HUBZone Certification
Getting your business HUBZone certified can help insure your businesses success. The HUBZone certification is available for startup businesses, however the firm will need at least one employee in order to satisfy requirement #3 below.
What are the criteria for HUBZone Certification?
1. 51% ownership by a US Citizen.
2. The Principle Office of the firm must be located within a HUBZone
3. At least 35% of the employees must live within a HUBZone
4. The firm must be classified by the SBA as a small business. (Small business size determinations separated into primary NAICS Code)
In submitting the initial application to the SBA no verification for any of the following information will be required. The SBA will follow up with the firm 90 days later and ask for follow up information regarding, how the firm is owned, a map showing the primary business location, utility bills showing the firm name in the HUBZone location, drivers licenses showing primary residence of firm employees, as well as other supporting documentation. Make sure you have made these determinations prior to submitting your firm's application.
There are other issues and considerations for firms moving into a HUBZone location. Your CCR Registration is the electronic platform for you HUBZone application. Therefore all information contained in the CCR Registration must accurately reflect the information within the HUBZone application or there will be a conflict created which could cause a denial. Another factor of consideration is that the D&B information on your business links directly into the CCR Registration so this information must be updated to reflect a firm having moved into a HUBZone with the new Principle Office.
The benefits to your business are the following:
1. 10% pricing preference on government contracts. The HUBZone firm is considered to have similar pricing to a non-HUBZone firm if the HUBZone firm is charging $110 and the non-HUBZone firm is charging $100.
2. Large Companies bidding on Federal Contracts are required to show how they are including HUBZone companies as part of the contracts that are greater than $550,000.
3. The SBA has programs set up to help HUBZone firms with additional Bonding for Construction firms as well as aid in special SBA financial loans and resources.
There are also other intricacies to the HUBZone process such as if a county in a state has greater than 140% of the unemployment rate for the rest of the state then the county is considered to be HUBZone and all firms in that country can apply for HUBZone status. If a business is located as part of an Indian Reservation the firm can have less than 35% of the worker living in a HUBZone until such time as the firm is going to perform on a government contract and at that time the firm needs to become compliant with the 35% residence rule.
Other Resources
http://www.hubzone.us.com/
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