Glossary Of Small Business Terms part 29

NMVC companies and to existing Specialized Small Business Investment Companies (SSBICs).

NEWS/NEWS RELEASES SBA issues news releases and media alerts of significant happenings or decisions in the small business community. Choosing More... will take you to our Headline News area.

NMVC New Markets Venture Capital The New Markets Venture Capital (NMVC) program is modeled after the Small Business Administration’s extremely successful Small Business Investment Company (SBIC) program but has a specific mission of economic development in low-income (LI) areas. Through a combination of equity-type financing and intensive operational assistance to smaller businesses located in LI areas, the program seeks to assist local entrepreneurs, create quality employment opportunities for residents and build wealth within these communities. SBA intends to achieve these public policy objectives through financial assistance to newly formed NMVC companies and to existing Specialized Small Business Investment Companies (SSBICs).

NON SET-ASIDE REPORT The purpose of this page is to provide a system to alert SBA's Office of Government Contracting when Government Acquisition Offices do not set aside requirements for Small Business.

NONMANUFACTURER For purposes of Federal government contracts, a firm that supplies a product it did not manufacture is termed a non-manufacturer. To qualify for

Federal government contracting, a non-manufacturer must have 500 or fewer employees, be primarily in the wholesale or retail trade, and supply the product of a US small manufacturer. This requirement is called the "non-manufacturer rule." This rule does not apply to supply contracts of $25,000 or less that are processed under Simplified Acquisition Procedures. The requirement may also be waived through formal procedure by the Associate Administrator for Government Contracting if there is no small manufacturer in the Federal market for a class of products.

NONMANUFACTURER RULE WAIVERS Section 303 (h) of Public Law 100-656 and Section 210 of Public Law 101-574 incorporated into the Small Business Act requires that agency contracts be directed solely to small business manufacturers under set-aside provisions. This requirement is commonly referred to as the Nonmanufacturer Rule. The Small Business Act also contains provisions that allow the Administrator of the SBA to waive this requirement when there are no small business manufacturers or processors available to supply the product to the Federal Government.

NORTH AMERICAN INDUSTRY CLASSIFICATION SYSTEM (NAICS) The North American Industry Classification System (NAICS) is replacing the U.S. Standard Industrial Classification (SIC) system. NAICS will reshape the way we view our changing economy.

Glossary Of SmallBusiness Terms part 30

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