons:
- SBA District Offices typically only schedule 8(a) program orientation sessions for newly certified firms once a month. Some do so even less frequently. Waiting for the initial orientation session in order to start in on your 8(a) business plan simply wastes precious time. Remember, you are in the 8(a) program for exactly 9 years from the date you were approved. Do you really want to shorten that time by a few months?
- Over $300,000,000 in 8(a) contracts are awarded each week. Since you cannot be awarded an 8(a) contract until you have submitted your 8(a) Business Plan - and until it has been approved - delaying means that contracts you could perform will be awarded to other 8(a) companies. That business, as well as any follow-on opportunities that may stem from it, is permanently lost to you - a very costly mistake.
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