Alphabet soup!! 8(a), SDVOSB, VOSB, MBE, HUBZone, EDWOSB, WOSB. A space to watch is the interpretation of what is considered a qualifying disadvantaged, minority status. Over recent years, test cases have hit the Supreme Court challenging if LGBT should also be included as an 8(a) disadvantaged status. The court back in 2013 said no, but the push continues. The acknowledgement of the issue by the SBA shows they are at least aware of the issue.

Keep an eye to this if you advise LGBT-owned businesses. Regulations will not likely change under this administration, but this is an area to keep an eye on for development.

I also recommend reading Jeremy Quittner’s article on the topic.