On July 15, 2020, the initial eligibility thresholds for net worth, adjusted gross income, and fair market value of all assets went up–and quite a bit too! SBA’s new rules increased: the net worth threshold from $250,000 to $750,000 the threshold for “adjusted gross income averaged over the three preceding years” from $250,000 to $350,000 and the fair market value of all assets threshold from $4 million to $6 million! You can read more about SBA’s economic disadvantage threshold increase here. SBA’s economic disadvantage thresholds went up in July 2020 (and retirement accounts are out for everyone). It is merely a simplified discussion of some of the big picture changes that have already received a lot of attention in the government contracting community.ġ. Without further ado, here are five things you should know about SBA’s recent 8(a) Program updates.Īs an initial matter, please keep in mind that this blog does not provide an exhaustive list of the rule changes in SBA’s November 2020 final rule that may affect 8(a) Program admission or participation. Suffice it to say, there is a lot to process! So, we thought a quick summary blog on some of the most significant changes to the 8(a) Program of late might help you in that endeavor. There were also some pretty important changes to the 8(a) Program just prior to and subsequent to SBA’s November 2020 final rule. But given the sheer magnitude of information in that final rule, it is pretty easy to lose track of which updates might affect you, as a potential 8(a) applicant or current 8(a) participant. ![]() ![]() Many of our blog posts focused on SBA’s monumental November 2020 “rule overhaul,” which implemented several 8(a) rule changes. And we have been doing our best here at SmallGovCon to keep you posted. SBA has been hard at work this past year updating its 8(a) Business Development Program rules and policies.
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