Compliance & Legal
Economic Disadvantage
A condition where an individual's ability to compete in the free enterprise system has been impaired due to diminished capital and credit opportunities.
In context
How Economic Disadvantage works in supplier diversity
Economic disadvantage is determined by personal net worth, access to credit, income levels, and asset ownership compared to similarly positioned non-disadvantaged individuals. It is a key eligibility requirement for 8(a), DBE, and EDWOSB programs. Documentation may include tax returns, financial statements, and credit history.
Example
Real-world example
The certification quiz checks your business against every certification we track. The result is a ranked list with the buyers each one opens. Or open the certification reference for the full guides.