small business

Website

IS YOUR BUSINESS REGISTERED WITH THE DSBS?

IS YOUR BUSINESS REGISTERED WITH THE DSBS? IS YOUR BUSINESS REGISTERED WITH THE DSBS?​ The Dynamic Small Business Search (DSBS) is a free, public database of small businesses registered to sell their products or services to the federal government. The Small Business Administration (SBA) maintains the DSBS, used by contracting officers, prime contractors, subcontractors, and government officials for market research. Small businesses can also use the DSBS to find other small businesses for joint ventures and teaming. ❑ To add your business name to the Dynamic Small Business Search:  Visit the SBA’s Dynamic Small Business Search website.o https://dsbs.sba.gov/search/dsp_dsbs.cfm  Register for an account or log in if you have one.o https://connect.sba.gov/Home/Index Follow the prompts to input;o Your business informationo Your name and business addresso Capabilities Statemento Certifications (other than federal) ▪ You may also opt-in to be included in the Dynamic SmallBusiness Search database during your SAM registration process.o https://sam.gov/content/entity-registration ❑ Verify and submit your information to be included in the databasefor potential government contracting opportunities.

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HOW TO CREATE A SAM.GOV 

HOW TO CREATE A SAM.GOV PROFILE HOW TO CREATE A SAM.GOV PROFILE By: M. Gonzalez – M&A SDC WHAT IS SAM.GOV SAM is a database that government agencies search to find contractors. Using SAM, you’ll be able to certify that your business is eligible for contracts that are reserved for small businesses.  To create your Sam. Gov profile, you must have • To successfully create a Sam.Gov account, you will need to gather the following documents: • Taxpayer Identification Number (TIN): Obtain your organization’s Taxpayer Identification Number (TIN) or Employer Identification Number (EIN). • Bank Account Information: your organization’s bank account information is readily available to link to your Sam.Gov account. • Validation Token: If required, obtain a validation token from the government entity you will be doing business with. Once you have these documents ready, follow these steps to create a Sam.Gov account successfully • Visit the official Sam.Gov website • Click on the “Create an Account” option.  • Choose the type of entity you are registering (e.g., individual or organization). • Choose the type of entity you are registering (e.g., individual or organization). • Fill out the necessary information about your organization, including name, address, and TIN. • Verify your organization’s information and agree to the terms and conditions. Link your bank account to facilitate payments and financial transactions. Submit any required documentation for verification • Once all steps are completed and your information is verified, your Sam.Gov account will be created successfully. CONTACT US info@supplierdiversityconsultants.com

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As a business owner, it is essential to regularly run the following two types of cashflow reports:

As a business owner, it is essential to regularly run the following two types of cash flow reports As a business owner, it is essential to regularly run the following two types of cash flow reports By: M. Gonzalez – M&A SDC 1. **Statement of Cash Flows**: – **Purpose**: Provides a detailed overview of how cash is generated and used by the business over a specific period.– **Importance**:– Helps in assessing the liquidity and solvency of the business.– Identifies cash sources and uses, aiding in effective financial planning.– Pinpoints potential cash flow issues and areas requiring attention.– **Sections**:– Operating Activities– Investing Activities– Financing Activities 1. **Statement of Cash Flows**: 2. **Cash Flow Forecast**: – **Purpose**: Estimates the future cash inflows and outflows, enabling proactive decision- making. – **Importance**:– Assists in predicting cash shortages or surpluses, facilitating better financial management.– Guides investment decisions and planning for capital expenditures.– Essential for setting realistic financial goals and monitoring progress.– **Components**:– Projected Sales Revenue– Expected Expenses– Cash Reserves Evaluation

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The importance of selecting the appropriate UNSPSC for your business.

