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  • Writer's pictureFelipe Wityk Sanchez

M/WBE Certification and the importance of the fast-track application.

If you have your NYC M/WBE certification, you can quickly apply for State or Federal certification through the Fast-Track system.
Fast-Track M/WBE certification

Suppose you already have the New York City M/WBE Certification and want to expand your business operations across the State or even the country. In that case, there are State and Federal certifications for minority-owned businesses that can help you achieve new contract opportunities. Each state, and some cities, have set aside a certain percentage of their budget for contracts with minority-owned businesses. For this reason, once you have achieved your NYC M/WBE Certification, applying for the New York State and Federal M/WBE Certifications is advisable. For example, Connecticut has a reserve program that requires 25% of public contracts to be allocated to small and minority-owned businesses. New Jersey also aims to allocate 25% of its contracts to minority businesses.

But deciding to apply for these certifications will depend on the characteristics and projections of your business. For example, if you have a construction or maintenance company that wants to obtain new contracts outside of New York City or the State, or if your company markets products within the entire country, you must apply for State and Federal Certification, which will help expand and create new contracts. If you have a business that only sells or provides services within your county or New York City, such as Beauty Salons, Barbers, or a small print shop, you may want to only apply for City Certification.

Although I have already mentioned this in other articles, it is essential to remember: obtaining a M/WBE Certification not only opens doors for you to apply for contracts with the city, State or Federal, but it will also open doors for thousands of private companies.

What is Fas-Track?

The M/WBE Certification process can be complicated for a small business owner focused all day on his business operations. Dealing with the electronic M/WBE application, searching for the requested documents and then uploading them according to the required formats and requirements, and many other administrative issues demotivates many business owners. For this reason there is the Fast-Track that will simplify all these processes.

If your company already has a M/WBE Certification, collecting all the documents to make a Federal or State application will no longer be necessary, which is often more complicated. The Fast-Track system will only ask you for basic information about your business, which you must enter on the New York State or Federal websites. I recommend seeking advice from an expert in this type of service to carry out these procedures. At WealthSpring Financial Services, we are committed to helping you grow your business, which is why we can help you obtain these certifications.

If you have your NYC M/WBE certification, you can quickly apply for State or Federal certification through the Fast-Track system.

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