In this episode, we delve into the recent changes announced by the Small Business Administration (SBA) regarding the 8(a) Business Development Program. Discover what these changes mean for small business owners, particularly the new requirement for a social disadvantage narrative. Plus, learn how you can prepare an effective narrative with a special resource.

Key Takeaways:

• The SBA now requires most participants in the 8(a) program to submit a social disadvantage narrative.
• This change was influenced by a district court ruling in Tennessee and a Supreme Court ruling regarding the use of race in college admissions.
• The social disadvantage narrative should include detailed accounts of the social disadvantages faced and how they have impacted the business.
• Participants must approach the narrative with honesty and diligence as it is critical in qualifying for the program.
• Businesses owned by Indian tribes, Alaska Native Corporations, or Native Hawaiian Organizations are exempt from this new requirement.
• We have developed a kit that guides companies in self-preparing their social disadvantage narrative, available on our website at this link