How to Become Certified as a Women Owned Business
As a woman running a business, you can sometimes feel like you are at a disadvantage. Luckily, the government and other organizations have created programs that assist women owned businesses. These programs can provide a wide range of benefits that will allow you to be more successful in your ventures.
Benefits
Being certified as a Women-Owned Small Business (WOSB) can provide you with a wide range of benefits and opportunities. The most commonly cited one is assistance in gaining contracts. These are because certain agencies are required to have a certain percent of their grants and contracts go to women owned businesses.
In addition, you can spread the word about your distinction to various associations. These associations will put you on their mailing lists, giving your priority access to a variety of opportunities.
Finally, your certification can be utilized in your marketing and networking materials. Many customers appreciate businesses that are women or minority owned. This is an easy way to let the public know.
Requirements for Women Owned Business
The requirements for being certified as a woman owned business are quite stringent. However, meeting the requirements can be very straightforward. The general requirements for this certification are:
- Can be considered a small business by NAICS code
- 51% owned by women
- A woman manages day-to-day operations
- Makes long-term business decisions
- Holds highest officer position in the company
- The woman works full-time during normal business hours
In addition, an Economically Disadvantaged Women Owned Business certification is available through the SBA. This additional certification can be extremely helpful for very small businesses. There are simply a few additional business and personal income and asset requirements to demonstrate.
Process
The certification process may seem a little daunting at first. However, once you have the requirement documentation together, it is not as horrible as it may seem.
First, you should gather all business and personal documentation that you may need. This will include
- Birth certificates (to prove US citizenship)
- Corporate information (if your business is a corporation)
- DBA certificate
- Financial documents (for EDWOSB
Next, register in SAM (System for Award Management) at www.SAM.gov.
Upload all of your required documents to certify.sba.gov
SBA will review documents and let you know of their decision.
In addition to self-certifying, you also have the option of becoming certified through a third party certifier. These are the options for groups that are allowed by the SBA.
- US Women’s Chamber of Commerce
- Women’s Business Enterprise National Council (WBENC)*
- National Women’s Business Owners Council (NWBOC)
- El Paso Hispanic Chamber of Commerce
More Information
The process may be slightly complicated at points. However, you can find additional information on the U.S. Small Business Administration’s website: www.sba.gov. The benefits of certification are well worth it for a wide variety of women-owned businesses.
