On December 19 the Procurement Standards Board approved new regulations relative to the definition of a small business enterprise (SBE). The new criteria are available here: Small Business Status Guidelines
There are now two ways for businesses who meet the new criteria to obtain SBE status with Metro:
Option 1:
- Letter of affirmation on company letter head signed by the principal
- Three (3) most recent federal business tax returns (1120, 1065, or schedule C)
- Two (2) most recent IRS 941 quarterly filings
Option 2:
Provide SBE certificate from Go-DBE.
This change takes effect immediately. All firms with Metro SBE status currently will retain their status. New firms that wish to be classified as a Metro SBE must execute either option 1 or option 2 as detailed above.
This change was requested by the purchasing agent. The new standards are the result of a study conducted by Griffin & Strong, PC. They more accurately reflect the status of Metro’s current marketplace and align with the standards for SBE’s set by the state of Tennessee. The latter alignment will decrease red tape for small suppliers, create more opportunity for Metro approved SBE’s to work with the state, and increase Metro’s pool of available small businesses.
More information about becoming a Metro approved SBE is available on the doing business with Metro page.
Questions? Email BAO@nashville.gov.