Small Business Mentor-Protégé Program is seeing expansion with additional classes of small businesses eligible to participate in the program.
The 8(a) Business Development (8(a) BD Mentor-Protégé Program is designed to enable successful firms provide various forms of business development assistance to 8(a) BD Program Participants. The goal of the 8(a) BD Mentor-Protégé Program is to enhance the capability of 8(a) Program Participants to be competitive, achieve entrepreneurial success, and contribute to the strength and vigor of our economy.
The SBA issued a final rule July 25, 2016, effective August 24, 2016, expanding the classes of small businesses eligible to participate in the program (https://www.federalregister.gov/articles/2016/07/25/2016-16399/small-business-mentor-protg-programs).
The current program limits mentor protégé arrangements only to certified 8(a) small disadvantaged businesses. The revised plan will expand to include:
- Service-disabled veteran owned small businesses (SDVOSB);
- HUBZone small businesses;
- Women-owned small businesses (WOSB); and,
- small businesses generally.
To review the full and complete requirements for the SBA 8(a) Mentor Protégé Program-SBA regulations 13 CFR 124.520)
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