Joint Ventures (8(a) Program) refers to a particular type of business arrangement sanctioned by Small Business Administration (SBA) under its 8(a) Business Development Program. This program is designed to help small, disadvantaged businesses compete in the federal marketplace. Joint ventures under this program can be formed between an 8(a) Participant and another business entity for the purpose of bidding on and performing certain types of contracts.
In a Joint Venture (8(a) Program), 8(a) Participant must be the managing venturer and employee of the joint venture entity. They must also perform at least 40% of the work done by the joint venture. These regulations ensure the benefits of the 8(a) Program truly reach the intended recipients, promoting growth and competitiveness among small, disadvantaged businesses. Joint Ventures (8(a) Program) thus represent a crucial strategy for these businesses to gain experience, build capacity, and achieve success in the federal marketplace.
