Apparently not the SBA when it came to the Small Disadvantaged Business certification program.
A red-faced SBA is making amends after an audit showed questionable spending of $6 million earmarked for certifying disadvantaged businesses. But the embarrassment underscores persistent doubts that have dogged the certification program since its inception.
The audit by the SBA's Office of the Inspector General found that $2 million spent on furniture, offices, employees and equipment was never used for the Small Disadvantaged Business (SDB) certification program, which aims to help minority businesses com-pete for federal contracts.
Continue reading this article -- and everything on Entrepreneur!
Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5!