Business Acronyms
SBA – Small Business Administration
Small Business Association is a Federal agency which makes loans to small businesses. In most cases, the agency itself does not grant the loans, but rather guarantees the loans from other lenders. The majority of loans provided by the Small Business Agency are to allow the small business to take out loans with longer repayment periods, or with less strict requirements than traditional loans.
DBE – Disadvantaged Business Enterprise
A DBE is a for-profit small business concern that is at least 51 percent owned by one or more individuals who are both socially and economically disadvantaged. In the case of a corporation, 51 percent of the stock is owned by one or more such individuals; and, whose management and daily business operations are controlled by one or more of the socially and economically disadvantaged individuals who own it.
WBE – Women’s Business Enterprise
A WBE is an independent business concern that is at least 51% owned and controlled by one or more women who are U.S. citizens or Legal Resident Aliens, and whose management and daily operation is controlled by one or more of the women owners.
HUBZone – Historically Underutilized Business Zones
HUBZone is a United States Small Business Administration (SBA) program for small companies that operate and employ people in Historically Underutilized Business Zones (HUBZones).
8(a) - Business Development Program
The 8(a) Business Development Program is an important resource for small businesses seeking business-development assistance. Named for Section 8(a) of the Small Business Act, this program was created to help small and disadvantaged businesses compete in the marketplace. It also helps these companies gain access to federal and private procurement markets.
SBD - Small Disadvantaged Business
A Small Disadvantaged Business (SDB) is a small business that is at least 51 percent owned by one or more individuals who are both socially and economically disadvantaged. SDB status makes a company eligible for bidding and contracting benefit programs involved with federal procurement.
Socially Disadvantaged
Socially disadvantaged individuals are those who have been subjected to racial or ethnic prejudice or cultural bias because of their identity as members of a group. Social disadvantage must stem from circumstances beyond their control. In the absence of evidence to the contrary, individuals who are members of the following designated groups are presumed to be socially disadvantaged:
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Black Americans, Hispanic Americans Native Americans (American Indians, Eskimos, Aleuts, and Native Hawaiians)Asian Pacific Americans (persons with origins from Japan, China, the Philippines, Vietnam, Korea, Samoa, Guam, U.S. Trust Territory of the Pacific Islands [Republic of Palau], Commonwealth of the Northern Mariana Islands, Laos, Cambodia [Kampuchea], Taiwan; Burma, Thailand, Malaysia, Indonesia, Singapore, Brunei, Republic of the Marshall Islands, Federated States of Micronesia, Macao, Hong Kong, Fiji, Tonga, Kiribati, Tuvalu, or Nauru; Subcontinent Asian Americans (persons with origins from India, Pakistan, Bangladesh, Sri Lanka, Bhutan, the Maldives Islands or Nepal)
Economically Disadvantaged
Economically disadvantaged individuals are those socially disadvantaged individuals whose ability to compete in the free enterprise system has been impaired due to diminished capital and credit opportunities as compared to others in the same business area that are not socially disadvantaged. In determining the degree of diminished credit and capital opportunities the Administration shall consider, but not be limited to, the assets and net worth of such socially disadvantaged individual.
SDVOSB-Service Disabled Veteran Owned Small Business
“Service-Disabled Veteran-Owned Small Business” as used in this provision means a small business that is at least 51% unconditionally owned by one or more service-disabled veterans (as defined at 38 U.S.C. 101(2), with a disability that is service connected, as defined in 38 U.S.C. 101(16)); or in the case of any publicly owned business, at least 51% of the stock of which is unconditionally owned by one or more service-disabled veterans; and whose management and daily business operations are controlled by one or more service-disabled veterans or, in the case of a veteran with permanent and severe disability, the spouse or permanent caregiver of such veteran.
WOSB – Women Owned Small Business
“Woman-Owned Small Business” as used in this provision means small business that is at least 51% unconditionally owned by one or more women; or in the case of any publicly owned business, at least 51% of the stock of which is unconditionally owned by one or more women; and whose management and daily business operations are controlled by one or more women.
AbilityOne (formerly JWOD) Non-Profit Agency
The AbilityOne Program is the largest single provider of jobs for people who are blind or have other significant disabilities in the United States. The AbilityOne Program uses the purchasing power of the federal government to buy products and services from participating, community-based nonprofit agencies nationwide dedicated to training and employing individuals with disabilities.
JWOD – Javits-Wagner-O’Day (US federal job/training program)
The JWOD Program creates jobs and training opportunities for people who are blind or who have other severe disabilities. Its primary means of doing so is by requiring Government agencies to purchase selected products and services from nonprofit agencies employing such individuals.
SCORE – Service Corps of Retired Executives
SCORE is 501(c)(3) nonprofit organization that provides free business mentoring services to entrepreneurs in the United States. The organization also presents business workshops and seminars for a fee. Business mentoring services are provided by both active and retired business executives and entrepreneurs who donate their time and expertise as mentors to assist new and established small businesses. SCORE is a resource partner with the U.S. Small Business Administration.
SBDC - Small Business Development Center
Small Business Development Centers (SBDCs) are partnerships primarily between the government and colleges/universities administered by the Small Business Administration and aims at giving educational services for small business owners and aspiring entrepreneurs. SBDC services include, but are not limited to, assisting small businesses with financial, marketing, production, organization, engineering and technical problems and feasibility studies.
PTAC - Procurement Technical Assistance Center
Procurement Technical Assistance Center (PTAC) can help you identify potential government customers and learn how to approach them. PTAC is a specialty center of the SBDC Network and provides free consulting and low cost technical assistance to help businesses.
MDA – Mississippi Development Authority
The Mississippi Development Authority (MDA) is the state of Mississippi’s lead economic and community development agency, with approximately 300 employees engaged in providing services to businesses, communities and workers throughout Mississippi. The agency works to recruit new business to the state and retain and expand existing Mississippi industry and business. MDA also provides technical assistance to the state’s entrepreneurs and small businessmen and women and oversees programs that support Mississippi’s minority and women-owned businesses. In addition, the agency provides Mississippi’s corporate citizens with export assistance, manages the state’s energy programs and oversees programs that help its communities become more competitive.
MPTAP – Mississippi Procurement Technical Assistance Program
The Mississippi Procurement Technical Assistance Program is an integral element of the Mississippi Development Authority, the chief economic development agency for the State of Mississippi. The program office operates as a bureau (Procurement Technical Assistance Bureau) in the MDA Minority & Small Business Development Division. The MPTAP delivers its services through a statewide network of procurement technical assistance centers with regional centers strategically located in Biloxi, Columbus, Greenville, Meridian and Jackson. Private non-profit corporations (South Mississippi Contract Procurement Center, Inc.; Northeast Mississippi Contract Procurement Center, Inc.; and Delta Contract Procurement Center, Inc.) operate the centers in Biloxi, Greenville and Columbus respectively