One Vision Productions Receives
SBA HUBZone & SDB Certification
January 29, 2022 – The Small Business Administration (SBA) has certified One Vision Productions as a HUBZone small business effective January 28, 2022. The Historically Underutilized Business Zone (HUBZone) Program stimulates economic development and creates jobs by awarding federal prime contracts to HUBZone-certified small businesses. This enables One Vision Productions to serve more US Government agencies and it allows OVP to continue its efforts in supporting the community by providing professional job opportunities to those who live in underutilized areas.
The government limits competition for certain contracts to businesses in historically underutilized business zones. It also gives preferential consideration to those businesses in full and open competition.
Joining the HUBZone program makes your business eligible to compete for the program’s set-aside contracts. HUBZone-certified businesses also get a 10% price evaluation preference in full and open contract competitions.
HUBZone-certified businesses can still compete for contract awards under other socio-economic programs they qualify for. To qualify for the certification, the firm must
Be a small business according to SBA size standards
Be at least 51% owned and controlled by U.S. citizens, a Community Development Corporation, an agricultural cooperative, an Alaska Native corporation, a Native Hawaiian organization, or an Indian tribe
Have its principal office located in a HUBZone
Have at least 35% of its employees living in a HUBZone
Small Disadvantaged Business
Each year, the Federal Government awards about 10% of all federal contract dollars, or roughly $50 billion in contracts, to Small Disadvantaged Businesses. SBA’s Office of Government Contracting and Business Development monitors the progress of 24 Executive Branch agencies in contracting with Small Disadvantaged Businesses.
You may register your business as a Small Disadvantaged Business if you meet the following criteria set by the Code of Federal Regulations:
The disadvantaged person or persons must be socially disadvantaged and economically disadvantaged.
The firm must be small, according to SBA’s size standards.