Tips on the Minority and Women-Owned Business Enterprise Certification Application While certification status is not a free ticket to winning bids – complete competence, efficient delivery, and value pricing remain the top priorities, it can open doors for small businesses to bid on certain government contracts. After attending an informational workshop given by reviewers of MBE/ WBE certification applications from Empire State Development, I put together a few tips to improve a small business’ chances for getting approved. Once an application is sent out, Empire State Development pledges to have an acknowledgement letter sent out within a month. Normal turnaround time for approval or disapproval is over 6 months. The most frequent reasons why applications are denied: 1 – Incompleteness 2 – Failure to respond to request for additional information It is recommended that if any item is missing or not compiled, that the entire application be held, and then delivered together once the remaining documents are available. Guide to Questions: Before You Apply: 51% of the business must be owned by a minority or woman. #8E. 2 quick rules: you must be >1/8 of the race to be considered a minority, and nonminorities that are citizens in minority nations generally do not qualify. Refer to the application documentation to determine whether the applicant qualifies as a minority. #11. No income threshold required to apply. #15a. An important section to fill out, as it shows the reviewer that operations are properly covered. For categories that don’t apply, fill in N/A rather than leaving it blank. #21. Include information for home equity line of credit if it is used for the business.
years in business, include for all available. This includes profit and loss (income) statement, balance sheet, cash flow statement, with notes. Include full financials for the previous fiscal year, and year-to-date interim statements. These can be self-generated. #4. Personal and business returns. State and City tax returns are not necessary, just federal with ALL schedules attached. No passive owners needed unless he owns >50%. #5. Documentation Bank statements, invoices, receipts, bank loans, home equity loans, etc. #6. This part is essential and proves qualification for certification. #9. Vehicles, equipment, building. #14. If you are 8(a) certified, it is still not a sure-thing approval. #15. Use this if there is proprietary data that must be shielded.
#1. Note: resumes needed for principals AND key employees. #3. Include the last 3 years of financials, if there are 3 years in business. If there are not 3
Supporting Documents