Curious about Woman-Owned Small Business (WOSB) programs? Here we answered some frequently asked questions (FAQs):
What is a WOSB Program?
The WOSB program is a federal initiative designed to provide contracting opportunities for women-owned small businesses in industries where women are underrepresented.
How do I Qualify as a WOSB?
To qualify as a WOSB, a business must be at least 51% owned and controlled by one or more women who are U.S. citizens. The business must also meet the Small Business Administration’s size standards for its primary industry.
What is the Advantage of Being Certified as a WOSB?
Certification as a WOSB allows businesses to compete for set-aside contracts reserved exclusively for women-owned small businesses. This designation enhances visibility, credibility, and access to government contracting opportunities.
How do I Become Certified as a WOSB?
Businesses seeking certification as a WOSB must complete an application process through the Small Business Administration or an approved third-party certifier. The application typically requires documentation to verify the business’s eligibility and ownership status.
Can WOSBs Bid on Contracts Outside of the WOSB Program?
Yes, WOSBs can bid on contracts outside of the WOSB program. In addition to set-aside contracts, WOSBs are eligible to compete for any federal contracting opportunity for which they qualify based on their size, industry, and capabilities.
Are There Resources Available to Help WOSBs Navigate the Federal Contracting Process?
Yes, there are resources available to help WOSBs navigate the federal contracting process. The Small Business Administration offers training, workshops, and counseling services to assist WOSBs in understanding the requirements, preparing proposals, and securing government contracts.
Conclusion:
Woman-Owned Small Business (WOSB) programs offer valuable opportunities for women entrepreneurs to access federal contracting opportunities and grow their businesses. By understanding the eligibility criteria, benefits, certification process, and available resources, women-owned small businesses can take full advantage of WOSB programs to succeed in the federal marketplace. Contact us to learn more!
