NaVOBA State Tracker:
Arkansas
Rank: 4 Stars
Arkansas Act 893 grafts Service Disabled Veterans into the Minority Business Enterprise program, which is a key part of making sure that Arkansas is up to speed with other state practices.
Arkansas Act 882 creates the set aside goal of 5% of all state contract dollars be for Service Disabled Veteran Owned Small Businesses. This also includes the definitions of a Service Disable Veteran and what does it mean to own a business."
Currently, the Division of Minority Business Enterprise, renamed the Division of Minority and Women-Owned Business Enterprise (Division) by Act 1080 of 2017, and the Office of State Procurement of the Department of Finance and Administration work closely to implement program requirements.
Subsequent amendments to the Minority Business Economic Development Act in 2003, 2007, 2009, 2011, and 2017 have changed the name of the act to the Minority and Women-Owned Business Economic Development Act; expanded and added definitions; enhanced reporting requirements; renamed and expanded the duties of the Division of Minority Business Enterprise and the Minority Business Advisory Council; enhanced the responsibilities of the Office of State Procurement of the Department of Finance and Administration; modified procurement target percentages; and expanded the program to include additional minority groups, service-disabled veterans, and women-owned businesses.
As of 2017, the current procurement spending targets are:
Ten percent (10%) for minority business enterprises with two percent (2%) allocated for service-disabled veteran-owned minority business enterprises and eight percent (8%) for all other minority business enterprises; and five percent (5%) for women-owned business enterprises.
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Our Mission
NaVOBA’s mission is to create corporate contracting opportunities for America’s Veteran’s and Service-Disabled Veteran’s Business Enterprises® (VBEs/SDVBEs) through certification, advocacy, outreach, recognition and education.
Thank you for your interest in the National Veteran Owned Business Association’s Certified Veteran’s Business Enterprise® (VBE) and Certified Service-Disabled Veteran’s Business Enterprise® (SDVBE) programs. This initiative creates a nationally recognized gold standard in certification for veteran-owned businesses of all sizes and enables corporate America to proactively source and confidently utilize businesses that are at least 51% owned, operated and controlled by U.S. military veterans.
