Information Regarding WOSB Certification

WOSB certification is one of the initiatives taken by the United States government run by the SBA that supports women business owners. Through this program, women who run small business organizations are given a lot of opportunities to develop financial stability. Prior to applying for this certification program, a company must be aware of all the WOSB information. 

 

The following determines the eligibility for certification.

• The company must be at least 51% owned by women directly. 
• The women owners must be citizens of US. 
• The qualifying woman should have control over the management 
• The woman should manage day to day operations and should be responsible for making long-term decisions for the company. 
• The business must be a “small business” as per the definition given in 13 CFR 121. 
• A woman must be highest ranked officer in the company.

The SBA verifies all the WOSB information by collecting few documents which include bank statements, operating statements, tax returns, etc. 

 

The US government plans to award 5% of its prime and subcontract dollars to WOSB. To reach this target the government contracts are set aside for WOSBs to bid for them. This allows them to compete easily in the market. As per the WOSB information,SBA has also approved four organizations named El Paso Hispanic Chamber of Commerce, National Women Business Owners Corporation, United States Women’s Chamber of Commerce, and Women’s Business Enterprise National Council for providing third party certification.

 

 

WOSB certification does not intend to give any special treatment to women. It increases their visibility in the market. The WOSB certified companies can easily bid for Federal contracts in the public sector as set aside contracts allow them to avoid competition with companies with years of experience and extensive resources. In turn, the US government gets to meet innovative and new potential partners. It also gives the women owners access to a web of resources. The WOSB is designed to minimize competition and offer opportunities that can take a small business to the next level and thus benefits a lot of ambitious women who want to grow their small business organization.