Many federal contractors are familiar with or have heard of the Service-Disabled Veteran Owned Small Business (SDVOSB) program. It is currently run by the SBA, but previously was administered by the VA. Due to the nature of the program being around for a while, and shifting from one agency to another in the past few years, undoubtedly there are some requirements that have changed, but contractors may not realize it. One of the requirements that has experienced change is one of the most basic: how you establish that you are a Service-Disabled Veteran. In this installment of our GovCon FAQs series, we tackle, how do you show or prove your Service-Disabled Veteran Status, now that the SDVOSB program is under the SBA?
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GovCon FAQs: How Should a Joint Venture Allocate Profits?
It is a fairly standard business practice to divide profits according to ownership ratio. And a joint venture made up of only small business venturers only pursuing small business set-asides can follow this business practice—or any business practice—to divide up its profits (limited only by any applicable state, local, or Tribal law). But SBA does have specific and strict requirements for allocating the profits of any joint venture (1) between a small business protégé and its SBA-approved large business mentor, and (2) that qualifies for and pursues socioeconomic set-asides (i.e., 8(a) Program, WOSB/EDWOSB, HUBZone, VOSB/SDVOSB) and includes non-similarly situated entities.
Continue readingGovCon FAQs: Do I need an SBA MPA for a JV?
We at SmallGovCon are excited to announce this first in a new line of blogs we call GovCon FAQs. Our firm handles a wide variety of federal procurement and contract matters, from bid protests, size protests, joint ventures, socio-economic certifications, to everything in between. Often, when talking to blog readers and contractors we hear the same sort of questions pop up. Of course, we can only provide direct legal advice to our clients. But many of these questions hit on issues that face contractors as a whole, or are items that are commonly misunderstood. So, we decided contractors needed an FAQ page for those common general questions. This blog will kick off that FAQ page for contractors. The first big frequently asked question:
Do I need an SBA Mentor-Protege Agreement to form a joint venture and perform on federal contracts as a joint venture?
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