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Benefits Of A Certified DBE Firm

By Carol Long

Doing business with the government is considered to be the toughest obligation of all times. Government tenders are hard to get through with due to the heavy amount of capital required to do business. However, most of the states have created a platform that balances the way of doing business with the long established companies, and the certified DBE firm.

To enjoy the full benefits of the certification of this important department, you will need to write an application letter. The delegated department in that state will give you a form with questionnaires that will ask details about your finance, citizenship and other fields that are deemed as important to the state. The states have an outlined margin of capital that they use in classifying an enterprise as an disadvantaged one, and if you fall into that category, you will be certified at once.

In most of the developed countries, the government sets aside some of its projects for the disadvantaged business enterprises. Most of them give out between a third and a quarter percent of its projects to the entrepreneurs. When evaluating the bids, the procurement officers are allowed to assist this unique group in adding points and streamlining their contracts bids.

As a disadvantaged entrepreneur, you are asked to skip some requirements when filing out tender forms. This exempts you from most of the requirements that would have inevitably limited you from getting a government tender. This is a measure that states have taken to balance the business platform between the certified disadvantaged companies and the prominent local companies.

Developed countries have a plan where they reserve some contracts to the youth, women and the persons with disability. During the invitation for bids on different tenders, the government does not publicly publish those post. Through their appointed ministries, they give the chances to the certified disadvantaged business entrepreneurs, regardless of their financial capacities.

A great company commands a good amount of capital and a large asset base, and this is a nightmare to minority enterprise owners. Different governments have regulations that cater for this group their financial institutions. The certified disadvantaged business owners are given loans at a low interest, and some countries also give out grants to such groups. This is a boost that you cannot hesitate to go for it.

A certified minority company has very high chances of working in the major government contracts. This gives you an opportunity to compete with the established firms of the residents of the country. The government rarely looks at your financial capacity that can be an advantage because they have financial backing plans for such enterprises.

Networking is important for every company, and a disadvantaged business owner can hardly get a chance of working for the already established companies. Once you are certified as a disadvantaged entrepreneur, they are forced by the government to do businesses with you. This gives you chances and opportunities of working and gaining more within a short time.

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