SBA launches Destination: HUB

The Small Business Administration hopes to give its 17-year-old “HUBZone” small business program a boost with its new “Destination: Hub” initiative.

SBA Administrator Maria Contreras-Sweet announced that the three-part Destination: HUB initiative will consist of research for identifying best practices; using private companies to help increase HUBZone participation; and sponsoring educational materials to get more community support for HUBZones.

HUBZones are geographic areas that are historically underutilized for business. The federal government offers federal contract set-asides and other incentives to HUBZone businesses.

“In our 2013 scorecard, we reported that HUBZone businesses only received 1.7% of federal contracts – well short of our 3% goal. This new initiative is an example of how the SBA (is) actively working to achieve that goal,” Contreras-Sweet said in announcing the new program.

More information: http://www.sys-con.com/node/3211955

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