The Small Business Associations 8(a) Business Development Program is designed to help businesses that are both owned and controlled by a majority of individuals who are considered to be both economically and socially disadvantaged and whose personal net worth and assets don't exceed certain limits. This SBA program is designed to help economically and socially disadvantaged individuals to have the tools and resources they need to run a successful business.
With an SBA 8(a) application, you have to provide a detailed resume for each person on the application that you are claiming has an economical or social disadvantage. This resume will need to be a little more detailed and technical than other resumes.
Tip #1: Make Sure Information Is Consistent
First, you need to make sure that the information on your resume describing your job title is consistent with the job title that is listed on your current W-2 forms. If your job title on your W-2 forms is not accurate, you need to update the job title on your W-2. This may seem like a little detail, but listing a different job title than is shown on your W-2 could have a negative impact on your application.
You need to make sure the job title is consistent not just on your W-2 and resume, but also on all forms and documents you submit with the application.
Tip #2: Dive Deep Into Management Duties And Responsibilities
Second, as you create your resume, if you have previous management duties or roles that you have held in the past, be sure to really explain what those roles entitled.
Go into detail about what you were responsible for as a manager, such as the number of people you managed, and what managing those people entailed. List the details of the responsibilities, not just duties, that you had as a manager. This will help demonstrate that you have the skills to lead a business.
Tip #3: Get Detailed With Your Education
You want to show that you are a candidate and business worth investing in and detailing your education can really help with this. You should list both formal and informal education you have completed.
That includes things such as an associate's degree or a bachelor's degree, as well as professional licenses and certifications or just areas where you took an online course. Be sure to include any training that directly links to your current business.
Tip #4: Explain All Employment Gaps
Finally, you need to make sure you explain all employment gaps, even if the gap was for a short period of time. You can list the dates you were unemployed, and if you want, you can provide information about what you did during that time. For example, if you were attending school, taking care of a family member, or just searching for a new job, put that information down.
Applying for the SBA 8(a) Business Development Program can really help your business grow, which is why you shouldn't be afraid to invest in assistance with completing the application to ensure you gain entry into the program. If you need SBA 8(a) application help, contact a consultant in your area.