---
kind: "section"
citation: "13 C.F.R. § 124.403"
title: "13"
number: "124.403"
heading: "How is a business plan updated and modified?"
url: "https://uscodex.org/cfr/13/124.403"
---

# §124.403. How is a business plan updated and modified?

- (a) **Annual review.** Each Participant must annually review its business plan with its assigned Business Opportunity Specialist (BOS), and modify the plan as appropriate. If there are no changes in a Participant's business plan, the Participant need not resubmit its business plan. A Participant must submit a new or modified business plan only if its business plan has changed from the previous year. The Participant must submit a modified plan and updated information to its BOS within thirty (30) days after the close of each program year. It also must submit a capability statement describing its current contract performance capabilities as part of its updated business plan.
- (b) **Contract forecast.** As part of the annual review of its business plan, each Participant must annually forecast in writing its needs for contract awards for the next program year. The forecast must include:
  - (1) The aggregate dollar value of 8(a) contracts to be sought, broken down by sole source and competitive opportunities where possible;
  - (2) The aggregate dollar value of non-8(a) contracts to be sought;
  - (3) The types of contract opportunities to be sought, identified by product or service; and
  - (4) Such other information as SBA may request to aid in providing effective business development assistance to the Participant.
- (c) **Transition management strategy.** Beginning in the first year of the transitional stage of program participation, each Participant must annually submit a transition management strategy to be incorporated into its business plan. The transition management strategy must describe:
  - (1) How the Participant intends to meet the applicable non-8(a) business activity target imposed by [§ 124.509](/cfr/13/124.509.md) during the transitional stage of participation; and
  - (2) The specific steps the Participant intends to take to continue its business growth and promote profitable business operations after the expiration of its program term.

## Notes

### Amendments

[63 FR 35739, 35772, June 30, 1998, as amended at 76 FR 8259, Feb. 11, 2011; 88 FR 26205, Apr. 27, 2023]

### Authority

Authority: 15 U.S.C. 634(b)(6), 636(j), 637(a), 637(d), 644, 42 U.S.C. 9815; and Pub. L. 99-661, 100 Stat. 3816; Sec. 1207, Pub. L. 100-656, 102 Stat. 3853; Pub. L. 101-37, 103 Stat. 70; Pub. L. 101-574, 104 Stat. 2814; Sec. 8021, Pub. L. 108-87, 117 Stat. 1054; and Sec. 330, Pub. L. 116-260.

### Source

Source: 63 FR 35739, June 30, 1998, unless otherwise noted.

### Amendments

[63 FR 35739, 35772, June 30, 1998, as amended at 76 FR 8259, Feb. 11, 2011; 88 FR 26205, Apr. 27, 2023]