According to the Florida Department of Transportation, your firm very likely qualifies as a disadvantaged business enterprise. You may be thinking that you are not a member of a minority, or you are not a female, but that doesn’t matter. The FDOT runs a race and gender neutral DBE Certification Program. “Neutral” means that race and gender does not matter. What does matter is that you are running a “for profit” business. You cannot have a personal net worth that exceeds $1,320,000 (excluding your business and home). Your business will likely qualify if it doesn’t have sales in excess of $14,000,000 (maybe $33,000,000, it depends on the type of work you do). You must be an independent business. The qualifying owner must own a minimum of 51% of the company and have an investment in the company. The qualifying owner must have day to day control of operations. So why get certified? The FDOT sets aside work for certified contractors. I think most contractors in Florida would qualify. Want to learn more? Give us a call.
It’s Possible That 70% of All Florida Contractors are Disadvantaged, and They Just Didn’t Know it.
By Cheryl Foley|
2013-07-26T15:41:25+00:00
July 26th, 2013|Surety Blog|Comments Off on It’s Possible That 70% of All Florida Contractors are Disadvantaged, and They Just Didn’t Know it.