VetBiz is the online web portal that hosts the Vendor Information Pages (VIP) database – the searchable list of businesses who can participate in the veteran-owned business set-aside program. The VetBiz is maintained by the U.S. Department of Veterans Affairs.
A small business that is at least 51% owned by veterans. The management and daily operations of the business must be controlled by one or more veterans and the business must qualify as “small” for federal business size standard purposes.
A Service-Disabled veteran is a veteran who has a disability rating issued by the Department of Veterans Affairs or disability determination from the Department of Defense. All SDVOSBs are also recognized as VOSBs.
The federal government’s goal is to spend 3%, or approximately $40 billion, on SDVOSBs every year. There are many advantages when contracting with the federal government, especially if you qualify for a set-aside. In 2018, over $14 billion was awarded to VOSBs.
When a solicitation with a VOSB/SDVOSB designation gets posted, you will be the first in line. The only other bidders will be businesses with the same certification, but a lot of your competition is already excluded.
Before posting an opportunity, the government posts notices for market research (sources sought). In this phase, you can add yourself to the interested vendor list and the contracting officer may designate the set-aside for an eventual solicitation.
GovPath Advisors has worked with tens of thousands of businesses to get them properly registered in the federal marketplace. As a business owner, your time, attention, and resources are limited. Mistakes with federal registrations can cause delays and may result in fines. GovPath Advisors saves you time, money, and eliminates non-compliance risk.