The state is encouraging small and minority-owned businesses to take advantage of updates to a program that went into effect on Oct. 1.
A law the governor signed over the summer, Public Act 21-76, modifies the definition of a “small business enterprise” to conform with federal guidelines. The change aims to eliminate confusion, allowing just one definition, rather than separate definitions at the state and federal levels. The federal guidelines are based on industry-specific size standards, rather than the previous single standard across all industries.
In addition to enhancing opportunities to do business with the state, the update also has the potential to provide greater exposure to Connecticut small businesses with federal procurement opportunities, according to Gov. Ned Lamont.
Going forward, Connecticut small businesses will need to register in the Federal System for Awards Management System (SAM.gov) as a small business utilizing the industry size standards. The State Small Business certification application will include a verification method to ensure the business is registered in the System for Awards Management System.
“Our hope is that every small step we take can help build opportunities for more residents and entrepreneurs,” Lamont said. “Join us and participate in this program. We know that the bigger the bench of experienced businesses we have to collaborate with, the more successful we can be in serving our residents.”
“This step forward will help eliminate barriers, unnecessary paperwork, and confusion surrounding the small and minority-owned business program, and ultimately create more opportunities for Connecticut”™s businesses,” added Connecticut Department of Administrative Services Commissioner and Chief Operating Officer Josh Geballe.
There are currently about 2,457 businesses certified in the program, of which there are 1,367 certified as minority-owned businesses.
More information about the State”™s Small and Minority Business Program can be found on the Department of Administrative Services website.
