The mentor-protege program should be a boost to a small business’s development that enables the small business to independently perform larger and more complex contracts in the future. A mentor and its protg can joint venture as a small business for any small business contract, provided the protg individually qualifies as small. Just like the longstanding and popular 8(a) mentor-protege program, the new small business mentor-protege program creates a framework under which mentor firms will provide a wide variety of potential benefits to their proteges.

We previously provided a high-level overview of some of the most significant changes implemented by the new rule. Are you a woman-owned small business ready to grow If your business is at least 51 woman-owned and operated, you may be eligible for certification as a woman-owned business. Mentors are encouraged to provide assistance relating to the performance of contracts set aside or reserved for small business so that protege firms may more fully develop their capabilities. On October 16, 2020, the SBA issued an extensive final rule that makes numerous revisions and clarifications to the small business procurement regulations. This assistance may include technical and/or management assistance financial assistance in the form of equity investments and/or loans subcontracts (either from the mentor to the protege or from the protege to the mentor) trade education and/or assistance in performing prime contracts with the Government through joint venture arrangements. Edward DeLisle: The SBA Mentor-Protege program to allow small disadvantaged firms that are part of the government’s 8 (a) Business Development Program, to partner with established companies for the purpose of increasing the small business’s ability to win government contracts. The small business mentor-protege program is designed to enhance the capabilities of protege firms by requiring approved mentors to provide business development assistance to protege firms and to improve the protege firms’ ability to successfully compete for federal contracts. If you’re not familiar with the program, here’s a brief description from the Small Business Adminstration:

Sba mentor protege program benefits