The Small Business Act ( Sba ) - 1619 Words

According to the Small Business Act (SBA) of 1953; small businesses should receive a fair proportion of federal contracts and those small businesses should have the maximum practical opportunity to participate in federal contracting. The Small Business Act established the Small Business administration (SBA) to aid small businesses and to insure they receive a fair proportion of federal contracts. 3%governmentwide goal for awards go to historically underutilized business zone (HUBZone) small businesses, and 3%governmentwide goal for awards to service-disabled veteran-owned small businesses (SDVOSB). A contract can get counted towards more than one goal: an award to an SDB in a HUBZone that is owned by a service-disabled woman veteran would be counted towards all the goals. The small business set asides says that to qualify â€Å"Total Small Business Set-Aside â€Å"shall be set aside for small business unless the contracting officer determines there is not a reasonable expectation of obtaining offers from two or more responsible small business concerns that are competitive in terms of market prices, quality, and delivery.† This requirement is commonly called the â€Å"rule of two,† and it applies to all purchases that exceed the micro-purchase threshold. Since KSI is a small business intruding to deal mainly with the navy and has all the necessary qualifications as set aside by the HUBZone it can associate to participate in this program. K. Smith, Inc. (KSI) a small floor refinishingShow MoreRelated The Small Business Administration (SBA) Essay examples1665 Words   |  7 PagesThe Small Business Administration (SBA) In July of 1953 the United States Congress amended an act called the Small Business Act. Many believed that the essence of the American economic system of private enterprise is free competition. Also, that only through full and free competition can free markets, free entry into business, and opportunities for expression and growth of personal initiative and individual judgment can be assured. Thus, the Small Business Act was amended. In order to carryRead MoreThe Small Business Administration ( Sba )1236 Words   |  5 PagesAbstract The Small business administration (SBA) was created on July 30, 1953, by President Eisenhower with the signing of the Small Business Act. When it was created, there are some presidents want to stop it and some presidents want to develop it. Therefore, we also can see it active in the United States government on today. In this paper, I will through the background of The Small Business Administration (SBA) to introduce what type of organization is it? What does the organization do? WhoRead MoreThe Small Business Administration (SBA) Essay814 Words   |  4 PagesThe Small Business Administration â€Å"aids, counsels, assists, and protects the interests of small business concerns.† They assist small businesses by providing them with whatever is necessary and will not stop until they get the business to be successful without their assistance. Although they are not able to give the business all of the necessities they need, they do their best and as much as they can do. Their m otto is, â€Å"Aid, counsel, assist, and protect insofar as is possible, the interests of smallRead MoreThe Historically Underutilized Business Zones ( Hubzone )1232 Words   |  5 PagesThe Historically Underutilized Business Zones (HUBzone) is a program created under the Small Business Reauthorization act of 1997. The goal of HUBzone is to â€Å"help small businesses in urban and rural communities gain preferential access to federal procurement opportunities.† The program was designed so an increase in federal contract opportunities could in turn promote employment opportunities, investment, and economic development in designated HUBzones. HUBzones are defined as nonmetropolitan countiesRead MoreExternal Controls Of Small Business Administration1187 Words   |  5 PagesExternal controls of Small Business Administration There are two general approaches to maintaining responsible conduct within public organizations: internal controls and external controls (Terry L. Copper, 2012). In the SBA, there are lot offices can help this agency to do well on the internal controls, they through training, education, formal and informal exchange of ideas and so on to maintain ethical conduct. On the other hand, how are its external controls? From we learn in the class, we knowRead MoreImproving Capital Access Programs Within The Sba1463 Words   |  6 PagesSubcommittee on Economic Growth, Tax and Capital Access (of the Committee on Small Business) entitled ‘Improving Capital Access Programs within the SBA’, discussed ways to give more money to its veteran entrepreneurs. This would be done by changing the loan process within the Small Business Administration. The House report gives the following testimony from, â€Å"a lender authorized to operate in the Loan Program that the initiative would help S BA-guaranteed lenders get needed capital to veterans,† (p.4 HR). ThisRead MoreMaking An Outline For A Business1217 Words   |  5 Pagesabout if you really want a business or not, what type of business you might want to go into and steps that would help you understand the business world and to start the business. ï‚ § Create Your Business Plan- A business plan helps the owner’s succeeds in their business. It outlines the first 3-5 years of the businesses life. There are articles that help you create an outline for a business. ï‚ § Choose Your Business Structure- This lists articles that tell you about each Business structure, so the ownerRead MoreRole Of Contracting Officer And The Small Business Association1417 Words   |  6 PagesThe purpose of this paper is to provide an overview of the small business set-aside program and its intent. We will look at the role the contracting officer and the Small Business Association (SBA) play in the making the determination to set-aside acquisitions specifically for small business set-asides and the factors they consider when making those decisions/determinations. There are certain criteria that must be met and we will discuss those criteria in relation to the type of set-aside and theRead MoreThe Department Of Defense Subcontracting Plan Programs, Acts, And Policies Essay1248 Words   |  5 PagesDepartment of Defense subcontracting plan programs, Acts, and policies that are in effect. Furthermore, will detail the type of subcontracting plans, when they apply, procedures, and routing given by the Federal Acquisition Regulation. Following will explain how subcontracting plans are utilized in source selections, the economic impacts subcontracting has on small businesses, and how subcontracting plans are managed. Acts and Policies The Small Business Act, and subsequent reassuring public laws directRead MoreAre United States Business Laws Effective at Promoting Fair Business Practices762 Words   |  4 Pagestrade and perform business transactions daily within a multitude of industries and professions. In order to preserve the trust and integrity of our financial systems, it is imperative that the United States implement, regulate, and enforce business practices to remain relevant and effective within the constantly changing global economic marketplace. The United States has a long history of ensuring fair and balanced business practices through legislation. The Interstate Commerce Act of 1887, began a