A closer look at procurement programs. (Non Profits).Once you have established your business, the next step is to maintain it and keep it growing. Two ways to take your business to the next level are: obtaining long-term contracts and business consulting. The Valley Economic Development Center, Inc, (VEDC VEDC Valley Economic Development Center (Los Angeles, CA, USA) ) in partnership with San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. Financial Business Corporation provides certification, procurement opportunities and business consulting. Long Term Contracts Many governmental and large private agencies have opportunities that a business owner can access. These opportunities are in the form of contracts that you may bid on and negotiated procurements. Most of the contracts require that a business have one or more of the following certifications: * 8(a) Business Development Certification * Small Disadvantaged Business Certification * Small & Local Business Program * Disadvantaged Business Enterprise * Woman-owned/Minority Business Enterprise, etc Some large private agencies/contractors also certify a business before they do business with them. Copies of the following documents are mostly commonly required for certification: * Business Tax Registration Certificate * Business Tax Returns for the previous 3 years * Personal financial statements * Balance sheet and Profit & Loss Statements for the preceding 3 fiscal years * Current fiscal balance sheet and profit & loss statements no older than 90 days * A statement of bonding limit from the firm's surety, if applicable * Articles of Incorporation The document that must be filed with an appropriate government agency, commonly the office of the Secretary of State, if the owners of a business want it to be given legal recognition as a corporation. , operating agreement An operating agreement is an agreement among limited liability company ("LLC") members governing the LLC's business, and Member's financial and management rights and duties. No state requires an LLC to have an Operating agreement. * Statement of disadvantage, etc Each certification application provides a list of required documents. This process can be time consuming and involved. Our advice is to seek out a consultant through one of the following resources: * Economic Development Agencies * Small Business Development Centers * Business Assistance Centers Once a small business becomes certified here are some of the advantages: * Access to upcoming bids and private solicitations * Participate as a prime or subcontractor One who takes a portion of a contract from the principal contractor or from another subcontractor. When an individual or a company is involved in a large-scale project, a contractor is often hired to see that the work is done. on negotiated procurements * Participate on Joint Ventures with other small businesses * Free outreach to contracting agencies * Networking opportunities VEDC also works with the Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. Minority Business Opportunities Committee, Mayor's Office of Economic Development to provide access to various contract opportunities with the Department of Public Works public works pl.n. Construction projects, such as highways or dams, financed by public funds and constructed by a government for the benefit or use of the general public. Noun 1. , Port of Los Angeles The Port of Los Angeles is located on San Pedro Bay in the San Pedro neighborhood of Los Angeles, approximately 20 miles (30 km) south of downtown. Also called Los Angeles Harbor and WORLDPORT LA , Los Angeles Metropolitan Water District (MWD MWD Metropolitan Water District of Southern California MWD Measurement While Drilling (oil drilling) MWD Morgan Stanley Dean Witter (stock symbol) MWD Molecular Weight Distribution MWD Military Working Dog ), etc. Any business interested in these opportunities needs to be registered with VEDC. VEDC consultants will assist the business owner in obtaining the necessary certifications, and access to contract opportunities. Gilbert Buchanan or Nilima Kapoor are with the Valley Economic Development Center (VEDC). For more information, please call the office directly at 818-907-9977. The VEDC office is located at 5121 Van Nuys Blvd., 3rd floor, Van Nuys, CA 91403. |
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