In the fall of 2004, President George W. Bush issued Executive Order 13360. The Order was created “to strengthen opportunities in federal contracting for Service-Disabled Veteran-Owned Small Business Concerns.” It established the goal of no less than 3% of procurement expenditures must be awarded to qualified service-disabled veteran-owned businesses.
New Age Development Group is a certified service-disabled veteran-owned small business. We offer design and construction services in both the public and private sectors. Here, we will discuss what a service-disabled veteran-owned small business is, and why it should be important to your business when choosing a construction company.
Who Qualifies as a Service-Disabled Veteran?
A veteran is defined as someone who has served in the active military, air, or naval service and was discharged from duty under conditions other than dishonorable.
A service-disabled veteran is someone who was disabled in the line of duty. The disability must have occurred during active service and was not caused by the veteran’s misconduct, abuse of illegal substances, absence without permission, or imprisoned by military or civilian authorities for criminal acts.
How Does a Business Become Classified as Service-Disabled Veteran-Owned?
If a business aspires to be classified as a Service-Disabled Veteran-Owned entity, it must meet the following criteria:
Operate as a small business
At minimum, 51% of the company must be owned by a service-disabled veteran
If the company is publicly traded, 51% of shareholders must be service-disabled veterans, and one or more service-disabled veterans must administer the day-to-day operations of the business
The veteran designated owner must have a service-connected disability.
The Benefits of Being a Service-Disabled Veteran-Owned Small Business
The Federal government restricts competition for particular contracts to small businesses that qualify under the service-disabled veteran-owned eligibility requirements.
If your company qualifies for the designation above, the government will reserve specific contracts for you. The company will still be able to participate in other bidding activities related to the contracts you qualify for.
The Benefits of Working with a Service-Disabled Veteran-Owned Entity
There are many benefits to working with a service-disabled veteran-owned company. Primarily, you will be partnering with those that have made significant sacrifices for our nation. You will also be fostering a relationship with a company that has a proven track record of dedication and excellence.
The New Age Development Group has been designated as a service-disabled veteran-owned small business for the past 11 years. We take pride in our contributions to the nation and our public and private sector building projects. For more information, please contact us today.