Women Owned Businesses and WOSB Joint Venture: What it Means

A woman-owned small business still faces some unique challenges, although they are more common today than 20 years ago. Women in male-dominated fields are still much more likely to be discriminated against, despite centuries of gender discrimination slowly but surely giving way to a more equitable future.
There are several benefits to running a small business for many women. For instance, the federal government in the United States introduced the Woman-Owned Small Business (WOSB) Federal Contracting Program as reparations for historically oppressed women entrepreneurs.

Joint Venture Agreements
WOSB joint venture are partnerships between two or more entities, usually owned by the same person or group of people. This particular joint venture is aimed at landing a federal contract. There will be a variety of specialties and skills brought to each bid, increasing the odds of it being awarded.

The steps for submitting a Joint Venture offer as a WOSB with another small business
Due to their limited specializations, small companies often submit government contracts through a wosb joint venture since they can't handle the project alone. WOSBs may be eligible to apply for federal contracts, but there are some rules to follow.

  • Each must qualify as a small business under SBA standards.
  • Managing the venture, along with day-to-day operations, is the responsibility of the woman-owned business.
  • Federal contracts must be performed by a woman-owned business.
  • A joint venture must create a separate entity, which must be majority-owned by women at least 51%.

Certification for small businesses owned by women
It is important to be a certified women-owned business before you can reap the benefits. A certification from the WOSB program certifies you to compete for government contracts with the federal government and for private sector contracts. There are a number of benefits provided by Upwork to certified women-owned businesses along with wosb joint venture (among other things).
WOSB certification includes these criteria:

  • Size and revenue standards are determined by the industry on the SBA's site.
  • The business must be 51% owned by women and led by women for day-to-day operations and major decisions.
  • Women must work full-time in the company's highest position.

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