Grassroots Economy: HUBZone Certification Creates
Business Potential
An often-overlooked facet of the American economy is the entrepreneurial power of many urban and rural communities, which often teem with potential. A solution to bridge this gap? The HUBZone program.
Historically Underutilized Business Zones, more succinctly known as HUBZones, offer an innovative approach to these overlooked sectors. HUBZones help small businesses gain preferential access to federal procurement opportunities through an SBA certification platform.
The impact of the HUBZone program isn't abstract; it's quantifiable.
- 7,021 certified HUBZone firms, per the SBA website, as of September 30, 2020
- 2,512 HUBZone firms secured federal contracts, per USASpending.gov.
What exactly does it take to qualify for a HUBZone program?
- The business must qualify as small by SBA standards.
- The business must also have a principal (physical) office in a designated HUBZone.
- A minimum of 35 percent of its employees must be residents of the HUBZone.
What designates a HUBZone location?
Forget the maps; HUBZones are defined by Qualified Census Tracts in which at least 50 percent of the households earn less than 60% of the area's median household income.
Why pursue HUBZone certification?
The HUBZone program is more than just a certification; it's a comprehensive growth blueprint that creates economic opportunity.
While all certifications empower small businesses, the HUBZone certification helps break down socioeconomic barriers, create employment, and contribute to community development. Whether through funding, contracts, training, or mentorship, HUBZone certification delivers tangible benefits that help businesses compete, win, and uplift their communities.
Basing operations in disadvantaged areas is a win-win. Doing so lifts the bottom line while simultaneously making a local social impact. It’s an entrepreneurial spirit with a heart for the community.
Get in the Zone
When you embark on the journey to HUBZone certification, you're not just building a business but empowering a community. Contact St. Louis Small Business Empowerment Center (SBEC) to get a solid start on your HUBZone certification. SBEC's strategic mission is to provide free economic development services focused on assisting entrepreneurs to help them sustain and grow their businesses and thus create wealth within their communities. Start your certification journey today to power up your business and community for success tomorrow.
