Benefits of Women-Owned Business Certifications
By Admin August 24, 2022 Category: Business Law Tags: chase law chase law group chase law manhattan beach deann chase edwosb los angeles los angeles business attorney los angeles county small business trial attorney wbe women owned business women owned business certification wosb
Are you a woman-owned business? Getting certified can open the door to new opportunities.
Having a women-owned business certification can help you build trust to set yourself apart from the competition and gain access to lucrative private and government contracts. There are several different types of certifications. Federal programs often look to do business with Women-Owned Small Business (WOSB) and Economically Disadvantaged Women-Owned Small Business (EDWOSB) and the private sector accepts the Women’s Business Enterprise (WBE) certification.
Build Credibility and Boost Visibility
Certification places your business in a database of suppliers used by private and government agencies when they’re contracting or going out for bids. This allows your business to compete with the bigger organizations. Fortune 500 corporations and federal projects often have requirements or may have tax advantages to do business with women-owned businesses to achieve greater supplier diversity.
Access Educational and Networking Opportunities
The Small Business Association (SBA) is responsible for overseeing the WOSB program and provides access to mentors, educational programs, conferences, workshops and more for their certified women-owned businesses. It is best to reach out to your local SBA office to speak with an advisor to learn more about the certification benefits and requirements. There are also numerous resources at the SBA’s online Women’s Business Centers for you to find grant announcements and important documents to build and grow women-owned businesses.
Generate Leads
By having a certification, not only do you gain access to bid on federal contracting programs, you’re also in a better position to do business with larger private corporations. As a WBE, you have access to a database of larger corporations looking to do business with certified organizations like yours.
How to get certified
There are several types of women-owned business certifications beyond those listed here. In order to get certified, it is best to start with the SBA. However, there are other third-party organizations that offer certifications including the Women’s Business Enterprise National Council (WBENC), National Women Business Owners Corporation (NWBOC) and the US Women’s Chamber of Commerce (USWCC). Each certification has their own eligibility requirements such as 50%+ women ownership, maximum income/asset threshold and you will need to provide information including your business financials, DUNS number and tax information.
For more information visit sba.gov.