Property Listings
Home Buyer Center
Real Estate Professional Center
Client Services
About Us
Contact Us
Home
Real Estate Professionals

Frequently Asked Questions About Business Certifications Para Español
Welcome
Property Listings
Listing Broker Opportunities
Property Management Opportunities
Real Estate Professional FAQs
Training Seminars
HUD Programs
Guidebooks, Forms & Instructions
Find a Listing Broker / Agent
Find a Closing Agent for Government Owned Properties
Real Estate Professional Organizations
Business Certifications
Disclaimer

 


Q. How do I know if I am a small business and do I have to be certified to claim that I am a small business?
A. The information provided by First Preston indicates the maximum average revenue size standard for many of the types of businesses that will provide services to our company. Check the list to determine the size limit (average annual revenue over a three year period) for your type of business. For example, the size standard for landscaping services is $5 million, but for appraisers it is $1.5 million. Please note that you are not required to obtain a certification as a small business however, if you are within the revenue limits, you must indicate your status by checking "Yes" on the survey.

Q. What is a small disadvantaged business?
A. The best way to determine if you meet the criteria for a small disadvantaged business is to call the Small Business Administration Office in your state capitol (some larger cities have a local SBA office) or visit your state web-site to find the small business resources in your state that can assist you in understanding its regulations. The basic requirement is that your business must be owned by one or more people who have a net worth of no more than $750,000 and are disadvantaged due to social or economic conditions.

Q. How do I find out if my business is located in a HUBZone?
A. Send your business address and zip code to businesscertifications@firstpreston.com to determine if you are located within a HUBZone, or call (972) 788-1100. To be designated as a HUBZone business, 35 percent of your employees must also reside within the HUBZone area.

Q. How do I get certified as a Woman-Owned Business?
A. If you visit the web-site of the Women’s Business Enterprise National Council at www.wbenc.org you will find a list of state and regional organizations that provide certification services. There is a fee for being certified by this organization. Some states and cities offer a free certification for woman- owned businesses, so you may want to look online at your state web-site or on your city web-site for other options to be certified as a women-owned business.

Q. How do I get certified as a Minority-Owned Business?
A. Visit the National Minority Supplier Development Council at www.nmsdcus.org for information on the organization in your state that provides certification services. There is a fee for getting certified through this organization and its affiliates, so you may want to look online on your state’s or city’s web-site for other options to be certified as a minority-owned business.

Q. What is the advantage of getting certified in any of the categories?
A. First Preston is committed to utilizing business partners that can provide the goods and services we need, top quality customer service and competitive pricing. Companies owned by veterans, minorities, women, disabled persons, etc. that are certified in one or more of these categories provide an added benefit as our clients require us to report on our utilization of a diverse base of subcontractors.

Q. What happens if I qualify as a woman-, minority- or disadvantaged-owned business, but decide not to get certified? Can I still provide subcontracting services to First Preston?
A. You do not have to be a veteran-owned, woman-owned, minority-owned, disadvantaged-owned, etc business in order to provide subcontracting services to First Preston. When reviewing potential subcontractors, we look at service capabilities and competitive pricing. If a subcontractor is also certified in one of the business categories, the certification offers an additional advantage to purchase services from your company. If you qualify for any of the business certifications, you should obtain the certification, because it is an advantage to you in being selected as a subcontractor, if you also meet our service and pricing requirements.

Q. Will I have to be certified for all areas if I qualify in more than one?
A. It is to your advantage to obtain any certification for which you are qualified, as First Preston is committed to a diverse vendor base, and we are required by our clients to report on the diversity of our vendor base. If you can qualify for more than one certification, obtaining these certifications will be advantageous to your selection as a subcontractor for First Preston if you also offer quality service and competitive pricing.

Q. If my certification is pending or rejected, can I still provide services to First Preston?
A. The business certifications do not guarantee that you will be selected to provide services to First Preston. Being certified in one or more of the business ownership categories can be an advantage, however, you must also provide excellent customer service and competitive pricing. If your certification is pending, please notify us when you receive the certification and include the name of the certifying organization, your certification number and the expiration date for the certification. If you are rejected for certification, please let us know if it changes the information we have in your company ownership profile. For example, if you were certified in 2003 as a woman-owned business but your certification in 2004 was denied, we need to have the most current information on the status of your certification for our records.

Q. If I am a large business, should I get certified?
A. Yes. It is important for First Preston to have a diverse group of high quality subcontractors that offer competitive pricing. If you are a large business, status of ownership as minority-owned, woman-owned, veteran-owned, or disadvantaged-owned business, etc. is an advantage for being selected for subcontracting services if you also offer excellent services at competitive prices.


© 2010 First Preston Management, Inc.   All rights reserved.   |   Notices   |   Disclaimers