At a recent Commission on Race and Access to Opportunity meeting in Frankfort, officials from Team Kentucky’s Finance and Administration Cabinet described several of their missions supporting veteran, minority, and women-owned small businesses in the Commonwealth.
Singer Buchanan, the Executive Director of the cabinet’s Equal Employment Opportunity office, emphasized the importance of these programs in proving the legitimacy of small Kentucky businesses as well as supporting their growth.
“We think it’s very important to continue programs like this because it gives our businesses validity, really. Because, in order to get the certification, you have to show you have expertise. You have to show that you have ownership that you have done yourself. No one gifted this to you,” said Buchanan.
The cabinet is working with the Kentucky Department of Veterans Affairs to make information about the program more accessible to veterans within the Commonwealth.
Buchanan also touted the Minority and Women Business Enterprise Certification program, a similar program targeting minority and women-owned businesses in the state.
Buchanan said the Service-Disabled Veteran Owned Small Business program is looking for Kentucky small business owners with service-related disabilities.
“We basically want to encourage these businesses to work in Kentucky. We also want to give them opportunities for out-of-state contracts. By getting our home state certification, they have the ability to reach out to other states and try to get their product out there, or their service that they provide,” said Buchanan.
The Small Business Association’s threshold for a small business is around $2.5 million annually.