Minority, Disabled and Women Owned Business Owners in Iowa
If your business is majority-owned by a female, a person with a disability, or a minority, your business may qualify as a "Targeted Small Business" (TSB). If the business meets the requirements of a TSB, you have the opportunity for certain preferential treatment in state-funded projects. For example, certain projects may require a certain amount of work be completed by a TSB. By qualifying as a TSB, you are placed on a central list where contractors and state agencies are able to locate you and seek your services as part of the project. In addition, TSB's are given the opportunity to bid on certain projects 48 hours in advance. TSB's also have the opportunity to seek financial assistance in the form of grants or low-interest rate loans.
The Iowa Department of Inspection and Appeals administers the TSB certification program and have the application materials posted on their website. Also, the Iowa Department of Economic Development has additional general information on their site.
If you have questions about forming your business or the TSB process in general, feel free to contact us.