The importance of selecting the appropriate UNSPSC for your business. The importance of selecting the appropriate UNSPSC for your business. By: M. Gonzalez – M&A SDC Selecting the right United Nations Standard Products and Services Code (UNSPSC) is of great significance for small businesses. The UNSPSC is a widely recognized global coding standard used to classify products and services. Here are several reasons why selecting the right UNSPSC is important for small businesses: 1. Clear categorization: The UNSPSC offers a comprehensive and standardized categorization framework. By selecting the appropriate code, small businesses can better classify their products and services, helping streamline procurement processes and enhance communication with customers, suppliers, and government agencies. United Nations Standard Products and Services Code (UNSPSC) (ungm.org) 2. Improved visibility: When small businesses use the correct UNSPSC, it becomes easier for potential customers and partners to find them. Many online marketplaces, procurement systems, and databases use UNSPSC codes to classify products and services, making it crucial for small businesses to ensure their offerings are easily discoverable.  3. Enhanced competitiveness: Properly categorizing products and services using the UNSPSC allows small businesses to position themselves in the right markets. By selecting the most appropriate code, they can accurately identify their competition, analyze industry trends, and tailor their marketing strategies accordingly. 4. Access to procurement opportunities: Governments and large corporations often require their suppliers to use UNSPSC codes when submitting bids for procurement opportunities. By selecting the correct code, small businesses can effectively participate in these opportunities, increasing their chances of winning contracts and expanding their customer base. 5. Streamlined reporting and analytics: Accurate classification of products and services using UNSPSC codes enables small businesses to generate meaningful reports and conduct valuable data analysis. This assists in understanding sales patterns, identifying growth opportunities, and making informed business decisions. 6. Standardized benchmarking: UNSPSC codes provide small businesses with a consistent framework for comparing their performance with industry peers. This allows for benchmarking against competitors, identifying areas for improvement, and adapting strategies to achieve higher efficiency. 7. Compliance with regulations: Certain regulations and standards may require small businesses to use specific UNSPSC codes when submitting reports or fulfilling legal obligations. By selecting the right codes, small businesses can ensure compliance and avoid potential penalties or reputational damage. Selecting the right UNSPSC is crucial for small businesses as it offers clear categorization, improves visibility, enhances competitiveness, provides access to procurement opportunities, supports streamlined reporting and analytics, facilitates standardized benchmarking, and aids compliance with regulations. Taking the time to properly assign UNSPSC codes can bring significant benefits and contribute to long-term business success. Here is an example for the 8 digits UNSPSC for construction and all the sub codes under the construction category: UNSPSC code 72100000 Building Construction and Support and maintenance and repair services The UNSPSC Code  72100000 is described as:Building Construction and Support and maintenance and repair services It belong to code group UNSPSC code 72100000 Building Construction and Support and maintenance and repair services To this code “72100000” belongs the sub code UNSPSC code 72101500: Building support services UNSPSC code 72101600: Roofing and siding and sheet metal work UNSPSC code 72101700: Concrete work UNSPSC code 72101800: Exterior Cleaning UNSPSC code 72101900: Interior finishing UNSPSC code 72102000: Coating and Caulking and weather and water and fireproofing  UNSPSC code 72102100: Pest control UNSPSC code 72102200: Electrical services UNSPSC code 72102300: Plumbing and heating and air conditioning  UNSPSC code 72102400: Painting and paper hanging  UNSPSC code 72102500: Masonry and stonework and tile setting  UNSPSC code 72102600: Carpentry UNSPSC code 72102700: Flooring service UNSPSC code 72102000: Refurbishing services UNSPSC code 72102900: Grounds maintenance services UNSPSC code 72103000: Site Preparation services

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certification

SBA WOSB and EDWOSB Certification – Self-Certifications vs. Third-Party Certification.

