216: Changes in Veteran-Owned Small Business Verification: Important Updates and Transition to SBA
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216: Changes in Veteran-Owned Small Business Verification: Important Updates and Transition to SBA
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As of October 24, 2022, the Department of Veterans Affairs ceased accepting applications for certifying or re-verifying veteran-owned small businesses. Starting January 1, 2023, the responsibility for all verification processes will shift to the Small Business Administration (SBA).
For firms already verified, there's no immediate action required, except for Service-Disabled Veteran-Owned Small Businesses (SDVOSBs) and VOSBs with verifications expiring before the transfer date. They need to reapply for verification if their status expires after October 24, 2022.
Self-certified firms should submit their applications through the SBA to maintain their veteran-owned small business or service-disabled veteran-owned small business status. Analysis of SAM solicitations indicates that a majority of pre-solicitations falling under a socioeconomic designation align with the category of veteran-owned small businesses. Explore this episode for further insights.