The DBE program can provide competitive advantages to women and minority owned businesses that compete on federally funded transportation projects. Last month, the program underwent some important changes.
- The Personal Networth limit was increased from $1.32million to $2.047 million.
- The Personal Networth calculation excludes retirement assets and will be routinely adjusted. If you’re a certified firm near the limit, watch for changes at https://www.transportation.gov/DBEPNW
- The overall business size cap increased from $30.40 million to $30.72 million in average annual gross receipts over the firm’s previous 3 years. This size standard will be updated regularly and made available at https://www.transportation.gov/DBEsizestandards. Firms must also not exceed the size standard for their industry based on the SBA Size Standard linked here which averages the firms previous 5 fiscal years using a cash basis.
- Making it easier and quicker for DBEs to get certified in a state other than their “home” state.
View the full list of changes and the timeline for when these changes will also impact the State’s Women Business Enterprise and Minority Business Enterprise program at this Office of Minority & Women’s Business Enterprise article linked here. If you’d like to discuss how to leverage the DBE program for your business, you’re invited to work with your local APEX Accelerator for no-cost advising.