SBA WOSB and EDWOSB Certification – Self-Certifications vs. Third-Party Certification. By: M. Gonzalez – M&A SDC Women-Owned Small Businesses (WOSBs) and Economically Disadvantaged Women-Owned Small Businesses (EDWOSBs) have opportunities to benefit from government contracting programs set aside for their specific designation. WOSBs and EDWOSBs must be aware of the Small Business Administration (SBA) regulations, third-party certification, and compliance requirements to maximize these opportunities. Here’s an overview of key considerations: 1. SBA Certification Programs:         a. Self-Certification vs. Third-Party Certification:             •  WOSBs and EDWOSBs can self-certify or opt for third-party certification through approved certifiers:                    • National Women’s Business Owners Corporation (NWBOC)                                             • https://www.nwboc.org/                    • Women’s Business Enterprise National Council (WBENC)                                             • https://www.wbenc.org/                    • The U.S. Women’s Chamber of Commerce                                             • https://uswcc.org/certification/                    • El Paso Hispanic Chamber of Commerce                                             • https://ephcc.org/certifications             •  Third-party certification adds credibility and may be required for certain contracts.       b. Eligibility Criteria:             •    Ensure your business meets the eligibility criteria for WOSB or EDWOSB status, including ownership, control, and size                               standards.     c. Maintaining Certification:             •  Regularly review and update your documentation to ensure compliance with certification requirements. 2. Compliance to Maintain Eligibility:     a. Size Standards:        •  Regularly monitor and certify that your business remains within the size standards defined by the SBA for your industry.     a. Affiliation Rules:        • Understand and comply with SBA affiliation rules, as affiliation with other businesses may impact your eligibility for set-aside                   contracts.     c. Reporting and Record-Keeping:        •  Maintain accurate and up-to-date records to demonstrate compliance with SBA requirements. This includes financial records,                       ownership documentation, and other relevant information.     d. Site Visits and Audits:        •  Be prepared for potential site visits and audits by the SBA or other government agencies to verify compliance.     e. Timely Updates:        • Notify the SBA promptly of any changes in ownership, management, or other factors that may affect your eligibility. 3. Sole Source Contract Awards:     a. Sole Source Opportunities:        •  Take advantage of sole source contracting opportunities available to WOSBs and EDWOSBs. These contracts can be awarded                       without competition in certain circumstances.     b. Documented Justification:        •  Ensure that sole source contract awards are supported by documented justifications outlining why the contract should be awarded                without competition.     c. Maintaining Good Standing:        • Meeting contract requirements and delivering quality services will contribute to maintaining a good standing with government                     agencies. 4. Ongoing Education:        • Stay informed about changes in SBA regulations and government contracting policies. Participate in training programs and                           workshops to enhance your understanding of compliance requirements. 4. Conclusion:        • Maintaining eligibility for set-aside and sole-source contract awards requires a proactive approach to compliance. Regularly review SBA guidelines, stay informed about updates, and engage with SBA resources to ensure your WOSB or EDWOSB remains in good standing for government contracting opportunities. Additionally, seek legal or professional advice to navigate complex regulations and make informed decisions tailored to your business circumstances.

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Business Certifications Guide for Small Business Owners.

Navigating Uncharted Waters: How Global Supply Chain Disruptions are Reshaping Supplier Diversity Initiatives

