Why WBENC Certification Is Just the Beginning of So Much More
Revenue and capital between women-owned enterprises and others still differ significantly. According to the 2019 State of Women-Owned Firms Report, there are roughly 13 million women-owned businesses in the United States, accounting for 42% of all organizations. That amount, however, has probably fallen as a result of COVID-19's effects on business.
It is for this reasons that being WBENC-Certified is more crucial than ever and candidates need WBENC help to get certified. The Women's Business Enterprise National Council (WBENC) and WBENC Certification are working to close the gap. Being a WBENC-Certified women-owned business may be quite beneficial, especially if you take the time to participate in the various events and networking opportunities offered all year long.
What Being a WBE and WOSB Certified Means
When a company receives WBENC Certification, it means that it has been thoroughly vetted, including a site inspection and the review of business records. WBENC has then determined that the company is at least 51% owned, controlled, operated, and managed by a woman or woman. Unlimited control over the company, proven management of day-to-day operations, and a proportionate commitment of capital or experience are requirements for certification.
Businesses that complete the process to become WBENC-Certified WBEs attest to the worth of doing so to gain access to the wide range of advantages and WBENC help get perks that can boost your company's profile and position you and your company for success.
Additionally, WBENC is a recognized third-party certifier for the Women-Owned Small Business (WOSB) Federal Contracting Program run by the Small Business Association (SBA). In addition to applying for WBENC certification, women-owned businesses can also apply for WOSB certification through WBENC. To help level the playing field for female business owners, WOSB certification allows a company to compete for federal contracts in fields where women-owned firms are underrepresented.
Additionally, WBENC is a recognized third-party certifier for the Women-Owned Small Business (WOSB) Federal Contracting Program run by the Small Business Association (SBA). In addition to applying for WBENC certification, women-owned businesses can also apply for WOSB certification through WBENC. To help level the playing field for female business owners, WOSB certification allows a company to compete for federal contracts in fields where women-owned firms are underrepresented.
Start Your Path to Certification
The procedure to become WBENC-Certified is not challenging, but the initial collection of the necessary paperwork can take some time. Re-certification, which is required annually, is a much simpler process, so don't worry! The effort businesses put into achieving certification is well worth it, as our WBEs have told us repeatedly.
A women-owned business must go through a documentation process and a site visit with one of 14 Regional Partner Organizations (RPOs) based on the location of the company's headquarters to be certified as a WBE. The 14 RPOs, located all around the nation, are WBENC partners and are permitted to handle WBENC Certification. The documentation process includes a careful examination of all business records, including those of ownership, the financial structure, the workforce, management, and governance. The organization is certified, not the owner.
Before beginning, study the WBENC Certification Process to see whether your firm qualifies and whether certification is appropriate for you and your organization. For the business to be qualified to apply for certification, it must:
the majority (minimum of 51%) one or more women owning the business
evidence that shows women are in charge of and govern businesses
Unrestricted female influence over the company's operations and legal papers
a female with the highest position listed in the company's legal records
evidence of female financial contributions and/or industry competence
citizenship or legal status in the United States for any female proprietors who own a majority stake in the business
Once you've established that your company qualifies (kudos! ), you should begin compiling the necessary paperwork. The online application submission process will go more quickly if the necessary paperwork is prepared in advance.
After that, you'll finish an online application on our protected platform.
Following the online application submission, WBENC conducts a two-step evaluation to determine whether each WBENC-Certified business satisfies the requirements and standards.
a thorough examination of the provided documentation
Interview with the female owner during the site visit
Here's where your regional partner organization (RPO) steps in. The RPO handles your application, makes sure all the paperwork is in order, evaluates it with the Certification Committee, and organizes the site visit.
Unsure of where to go for WBENC help but want to support them? Looking for one-of-a-kind presents that also contribute to a more varied economy? Stop searching because WBENC offers the ideal holiday gift recommendations for you. The Women-Owned Gift Guide is an online magazine-style compilation of goods from WBENC-Certified women-owned brands.
Are you prepared to begin seeking WBENC help? There is no time to spare in beginning the certification process and working toward the ability to expand the prospects available to your company. Visit our website or contact us directly for WBENC help and to get started.
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