This page is provided as a reference
guide to some of the most frequently asked questions. If you have additional questions, which are not addressed, please email
your questions by CLICKING HERE
What is the purpose of Black Wall Street? The purpose behind Black Wall
Street is to provide a platform for small minority owned and women owned businesses to collectively utilize their resources
in an effort to procure larger contracts. Black Wall Street also provides a resource network for the procurement of products
or services your company buys or procures from outside suppliers.
How much does it cost to become a partner?
It depends on the services your firm requires.
Please visit out Affiliate Membership page for more information. What are the
requirements? You must first
complete our Client Assessment and Confidentiality Agreement. An initial evaluation
will be rendered based on the information provided. Once you are amember of our affiliate network we will prepare a comprehensive
Business Development Plan (BDP)for your company There are three requirements that MUST be met: the business must be at least
51% owned and operated on a daily basis (not managed) by an identified socially and economically disadvantaged individual(s);
the business must be currently licensed, insured and bonded (if necessary); sign and return Independent Contractor Agreement
and Confidentiality Agreement upon acceptance of contract.
What
responsibilities do I have as a BWS Subcontractor? You are responsible for keeping
all licenses, insurance and bonding limits current. You are contractually bond to complete the contract as stated. Black Wall
Street is required to give you Form 1099-MISC, Miscellaneous Income, to report what Black Wall Street has paid to you. You
are responsible for paying your own income tax and self-employment tax. Black Wall Street does not withhold any taxes from
your fees.
What
is the concept behind Black Wall Street? There are several stories written recently about the race riots of Tulsa back in the 1920’s. The History of Black Wall Street is but one.
What types of businesses does Black Wall Street create partnerships with?
Black Wall Street partners with all types of
minority owned and women owned businesses that offer a product or service. A part of our success is the fact that we remain
diverse in the global market.7
How can my business join your team and continue to operate the business
as usual?
The unique character of Black Wall Street allows
each business to maintain their normal operations while supplying quality products and services to Black Wall Street as an
Independent Subcontractor. See question 4 for responsibilities as an Independent Subcontractor.8
How do I determine if my business is
51% own or managed?
To determine your companies size determination, please visit the Small Business Administration’s
website at http://www.sba.gov/size/ What
if my business is not 51% owned?
Black Wall Street reserves the right to require all registered businesses to adhere to it’s policies
and procedures.
Who
determines if my business products and services qualify? All businesses that offer a product or service and conform
to our guidelines qualify. Only extreme circumstances that require special services may be disqualified.1
How will my business be guided through the Pre Award Surveys
and Post Award Contract Administration process?
Our team of professionals will assist you in preparing documentation to submit your bid proposals and
guide your through the disbursements of your awarded contracts.1
Is there a fee for the Pre Award Surveys and Post Award Contract Administration
process?
There is an administrative fee for these services. Please ask for assistance.
Can
my business buy and sell products and services to other BWS partners? We strongly encourage partners to buy and
sell to other partners. This is the concept for which we were built.
What advantages does my business gain by partnering with
the BWS team?
Your business will be partnered with the largest minority owned resource firm existing. Your sales will
increase without your liabilities increasing because of our sales staff. Our service provides quality sales leads and
the opportunity to compete for larger contracts. Our staff is dedicated to providing you with quality assistance through the
entire procurement process. You will be an intricate part of the new social-economic change in your communities.
