The Woman-Owned Small Business (WOSB) Program is a federal contracting program designed to provide greater access to government contracting opportunities for women-owned small businesses. Here’s an overview of what the WOSB program entails:
Definition of WOSB:
A Woman-Owned Small Business (WOSB) is a small business that is at least 51% owned and controlled by one or more women who are U.S. citizens.
Purpose of the WOSB Program:
The primary purpose of the WOSB program is to promote and support women entrepreneurs by providing them with increased access to federal contracting opportunities. The program aims to help level the playing field for women-owned businesses in government procurement.
Certification Requirements:
To participate in the WOSB program, businesses must first self-certify or obtain third-party certification as a woman-owned small business. They must also register in the System for Award Management (SAM) database.
Set-Aside Contracts:
The WOSB program includes set-aside contracts, which are contracts reserved exclusively for competition among eligible WOSBs or economically disadvantaged women-owned small businesses (EDWOSBs). These set-asides help ensure that women-owned businesses have a fair chance to compete for federal contracts.
Eligibility Criteria:
To qualify for the WOSB program, a business must meet specific eligibility criteria, including being a small business according to the Small Business Administration’s (SBA) size standards, being at least 51% owned and controlled by women who are U.S. citizens, and being managed and operated by women on a day-to-day basis.
Contracting Opportunities:
Participating in the WOSB program opens up various contracting opportunities across a wide range of industries and government agencies. These opportunities can include both prime contracts and subcontracting opportunities.
Benefits of Participation:
The benefits of participating in the WOSB program include access to set-aside contracts, increased visibility in the federal marketplace, networking and mentorship opportunities, and assistance with navigating the federal contracting process.
Conclusion:
The Woman-Owned Small Business (WOSB) Program plays a crucial role in advancing women entrepreneurs and promoting diversity in federal contracting. By understanding the program’s purpose, certification requirements, eligibility criteria, and benefits, women-owned small businesses can position themselves for success in the government marketplace. Contact us to learn more!
