Questions About Certification-
1. Who Is Eligible For Minority Certification?
Questions About Certification-
1. Who Is Eligible For Minority Certification?
ANSWER: Most certifications are based on minority, gender, disability or economic status- The business must be 51% or greater owned and controlled by one or more of the qualifying individual(s) and the individual must have at least 1/4 or25% minority status which is documented to support the claim. The term "minority" refers to an ethnic minority of either gender in the following categories and ALL applicants must be a U.S. Citizen:
- Asian-Pacific; Origins from Japan, China, Indonesia, Malaysia, Taiwan, Korea, Vietnam, Laos, Cambodia, Philippines, Thailand, Samoa, Guam, the U.S. Trust Territories of the Pacific or Marianas.
- Asian-Indian;Origins from India, Pakistan and Bangladesh
- Black;Origins in any of the Black racial groups of Africa
- Hispanic;Origins from Mexico, Central America, South America and the Caribbean Basin only,Brazilians
- Native American;American Indian, Eskimo, Aleut or Native Hawaiian- Must be registered.
Additional Certifications may be available for the following:
- Disabled veterans;
- Severely-disabled veterans;
- Economically-disadvantaged individuals;
- Companies located in “historically underutilized business"zones;
- Small disadvantaged businesses.
2. How Long Do I Need To Be In Business To Qualify For Certification?
ANSWER: Some organizations will certify newly formed "start-ups," other certifications have a one or two-year requirement. Sometimes you can apply for a waiver of the one or two-year requirements.
3. Can A Franchisee Qualify For Certification?
ANSWER: Certain franchisees may be eligible for some certifications but not all. Whether or not you are qualified is usually a matter of how much independence and control you have of your own company.
4. Do The Owners, Members Or Shareholders Have To Be U.S. Citizens?
ANSWER: The business owner(s) must be a U.S. citizen; however, some certification agencies will accept legal resident alien status.
5. Does My Company Have To Be Legally Incorporated Or Registered In The USA To Qualify For Certification?
ANSWER: Yes, the company needs to be a U.S. incorporated or registered organization. If a foreign company has legally obtained the right to provide goods or services inside the U.S. and files tax returns with Internal Revenue Service, it may qualify for certification.
6. Will I Have To Provide Financial Information To Become Certified?
ANSWER: YES. All owners, and sometimes officers or managers will be required to submit previous years of their personal tax returns in addition to business tax returns. Your information is held in strict confidence. We fully understand the seriousness of identity theft and take extra measures to protect the security of your information
7. Will My Company Be Visited On-Site By Representatives Of The Certifying Organizations?
ANSWER: SOMETIMES, for most national “minority and woman-owned” certifications a “site-visit” will be conducted to assure the information provided on your application is consistent with your operation. This way you can be sure that you are not competing against companies that have misrepresented themselves and have taken opportunities that are intended for truly disadvantaged companies. Site-visits are conducted by seasoned business executives (many times volunteers,) who will maintain your confidentiality and the integrity of your information. Some other certifications are "self-certifying," and do not require site visits. Many certifying organizations only conduct site-visits in the Hawaiian Islands on a quarterly basis, so please don't delay in preparing your application!
8. Will I Grow My Business With A Certification?
ANSWER: If you want to grow and develop your business, certification can be a powerful pathway to success. As with any “program” designed to help you succeed, you must be willing to do the work. The benefits and future growth can be amazing if you take the time to learn how to take advantage of certification. Vantage Point is the expert on how to leverage certification and offers you a variety of services to help you position your company for success in the market.
9. How Long After I Submit My Application For Certification Will It Take To Receive The Certification Document?
ANSWER: In most cases when applying for national certification with a woman or minority certification organization it can take anywhere from three to six months to be approved. Other certifications however, may take only a few weeks. Federal certifications may take six months to a year or more. The most common reason for a delay or rejection is due to errors or omissions on the application. It is critical that that all information is clear and comprehensive, and provided in the manner in which it was requested by the organization.
10. What Would It Cost For Vantage Point To Review A Certification Application I Prepared Myself?
ANSWER: Depending upon the complexity of the application, Vantage Point can review your COMPLETED application for completeness and accuracy. Our fees are $500 for most non-federal certifications and for companies up to 1 million annual revenues. Reviews for businesses filing $ 1.1 Million to $5 million in yearly revenues will normally cost $1,000. However, a denial of certification can be much more costly to your business than a review prior to submitting your application. In many cases, the legal fees alone to challenge a denial could reach thousands of dollars to prepare your case and if that's not enough, you can be prohibited from re-applying for at least one year. Regardless, Vantage Point will never guarantee a company will become certified, despite our best efforts and application completeness. Beware of any company that states they can guarantee your application will pass scrutiny- This is simply not possible. Some circumstances are simply beyond our control and/or contingent upon subjective decisions made by anonymous boards or committees.
11. Is It True That If I Am Denied A Certification, The Actual Reason For The Denial Is Not Shared Me?
ANSWER: If denied certification the exact reason for denial is not usually shared with the applicant.The reason for this is to prevent companies from fraudulently receiving a certification. Unfortunately many companies who apply for certification are actually "front companies," or companies actually owned or operated by a non-qualifying person who wants to take advantage of the vast opportunities available to certified firms. The most frequently seen example is when a non-qualifying male simply lists their wife (who does not truly manage or control the company) as the CEO or president of the company. Qualified individuals must share in the risk as well as the responsibility and rewards of the company.
12. Is It True That How A Company Initially Capitalizes Or Funds Itself Affects Its Overall Ability To Be Certified As A Minority And/Or Women Business?
ANSWER: It can matter how a company was initially funded. The qualifying person owning at least 51% of the company must have contributed to the capital investment in one way or another. For example, a company cannot be a "gift" from a husband to his wife so that they can claim it is now a woman business enterprise. The owner of a qualifying firm must have some "skin in the game" and share in the risk and financial responsibility as well as benefiting personally from the profits
13. What Is An Eligibility Assessment? What Does It Provide? What Can I Expect To Learn?
ANSWER: The eligibility assessment is designed to determine which programs and resources you may be eligible for participation or inclusion. You will receive a listing of the certification programs you may qualify for along with our evaluation of which certifications we believe- would be the best fit for your particular company goals or would offer you the best revenue opportunities. If we find you're not eligible for certification due to minor paperwork problems or issues, we will suggest remedies to bring you into compliance. If, however, we find you are not qualified because of issues or circumstances relating to ownership, financial control, structure, management, or any other area we feel compromises the integrity of the certifying organization's processes and verification, we will only identify the general area of the problem. E.g. "Lack of ownership and control."
14. Is There A Fee For The Eligibility Assessment?
ANSWER: The Initial Assessment is FREE OF CHARGE!
Contact us today with your additional questions!
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When you browse vantageptinc.com, you do so anonymously. Information including (but not limited to) your e-mail address may be collected. The information that we collect and analyze is used to improve our service to you.
Should you voluntarily provide us with personal information, including your e-mail address and phone number, for any purpose unless otherwise noted, we will not share your information with any third party without your express consent. Unfortunately, no data transmission over the Internet is guaranteed to be 100% secure. As a result, while we strive to protect your personal information and that of your employee's. Vantage Point cannot guarantee 100% security of any information you share with us, therefore, as an informed Internet user, you do so at your own risk. Once we receive your transmissions, we will make all commercially reasonable efforts consistent with those practices in the online industry to ensure its security on your systems. Because our product line includes receiving a large volume of confidential information from you for the purpose of verifying to a third-party certification organization, it will be your responsibility for submitting to us records that have the social security numbers of you and others redacted except for the last four digits.
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