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What Is A Small Business
What is the definition of:
A Small
Business:
- is independently
owned and operated,
- is not dominant in
the field of operation in which it is bidding on government contracts,
and
- meets any applicable
criteria concerning number of employees or annual receipts established
by the Small Business Administration (SBA). Concerns are "affiliates"
when one either controls or has the power to control the other
or when a third party or parties controls or has the power to
control both.
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A Small
Disadvantaged Business:
- is at least 51%
owned by one or more individuals who are both socially and economically
disadvantaged, or a publicly owned buiness having at least 51percent
of its stock owned by one or more socially and economically disadvantaged
individuals, and
- has its management
and daily business controlled by one or more such individuals.
This term also means a small business concern that is at least
51 percent unconditionally owned by an economically disadvantaged
Indian Tribe or Native Hawaiian Organization, or a publicly owned
business having at least 51 percent of its stock unconditionally
owned by one of these entities which has its management and daily
business controlled by members of an economically disadvantaged
Indian Tribe or Native Hawaiian Organization, and which meets
the requirements of 13 CF 124
Small Disandvantaged Businesses are required to be certified
by the Small Business Administration (SBA).
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A Woman-Owned
Business:
- is a small business that
is at least 51 percent owned by a woman or women who are U.S.
citizens and who also control and operate the business.
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