Victory State Bank Asks, ‘Does Your Small Business Qualify for Government Contracts?’
STATEN ISLAND, N.Y. – If are a business owner who has ever wondered about the qualifications of obtaining a government contract, Victory State Bank suggests you visit the U.S. Small Business Administration (SBA) online to see if your enterprise meets the requires criteria.
The SBA has an online tool that can help you determine if you qualify as a "small business" under SBA size standards.
Qualifying as "small" may allow your business to take advantage of valuable government contracting opportunities reserved for small businesses.
To be eligible as a small business concern, your business must satisfy the SBA’s size standard for your industry, be operated for profit, be independently owned and operated, and be based in the Unites States, making significant contributions to the nation’s economy.
SBA uses the North American Industry Classification System (NAICS) as the basis for its size standards.
NAICS assigns numerical codes to classify business activities to various economic sectors and industries. An NAICS code has six digits. The first two indicate the economic Sector, the third the Subsector, the fourth the Industry Group, the fifth the Industry, and the sixth the U.S. Industry.
To find out if your enterprise qualifies as a small business in the eyes of the SBA, log onto http://www.sba.gov/size-standards-tool?ms=fp.
About Victory State Bank:
VSB Bancorp, Inc. (NASDAQ: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online http://www.victorystatebank.com .