Three Important Advantages of Obtaining a Certification for Women-Owned Businesses

 Can a certification for women-owned businesses help you generate more leads, land more contracts, and forge valuable connections? Find out the EDWOSB information and what a WOSB, EDWOSB, or WBE certification can do for your business.

The number of women-owned firms increased by 21% between 2014 and 2019, according to the State of Women-Owned Businesses Report, showing that female entrepreneurs are making progress across industries.

Getting certified as a women-owned business might give you access to both private and public contracts. But it also offers some other opportunities. Discover the many qualifications available and how to become qualified.

Three advantages of obtaining the certification for women-owned businesses

According to the EDWOSB information, obtaining certification doesn't immediately increase your income, but it does give you credibility because each of the three designations is well-known and regarded. Additionally, getting certified opens up new business prospects for you. The following advantages of certification:

1. To compete with larger firms, visibility is necessary

There is fierce competition for federal contracts. As per the EDWOSB information, Federal government agencies are required by law to accomplish contract goals by allocating a certain proportion of their contracts to WOSBs or EDWOSBs.

You can participate in set-aside contracts for particular industries and sectors in the North American Industry Classification System if you have a certification as a woman-owned small business (NAICS). Additionally, you can sign up for accounts with various databases, like the Department of Defense's System for Award Management (SAM).

As per the EDWOSB information among other things, private corporations collaborate with women-owned enterprises to benefit from tax benefits. Your company gets added to a database used by big businesses to achieve supplier diversity if you have a WBE certification.

You can display your certificate in person and online, such as on your website and social media pages.

2. Availability of learning and networking opportunities

The WOSB program is under the control of the Small Business Association (SBA). By searching the DOD Subcontracting Directory for a mentor, finding a protégé, and submitting an application, certified businesses can take part in the Mentor-Protégé Program.

As the Women's Business Enterprise National Council works to support female entrepreneurs and assist them in networking with leaders, having the WBE certification grants you access to a variety of tools.

For anyone engaged in any form of entrepreneurship, there may be opportunities, including:

Summit & Salute event every year

A national conference and trade show

Workshops

Keynote addresses

Webinars

networking and promotional occasions

3. Creating leads

According to the EDWOSB information you can view opportunities and submit bids for competitive set-aside contracts after you have your WOSB. You might also be eligible for sole-source contracts. The SBA guides small business owners and members of underrepresented groups through convoluted government contracting procedures.

You can access a database of Fortune 500 organizations once you are approved for the WBE certification. Search the list for prospective business partners who are enthusiastic about supplier diversity.

3 guidelines for applying for the certification for women-owned businesses

The best course of action is to identify which certification best meets your needs and focus your efforts on obtaining it first. The process can take several months to complete, so get started early and plan how you'll benefit after your company is approved.

1. Consult your neighborhood small business office.

Each of the aforementioned organizations provides different kinds of help for certification and other small business requirements. Examine the services offered, look at the certification choices, and determine whether your region has a local small business office.

By doing this, you might get a sense of what to anticipate and discover further options, such as business grants for women.

2. Acquire knowledge of public procurement

Find out which sectors offer female entrepreneurs the best prospects. Check out USASpending.gov first. You may get comprehensive information about the organizations engaged in the federal government's contracting process here.

3. Make a government registration.

Regardless of your WOSB status, you must register before you may submit a proposal to the government. You can acquire the MPIN code needed for your WOSB application on the SAM website. Obtain a DUNS number from Dun & Bradstreet (D&B), a special nine-digit identifying number needed for the WOSB accreditation.

Client trust is difficult to earn. One method to establish your credibility, create leads, and gain access to the assistance you need to stand out from your rivals is by adding a certification for women-owned businesses. For more EDWOSB information feel free to reach out to us.