AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
To bid on US federal contracts, a business must register in the System for Award Management at SAM.gov, which also assigns its Unique Entity Identifier, a 12-character alphanumeric code. Before registering, pick the NAICS codes that match your work and check your SBA size standard; in SAM you then certify whether you are eligible for small business set-asides and whether you are women-owned, veteran-owned or HUBZone-located.
Federal agencies buy everything from cleaning and IT support to medical staffing and translation, and a share of that work is set aside for small businesses. Many Nigerian-owned firms in the US, especially in healthcare staffing, logistics, engineering and consulting, qualify as small. The entry ticket is the same for all of them: an active SAM.gov registration. This guide follows the SBA's basic requirements page (modified 28 July 2026).
The five steps the SBA lists
- Get a Unique Entity Identifier (UEI). You receive it when you register at SAM.gov. It is 12 characters, letters and numbers. If you are already registered you have one; entities needing only an identifier, such as some sub-awardees, may not need full registration.
- Match your work to NAICS codes. Most firms have a primary code and several others. The US Census Bureau publishes the list.
- Confirm your size standard. The SBA assigns one to each NAICS code. As a general rule, manufacturers with 500 or fewer employees and non-manufacturers with average annual receipts under $7.5 million qualify, but many industries differ. Count your affiliates' employees and receipts too.
- Register in SAM. This is where you certify small business eligibility and any socioeconomic status.
- Comply with the rules. Federal buying runs under the Federal Acquisition Regulation, and small business programme rules are in 13 CFR 125. Defence work adds cybersecurity requirements set per solicitation.
What to have ready before you start
SAM registration asks for your entity's legal details exactly as other government records hold them. Mismatches are the main cause of delay. Gather these first:
- Legal business name and physical address exactly as on your state formation documents.
- EIN, with the name matching IRS records. If you formed recently, our guide to getting an EIN without an SSN covers founders without one.
- A US business bank account for electronic payment.
- Your NAICS codes and a short, plain description of what you do.
- Names and details of the people who will manage the registration.
Foreign owners and Nigerian links
Firms with a Nigerian parent company or Nigerian shareholders should read each certification question carefully. Small business size counts affiliates, which can include a related company in Nigeria. Certifying status you do not hold carries penalties. Where ownership is mixed, have a government contracts adviser check your answers before you submit.
Choosing NAICS codes well
NAICS codes do two jobs: they tell contracting officers what you sell, and they set the size standard you are measured against. A Nigerian-owned home health staffing firm, for example, may fit more than one code, and the size standard can differ between them. Choose codes that match work you can actually deliver and evidence with past contracts or references. Listing every code that might apply makes a profile harder to read and can draw questions on capability. Review your codes each year as the business changes.
A worked size check
Example only. A consulting firm in Atlanta had receipts of $2.1 million, $3.4 million and $4.0 million in its last three years. Their simple average is $3.17 million, well under the $7.5 million general benchmark the SBA mentions for non-manufacturers; SBA rules set the exact averaging period, so check it in the size tool. But the firm is 40% owned by a Lagos company with its own revenue, and affiliates count. Before certifying as small, the owners use the SBA size tool with the affiliate's figures included and check the exact standard for their NAICS code, because the general rule is only a guide.
Things the SBA page does not settle
The SBA page does not state whether registration carries a fee, how often it must be renewed, or how CAGE codes are assigned. Check those on SAM.gov or with the Federal Service Desk directly. Be cautious of companies that contact new registrants offering paid "registration services"; confirm on SAM.gov's own help pages whether anything you are being charged for is required.
After you register
Registration makes you eligible; it does not bring work. Firms that win usually:
- keep the SAM profile accurate and use descriptive terms so contracting officers searching for a capability find them, as the SBA advises;
- track the expiry date shown in SAM and renew before it lapses, because an inactive registration can stop an award;
- start with subcontracts under larger primes to build past performance;
- look at programmes they may qualify for, such as 8(a); the SBA 8(a) page lists SAM registration as a required step before applying for certification, and our 8(a) eligibility guide covers the rest.
State contracts are separate. In Texas, for example, the old HUB programme has changed; see what VetHUB means for Nigerian-owned firms.
Where Pryme fits
Federal payments go to a US bank account. Where your costs include naira payroll or suppliers in Nigeria, a Pryme Business Account holds USD and NGN, and bulk payouts pay a Nigerian team in one run once a person approves. The Compliance agent can keep renewal dates in view.
Questions people ask
How do I register my business on SAM.gov?
Choose your NAICS codes, check your SBA size standard, then register at SAM.gov, which assigns your 12-character UEI and records your small business certifications.
What is a UEI number?
The Unique Entity Identifier, a 12-character alphanumeric code assigned when you register in SAM.gov. It identifies your entity in federal awards.
Is my business small enough for set-asides?
It depends on your NAICS code. As a general rule, manufacturers with 500 or fewer employees and non-manufacturers with average annual receipts under $7.5 million qualify, with many exceptions; use the SBA size standards tool and include affiliates.
Do I need SAM registration for state contracts?
SAM is for federal work. State and local governments run their own vendor registrations, such as the CMBL in Texas.
Sources
- SBA: Basic requirements for federal contracting (page modified 28 Jul 2026) · accessed Oct 2026
- SBA: 8(a) Business Development program (page modified 10 Sep 2026) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.