Airport Concession Disadvantaged Business Enterprise Certification
An Airport Concession Disadvantaged Business Enterprise certification, commonly referred to as a ACDBE certification defines your business as being owned, operated and controlled by a disadvantaged group.
ACDBE certification may be the thing to catapult your business to success if you are looking to obtain airport concessions contracts. If you are a small business owner, you could be missing out on a lesser-known revenue stream – “set-aside” contracts. Government agencies, along with corporations that do business with the government, are mandated by law or corporate policies to spend approximately 20% of their budget with small disadvantaged companies.
All primary airports must have an ACDBE program. This provides a great opportunity for small businesses.
ACDBE requirements are uniform in every single state because they are under the direct jurisdiction of the United States Department of Transportation (US DOT). The DOT is responsible for setting ACDBE utilization goals and for the implementation of the entire program.
As a business owner, it is important to understand that a ACDBE business certification can allow you to be more competitive when it comes to government contracts, increasing your business’ revenue.
Even during a recession, the government must continue spending to fund its operations and stimulate growth. If you are seeking small business certification, it is important to decide who your target customer is to see if a DBE certification is best for you. You have to be certified as a small business in order for your ACDBE certification application to be accepted, so make sure that you go through that certification process first.
An ACDBE is defined as a for-profit small business that is owned by a majority of at least one disadvantaged individual. In this definition, you are classified as a disadvantaged individual if you are African American, Hispanic, Native American, Asian-Pacific and Asian American, as well as if you are a women. You may qualify even if you do not fall into these categories since eligibility is determined on a case to case basis during the ACDBE certification application process.
What Do I Need For My ACDBE Certification Application?
Currently, you have to create a Statement of Disadvantage as well as a Personal Finance Statement to apply for ACDBE business certification. The documents are required to prove that you belong to a disadvantaged group and that your personal net worth does not exceed $1.32 million. However, there are many other documents that you will need during the ACDBE certification application process. Having an ACDBE certification checklist is vital to making sure that you have a complete application. Here are a few things that you’ll need:
Basic Contact Information
You’ll need to make sure that you have all of the basic contact information for your business to ensure that you can be contacted by the DOT.
Any other certifications that your business may have is important in determining whether or not your ACDBE certification application will be accepted.
A short profile of what your business does, what services it provides, or what materials it produces is important.
Majority Owner Information
Since the ACDBE certification is based on having a majority of the company owned by one of more disadvantaged individuals, this is possibly the most important part of the ACDBE certification checklist. If you don’t have this information figured out, it will not be possible to get a ACDBE certification.
You’ll have to discuss what your current inventory levels are in terms of equipment, vehicles, office space, and storage space in your ACDBE certification application. Make sure that you have this information prepped to share.
There are other items on the ACDBE certification checklist that we will be happy to share with you during the application process, and we are available to answer any questions you may have on the specifics of your ACDBE certification application.
How BizCentral Can Help With Your ACDBE Application
Filling out the ACDBE certification application can be complicated and time-consuming. BizCentral is here to help you with both filling out and filing the ACDBE certification application. Our consultants can work with you to discover if you qualify, then they can assist with gathering the documentation discussed in the ACDBE certification checklist. They will also recommend the right agencies to make sure that you are submitting your ACDBE certification application to a properly vetted agency.
Turn to BizCentral USA to obtain your ACDBE Certification. Get in touch with us for a consultation about qualifications and requirements.