How WOSB Helps Women Business Owners

The Small Business Association of the United States runs a no of certification programs for small business owners. One such initiative is WOSB certification. This is for women who run small businesses and want to bid for federal contracts in public sector. There are more than 13 billion women owned businesses in the US and the figure is likely to increase significantly with each passing year. WOSB certified firms stand out amongst them. There are several advantages of this program to consider being officially certified as a Woman-Owned Small Business (WOSB). 

The program is designed to provide more opportunities to women. Specific contracts are set aside by the contracting officer for WOSB certified firms. The competition is thus fairly reduced and biding for federal contracts becomes easy.  The goal of federal government is to award 5% of contracting amount to WOSB. It gives exposure to large corporations and federal agencies. Exclusive training and educational programs are organized for WOSB. They are guided by mentors and connected to buyers directly. Another advantage is it grants access to several resources and network opportunities. WOSB also qualifies for “sole source contracts” which makes the complex process of bidding for federal contracts much easier. To qualify for WOSB certification, a firm must meet some criteria.The organization not only has to be owned 51% by women but also the women owners must operate and control it actively. The women owners, who must be US citizens, should be able to mange everyday work and also be free to take any long-term decisions for the company. The business must match the definition of small business as described in CFR.

The company’s average revenue of the past three years must be equal to or below $35000. Each woman owner should not have personal net worth of more than $750000. Personal assets exceeding $6 million will disqualify them from this certification program. Upon qualifying these requirements, women owners can apply either through SBA or a third-party certifier. There are four approved third-party agencies named El Paso Hispanic Chamber of Commerce (EPHCC), Women’s Business Enterprise National Council (WBENC), US Women’s Chamber of Commerce (USWCC), and National Women Business Owners Corporation (NWBOC) who provide WOSB certification. The WOSB certification is not a charitable program for women nor does it favor them in any way. This helps to increase visibility and levels the playing ground for women in strictly male dominated industries.

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