Navigating Uncharted Waters: How Global Supply Chain Disruptions are Reshaping Supplier Diversity Initiatives Navigating Uncharted Waters: How Global Supply Chain Disruptions are Reshaping Supplier Diversity Initiatives In recent years, the global supply chain has faced a barrage of disruptions, from the sweeping impact of the COVID-19 pandemic to ongoing geopolitical tensions and the stark realities of climate change. These challenges have thrust the critical issue of supplier diversity into the spotlight, revealing it to be more than a mere corporate social responsibility checkbox but a pivotal component of supply chain resilience. The Pandemic and Beyond: A New Reality for Global Supply Chains The onset of the COVID-19 pandemic was like a shockwave, exposing vulnerabilities in what many believed were robust global supply chains. This sudden realization wasn’t just about the fragility of these networks but also about the lack of diversity and flexibility in sourcing and procurement practices. As companies scrambled to adapt, the role of diverse suppliers began to emerge as a beacon of adaptability and innovation. The Transformative Power of Supplier Diversity Supplier diversity, traditionally viewed within the context of ethical procurement and social equity, has demonstrated its strategic value in building more resilient supply chains. Diverse suppliers, often smaller and more agile, have shown an ability to pivot quickly in response to changing market dynamics, offering innovative solutions that larger, more established suppliers couldn’t match. This agility became a key asset for businesses seeking to navigate the murky waters of supply chain disruptions. Case Studies: Diverse Suppliers Making a Difference Across various industries, there are success stories where diverse suppliers have played a critical role in addressing supply chain challenges. For instance, during the pandemic, several healthcare companies relied on minority and women-owned businesses to ramp up the production of essential medical supplies and personal protective equipment. For example, Orbitform, a minority-owned business based in Michigan adapted its production line to manufacture ventilators and collaborated with other businesses to address the urgent need for ventilators in hospitals. Carmen’s Group, a women-owned business from Canada also stepped up and shifted focus from hospitality to producing much-needed PPE. They retooled their facilities to produce face shields and masks contributing significantly to the local healthcare systems needs. Similarly, in the tech sector, diverse suppliers have been instrumental in providing niche components amidst global shortages, showcasing their capacity to fill critical gaps in times of crisis. Challenges to Supplier Diversity in Crisis Situations However, prioritizing supplier diversity during disruptions is not without its challenges. Economic pressures and the need for immediate solutions can sometimes push diversity initiatives to the back burner. Integrating new diverse suppliers into existing supply chains during a crisis can be a complex process, requiring a balance between immediate needs and long-term strategic goals. The Future of Supplier Diversity Looking ahead, the role of supplier diversity is set to become more prominent. Leveraging technology and innovation, businesses can better integrate diverse suppliers into their core operations, making their supply chains more adaptable and robust. Predictions suggest that supplier diversity will not only continue to grow in importance but will also become a key factor in how companies assess their supply chain risks and opportunities. A Call to Action As we move forward, there’s a growing need for businesses to rethink their approach to supplier diversity. It’s no longer just about meeting quotas or fulfilling corporate social responsibility goals; it’s about recognizing the strategic value of diverse suppliers in building resilient, flexible, and innovative supply chains. Likewise, policymakers play a crucial role in creating environments where diverse businesses can thrive and contribute meaningfully to the economy. The global supply chain disruptions have served as a wake-up call, highlighting the critical importance of inclusive and diverse procurement strategies. Embracing supplier diversity is not just a step towards building more resilient supply chains; it’s a move towards a more inclusive and sustainable global economy.

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Bidding

Check Out these Current and Upcoming Bids Solicitations!

Check Out these Current and Upcoming Bids Solicitations! By: M. Gonzalez – M&A SDC There are several catering and food service bids solicitations currently available in COMMBUYS®, with a significant portion featuring ongoing enrollment options,              •   Catering Conference – Link to the bid              •   Bottled Soda and Related Services – Link to the bid              •   Emergency Assistance Food Services – Link to the bid              •   Bid Name: MassDOT RFR Catering Services – Link to the bid              •   EA Hotel Motel Provider Services – Link to the bid              •   Event Services – Link to the bid              •   RFR 232128 Catering Services, Conference Space, Hotel Room – Link to the bid              •   Restaurant Food Take-out/Delivery Services – Link to the bid              •   Restaurant Food Take-out/Delivery Services – Link to the bid              •   Event and Emergency Services Contracts- Link to the bid               •   MDAR- Conference Service Vendors- Link to the bid              •   Conference Space, Meeting Space and Hotel Accommodations- Link to the bid              •   Conference Space, General Catering Services, and Hotel Accommodations- Link to the bid              •   DCF Meetings16-Conference Space and Catering Services- Link to the bid You can also check out all the newly posted bids on COMMBUYS® each week by visiting this link.

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SAM

System for Award Management (SAM)

