Women-Owned Small Business Federal Contracting Program
The goal of the SBA programs for Women-Owned Small Businesses (WOSBs) and Economically Disadvantaged WOSBs (EDWOSBs) is to award at least five percent of all federal contracting dollars to women-owned small business each year.
These programs help provide a level playing field for women business owners. These contracts are for industries where women-owned small businesses are underrepresented. Examples of these industries are water supply and irrigation systems, residential remodelers, and commercial screen printing. A full list of industries that qualify according to the SBA is found here by clicking this link.
To be eligible for this program, your organization must be meet the definition of a small business. The SBA size standards define whether a business entity is small and thus eligible for such programs. The North American Industry Classification System (NAICS) has specific criteria for an organization to be defined as a small business. The business must be at least 51% owned and controlled by women who are U.S. Citizens. The litmus test for a women-owned business means that these individuals manage day-to-day operations and long-term decision making for the company. The firm must also be for profit.
Women-Owned Business Certification
Before a women-owned business can compete for federal contracts, they must apply for certification. Effective July 15, 2020, the SBA has a new, free online certification process for Women-Owned Small Businesses. Basic information you should have readily available for the application are incorporation documentation, your resume, and other business agreements or amendments.
Wilke & Associates, CPAs & Business Advisors can help you determine your eligibility, answer questions about the program, prepare for the application, and put you in touch with SBA program experts at certified lenders.
Amanda is a general ledger manager and business advisor at Wilke & Associates. She currently serves closely-held businesses using her prior experience as a corporate accounting manager in the manufacturing industry. Her resume includes serving clients in various business sectors to include distribution, logistics, real estate, and pension plans.