Veteran Owned Businesses
Veteran-Owned Small Business and Service-Disabled Veteran-Owned Small Business
Veteran-Owned Small Business Concern (VOSB) is one of the categories given special attention by the United States Department of Veterans Affairs (VA) and the United States Small Business Administration (US SBA). The category was established in 1999. In order to qualify as a VOSB, first the business must meet the definition of ‘small’ according to the requirements of the NAICS code that goes with its primary product or service. In addition, the business must be at least 51% owned by one or more veterans. The management and daily operations of the business must be controlled by one or more veterans.
Some VOSB may also qualify to be a Service-Disabled Veteran-Owned Small Business Concern (SDVOSB). This category was established by Federal legislation in 2003. Once again the business must meet the definition of ‘small’ according to the requirements of the NAICS code that goes with its primary product or service. In addition, the business must be at least 51% owned by one or more veterans who have service-connected disability that has been determined by the VA or by the Department of Defense. The management and daily operations of the business must be controlled by one or more veterans who are service-disabled.
The federal government has set a goal of awarding 3% of the value of its contracts and sub-contracts to SDVOSB annually. Some state governments also set goals for this category.
Federal Contracting Officers can set certain acquisitions aside so that only VOSB or SDVOSB compete for that proposal. They also have the authority to create a sole-source contract for a VOSB or SDVOSB in certain circumstances. Since Public Law 109-461 went into effect (2006) the VA gives the highest priority for procurement to SDVOSB, followed by VOSB. The same law allows the VA to award sole source awards up to $5 million to VOSB and SDVOSB.
Procurement Technical Assistance
In order for small business owners to take advantage of the Veterans First Contracting Program, the business must first be determined eligible through the Verification process. Steps to applying for verification can be found online (e.g., http://www.va.gov/osdbu/
verification/index.asp) For additional details and resources related to veterans and contracting click HERE
In-person assistance with the verification process and all aspects of government contracting is available from the Procurement Technical Assistance Program (PTAP) in New Mexico.
Register Online for free, confidential, one-on-one counseling at your local center:
- Albuquerque North204
- Albuquerque North205
- Albuquerque North206
- Las Cruces
- Santa Fe
View Statewide PTAP Events By Date HERE