How Does The Program WOSB help Small Businesses Owned By Women?

 WOSB also known as Women-Owned Small Business is a program that is authorized by the U.S. government. This program has been developed to support the women who own small businesses but are in an economically disadvantageous position.
Only business women who are interested in doing business in the federal market can opt for WOSB certification. There are certain requirements or we can say eligibility criteria that business women must fulfill to get into the WOSB program. Basically, WOSB helps such businesses to grow in the federal market.
In this blog, we are here to discuss how WOSB helps small businesses that are owned by economically disadvantaged women. 

Eligibility criteria

If you are a woman and you have a business then you cannot simply enjoy all the benefits by applying to the WOSB program. Your business needs to meet certain eligibility criteria to opt for the certification and get into the program.
The business size has to be small according to the SBA standards.
Women must have at least 51% of the ownership and control of their company.
Women have to manage day-to-day business operations and must have long-term goals.
The business women have to be the citizens of the United States.
Once you see your business having all these factors then you can opt for WOSB certification. 

 

 

How does WOSB help small businesses owned by women?

The government of the United States wants to omit gender inequality. The government does not want the women-owned small businesses to be underrepresented in the federal market. It is true that the federal market is highly competitive. So, it is quite tough to get recognition and make a remarkable position. This is because large companies are strong enough and it is tough for small businesses to compete with them in the federal market. As a result, WOSBs often struggle to prosper in the market.
That is why the government of the United States has developed several programs to support small businesses. For economically disadvantaged women the government has developed the WOSB program.
In simple words, WOSB helps such businesses to increase visibility in the federal market to compete with larger organizations. WOSB helps these participants of the program, to access educational and networking opportunities. If you are in the WOSB program then you will get useful resources and a scope of networking with leading companies. As a result, WOSBs get more chances of lead generation. 

WOSB program goals

As we got to know WOSB helps small businesses owned by economically disadvantaged women. In order to help, the government has set specific goals which help WOSBs to compete and sustain themselves in the federal market. So, let’s look at the WOSB program goals.
The federal government has the goal to award at least 5% of all federal contracting funds to women-owned small businesses each year. It will help them to gain monetary strength to compete in the federal market.
WOSBs also get set aside contracts. It means that the government limits competition for certain contracts to small businesses. These contracts are also called ‘small business set-asides’. As a result, WOSBs will get competitors who are at their level and the number of competitors will be lesser. So procuring contracts through the bidding process becomes easier for WOSBs.

Conclusion

It is a fact that the WOSB helps small businesses owned by economically disadvantaged women. You just need to meet the eligibility criteria for your business to obtain the WOSB certification. Once you have obtained the certification successfully then you can get all the advantages. So if you are a female citizen of the United States and you have a small business then you can give it a try to do business in the federal market.