1010c Questions and Answers

Form 1010c Business Plan Questions and Answers

 
What if a Firm Does Not Submit its Business Plan to the SBA On a Timely Basis?

A firm may not be awarded any 8(a) contracts until its 1010c business plan is submitted and approved. If your business plan is not submitted within the 30-day time period, or any extension granted, your  BOS or BDS may initiate termination proceedings.

What Information Must the Firm’s Business Plan Include?

To enable SBA to determine the firm’s business development needs, your business plan must be comprehensive, setting forth business targets and objectives. Whether you use the form 1010c or your own format, at a minimum, your business plan must contain:

a. A detailed description of any products currently being produced and any services currently being performed by your company, as well as any future plans to enter into one or more new markets;

 
b. Your company's primary NAICS code and all related NAICS codes;

 
c. Business targets and objectives including, as necessary, revenues, technical capabilities, etc.;

 
d. An analysis of market potential, competitive environment, and the concern's prospects for profitable operations during and after your  participation in the 8(a) program;

 
e. An analysis of  your company's strengths and weaknesses, with particular attention to ways to correct any financial, managerial, technical, or work force conditions that could impede your company from receiving and performing non-8(a) contracts;

 
f. Specific targets, objectives, and goals for the business development of your company during the next two years;

 
g. Estimates of both 8(a) and non-8(a) contract awards that will be needed to meet its targets, objectives and goals; and

 
h. Such other information as SBA may require.

Your company will be eligible to perform any 8(a) contract opportunity regardless of whether the NAICS code assigned to the requirement is contained in your approved 1010c business plan, so long as you demonstrat the capability and responsibility to perform the contract in question to the procuring agency’s contracting officer and so long as you qualify as a small business under the size standard attached to that NAICS code.

How Does the SBA District Office Process the Business Plan?

a. Within ten calendar days after receipt, your assigned BOS or BDS will screen your business plan for completeness. If the 1010c business plan is not sufficiently complete to allow a thorough evaluation, it must be returned to you, citing the reasons for its return.

 
b. Within 30 working days after receipt of a complete business plan, your BOS or BDS will evaluate it and advise you in writing of the following:

 (1) Results of the evaluation;

 (2) Recommendations regarding the improvement and/or implementation of the 1010c business plan; and

 (3) Recommendations regarding program support levels for the current and succeeding program years. Support levels are not to be used as a bar to accepting contract support.

 c. Your BOS or BDS will evaluate your business plan, identify firm strengths and weaknesses, and analyze your plan’s management, marketing and financial condition. Your BOS or BDS can help to ensure that an acceptable business plan is submitted by working with you to explain what is required in the plan.

 

Each company has a unique business plan; therefore, evaluation of a 1010c business plan involves a degree of subjectivity. At one level, the SBA must evaluate the adequacy and clarity of the information provided. At another level, the SBA must evaluate how realistically the business plan reflects where your firm wants to go, and how it expects to get there in terms of marketing, management, and finance. In making this evaluation, the SBA will consider the internal resources of your company, and assistance that is available from SBA and other resources. Based on the evaluation of your business plan, your BOS or BDS should be able to provide guidance to you, and, if necessary, arrange for the provision of management and technical assistance.

Inherent in formulating a 1010c business plan is the identification of your company's strengths and weaknesses. The 1010c evaluation questions and summary provide a mechanism for assessing strengths and weaknesses. The questions are stated so that the desired answer is “yes.” However, “no” answers do not mean that your business plan should not be approved. “No” answers may mean that these are items of concern or indicate weaknesses in one or more of the areas of finance, management and marketing that should be addressed in the summary section. A “no” answer in some cases could indicate that information in a particular section of the 1010c business plan is inadequate or unrealistic. In such cases, your BOS or BDS  should provide feedback to you so that you can revisit those parts of your plan.

Need more help with the 1010c form? Call or email for a free consultation with one of our 8(a) Specialists

Phone: 703-350-8381

Email: info@get8acertified.com

Website: get8acertified.com