System for Award Management (SAM) By: M. Gonzalez – M&A SDC Verifying and maintaining accurate System for Award Management (SAM) information is crucial for qualified small businesses that want to participate in federal contracting. Here are the most important steps for small businesses to verify their SAM information: 1. Access SAM Website:             • Visit the official SAM website at sam.gov. 2. Create and Maintain a SAM Account:             • Ensure that your business has an active SAM account.             • Keep login credentials secure and regularly update passwords. 3. Review and Update Entity Information:            • Log in to your SAM account and review all entity information.            • Make sure that all details, including business name, address, CAGE code,              Taxpayer Identification Number (TIN), and other information, are accurate and up to date. 4. Unique Entity ID (UEI):            • Is a 12-character alphanumeric ID assigned to an entity by SAM.gov.            • Entity registration, searching, and data entry in SAM.gov now require use of the new Unique Entity ID.            • New entities can get their Unique Entity ID at SAM.gov and, by completing an entity registration. 5. TIN Verification:            • Ensure that your Taxpayer Identification Number (TIN) is accurate.            • Verify that it matches the information on file with the Internal Revenue Service (IRS). 6. CAGE Code Verification:            • Confirm that your Commercial and Government Entity (CAGE) Code is correct.            • Update it if there are any changes. 7. NAICS Code Verification:            • Check and verify your North American Industry Classification System codes (NAICS).            • Update them if necessary to reflect your business activities accurately. 8. Financial Information:            • If applicable, update and review your financial information.            • Provide the necessary financial details, especially if your business is pursuing contracts with specific financial requirements. 9. Authorized Representative Validation:            • Ensure that the authorized representative listed in SAM is accurate and has the necessary permissions to update and modify                          information. 10. Complete Representations and Certifications:            • Review and update the representations and certifications associated with your business.            • Make sure they accurately reflect your business status and compliance with applicable regulations. 11. Monitor Expiration Dates:            • Keep track of expiration dates for various certifications and registrations within SAM.            • Renew and update information well before expiration to avoid disruptions in federal contract eligibility. 12.Respond to SAM Notifications:            • Act promptly on any notifications or alerts from SAM, especially those indicating a need for updates or re-verification.            • Renew and update information well before expiration to avoid disruptions in federal contract eligibility. 13. Stay Informed:            •Stay informed about changes to SAM processes and requirements.            • Regularly check official government resources and SAM communications for updates. 13. Seek Professional Assistance:            • If needed, seek assistance from professionals or consultants experienced in government contracting and SAM registration.By regularly reviewing and updating your SAM information, you can ensure that your small business remains qualified and eligible for federal contracts. Regular monitoring and proactive maintenance are key to a successful government contracting strategy. Interested in learning more about SAM.Gov or to schedule a consultation, visit us supplierdiversityconsultants.com.

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Certifications.

Qualifications for DBE/ACDBE Certifications.

Qualifications for DBE/ACDBE Certifications. Qualifications for DBE/ACDBE Certifications. By: M. Gonzalez – M&A SDC A Disadvantaged Business Enterprise (DBE) or an Airport Concessions Disadvantaged Business Enterprise (ACDBE) is a for-profit small business concern that is at least 51 percent owned by one or more individuals who are both socially and economically disadvantaged. In the case of a corporation, 51 percent of the stock is owned by one or more such individuals; and whose management and daily business operations are controlled by one or more of the socially and economically disadvantaged individuals who own it. Eligibility requirements for certification as a DBE/ACDBE are stated in 49 CFR, Part 26 and 23. The following six requirements must be proved by a DBE/ACDBE applicant but do not cover all the requirements found in 49 CFR, Part 26 and Part 23. 1. Social and Economic Disadvantaged: A disadvantaged owner must be a U.S. Citizen (or resident alien) and meet the federal definition of socially and economically disadvantaged as defined in 49 CFR Part 26.67. Presumptive groups include women, Black Americans, Hispanic Americans, Native Americans, Asian-Pacific Americans, Subcontinent Asian-Americans; or other minorities found to be disadvantaged by the regulations or any individual found to be socially and economically disadvantaged on a case-by-case basis. 2. Personal Net Worth: Only disadvantaged people having a personal net worth (PNW) of less than $1.32 million can be considered as a potential qualified DBE. Items excluded from a person’s net worth calculation include an individual’s ownership interest in the applicant firm, and his or her primary residence. 3. Business Size Standard: A firm (including affiliates) must be a small business as defined by the Small Business Administration (SBA). It must not have annual gross receipts over $30.40 million (for ACDBE applicant firms, $56.42 million) in the previous three fiscal years. Depending on the type of work the business performs and if the firm is applying for ACDBE, other size standards may apply. 4. Ownership: Must be a for-profit business concern where socially and economically disadvantaged individuals own at least 51% interest and control management AND daily business operations. 5. Independence: The business must not be affiliated with another firm in such a way as to compromise its independence and control. These include, but are not limited to, such areas as personnel, facilities, equipment, financial and/or bonding support, and other resources. 6. Management and Control: The socially and economically DBE/ACDBE owner(s) must possess the power to direct or cause the direction in the management and policies of the firm and to make day-to-day decisions, as well as long-term decisions on matters of management, policy, and operations. If you would like to obtain more information regarding the above-mentioned certifications contact me at maria@supplierdiversityconsultants.com.

