![]() ![]() ![]() In November 2019, the SBA proposed to merge the 8 (a) Business Development (BD) Mentor-Protégé Program and the All. The ruling can be found in the Federal Register. The SBA Mentor Protégé programs can help them do that. The explicit purpose of the 8 (a) BD mentor-protégé relationship is to enhance the capabilities of protégés and to improve their ability to successfully compete for both government and commercial contracts. What is the SBA Mentor-Protg Program The 8(a) and All Small Mentor-Protg programs officially merged into the new SBA Mentor-Protg Program (SBA MPP) on November 16, 2020. SBA had a well-established mentor protégé program for SBA 8(a) certified firms but lacked an MPP program for other small business concerns and specifically, one for specialized certified concerns such as WOSB, SDVOB, & HUBZone businesses. Most small businesses could use the added capacity to be gained from a mentor-protégé relationship. Authorization - 2010 Jobs Act and 2013 NDAA. By providing small business owners with actionable business knowledge and the opportunity to pursue joint ventures with their mentor, the mentor-protégé program can add value to a small business which can make a big difference come sale time. ![]() An advantage come sale time: Many small business owners will one day look into selling their organization, and they'll want to position it as lucratively as possible.Joint ventures: The most important advantage for small business protégés is the opportunity to form joint ventures with their mentors, which they can use to win contracts that would otherwise be difficult or impossible to land, including some specially-designated federal contracts.By following their mentor organization's advice and guidance, small business protégés can bolster business processes like accounting, employee management and job bidding. Protégés can therefore look to their mentor organization for a business model to emulate. A mentor and its protg can joint venture as a small business for any small business contract, provided the protg individually qualifies as small. Actionable business knowledge: In order to serve as mentors, businesses have to demonstrate financial health, practical experience and reliability.Three key-benefits of participating in this program include: Over the years SBA has established and revised numerical definitions for all for-profit industries, and this numerical definition is called a 'size standard. By pairing with a BD mentor enterprise, all small business owners can benefit from the expertise of their mentor and better compete for government contracts - both of which can drive up the value of their business when it's time to sell. were eligible for the various SBA programs. This program operates separately from the. Small Business Association recently expanded its Business Development mentor-protégé program. The MPP helps increase participation and maximize opportunities for small businesses to work with the Department. ![]()
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