LDF Construction was recently named as an SBA 8(a) Business Development Program certified contractor. What is 8(a) you ask? The 8(a) Business Development Program is a business assistance program for small disadvantaged businesses facilitated by the U.S. Small Business Administration.
The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. The 8(a) Program offers a broad scope of assistance to firms that are owned and controlled at least 51% by socially and economically disadvantaged individuals.
Since LDF Construction is a wholly owned subsidiary of the Lac du Flambeu Tribe of Chippewa Indians, and located in Northern Wisconsin, we fulfil those requirements. Having this designation allows us to expand our current services and gain a foothold in government contracting. The benefits of this are the ability to receive government contracts, and build our competitive and institutional know-how. 8(a) firms are also able to form joint ventures to bid on contracts. This enhances the ability of 8(a) firms to perform larger prime contracts and learn the ropes from other more experienced businesses.
The overall program goal is for LDF Construction to graduate from the program and go on to thrive in a competitive business environment. There are some requirements in place to help achieve this goal such as maintain a balance between commercial and government business. We also track our goals and requirements through annual reviews, strategic business planning, and systematic evaluations.
In addition, 8(a) participants may take advantage of specialized business training counseling, marketing assistance, and high-level executive development provided by the SBA and our resource partners. This ensures associates of all levels are performing at the highest level possible. LDF Construction is excited for this new direction and look forward to sharing our successes!