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Business Certifications Guide for Small Business Owners.

Business Certifications Guide for Small Business Owners.

Business Certifications Guide for Small Business Owners. Business Certifications Guide for Small Business Owners. By: M. Gonzalez – M&A SDC Unlocking Opportunities with Business Certifications Business certifications can be a game-changer for small business owners from underrepresented groups. They open doors to government contracts and private-sector prospects. If you’re a small business owner from an underrepresented group, you could be eligible for valuable business certifications that boost your access to government contracts and private-sector ventures. Certifications for groups like women, minorities, LGBTQ entrepreneurs, and more foster supplier diversity, offering unique resources and networks to expand your business horizons. If you’re eligible, here’s a rundown of these certifications and how to get started. Who Offers Business Certifications? Several organizations provide business certifications for diverse small business owners: U.S. Small Business Administration (SBA): The SBA offers programs like the Woman-Owned Small Business (WOSB), HUBZone, and 8(a) Business Development Program to make your business eligible for specific government contracts. Minority-Centered Organizations: Groups like the National Minority Supplier Development Council (NMSDC) provide certifications to help minority entrepreneurs secure private sector opportunities. Other Government and Industry Organizations: State and city governments offer certifications for local contracts. Why Pursue Certification? Business certifications come with various perks to help your company shine and grow:  Access to Contracts: Government and private sector organizations set aside contracts for certified businesses to promote equal opportunities. Joint Ventures: Certification often allows you to partner with other certified businesses to compete for contracts. Management and Technical Assistance: Many programs offer support to help your business thrive. Types of Business Certifications: Here’s a brief overview of some well-known certifications: 8(a) Small Business Certification: Designed to create equal opportunities for socially or economically disadvantaged small business owners, providing access to government contracts. HUBZone Business Certification: Awards at least 3% of federal contract dollars to businesses in historically underutilized areas. Women-Owned Business Certifications: Groups like the Women’s Business Enterprise National Council (WBENC) which supports female business owners with integration into public and private sectors. Minority-Owned Business Certification: Offered by the National Minority Supplier Development Council, it helps integrate minority businesses into the public and private sectors. B Corp Certification: Recognizes for-profit businesses with a social mission and positiveimpact on employees, communities, and the environment. Veteran-Owned Business Certification: Provides opportunities for businesses owned by U.S. Armed Forces veterans. LGBT Business Certification: Supports LGBTQ+ entrepreneurs in accessing contracting opportunities. Small Disadvantaged Business (SDB) Certification: Allows businesses to self-represent  as small, disadvantaged businesses for federal contracts. These certifications are designed to empower underrepresented and disadvantaged entrepreneurs.If you’re eligible, exploring the application process is a smart move to tap into valuable resourcesand opportunities. Resources: SBA – https://www.sba.gov/ WOSB certification information – https://wosb.certify.sba.gov/  HUBZone – https://www.sba.gov/hubzone-program o HUBZone Map – https://maps.certify.sba.gov/hubzone/map#center=44.722800,-103.249700&zoom=4 Small Disadvantaged Business –https://www.sba.gov/federal-contracting/contracting-assistance-programs/small-disadvantaged-business  8(a) Business Development program – https://www.sba.gov/federal-contracting/contracting- assistance-programs/8a-business-development-program NMSDC – https://nmsdc.org WBENC – https://wbenc.org B Corp certification – https://bcorporation.net LGBTQ+ Business Certification – https://nglcc.org/lgbtbe-certification/ MA LGBT Chamber of Commerce –https://malgbtcc.org Veteran Small Business Certification (VetCert) – https://veterans.certify.sba.gov/

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