Last year, I wrote about the basics of contracting and the 2 main Federal Certifications available to Small Businesses, the 8a Federal Contracting Program and the WOSB Program. In this article, I will be writing specifically about the Women Owned Small Business Contracting Program or the WOSB for short.
It is important to first understand that the Federal Government authorizes contracting officers to specifically limiting, or setting aside, certain requirements for competition solely between Women Owned Businesses. The Federal government MUST award 5% of its prime and subcontract dollars to women-owned small businesses.
What does this mean?
A whole lot of money. Since 5% of all funds must be awarded to Women Owned Businesses, only those who are recognized by the SBA as a Women Owned Small Business will be allowed to bid on these contracts. Hence, resulting in much less competition with a greater chance of winning the job. In addition, each Federal agency negotiates annual small business goals with the Small Business Administration (SBA) that presents, for that agency, the maximum practicable opportunity for small businesses.
The top 2 reasons Women Owned Businesses should become WOSB Certified:
1. If you are a women and own a business who may contract with the Government, this is a great way to increase your customer base and revenues. Think of it as a sorority you will belong to that only a hand full of businesses are a part of.
2. Whether you will be contracting with the Government or not, it is a great way to market your firm to potential customers as a Federally Certified Women Owned Small Business. Who wouldn’t want to do business with a Federally Certified Agency?
How SBC Consultants Helps you:
We have been trained by the SBA, which means that we have taken everything they do and applied it to our own clients. We know the ins and outs of the program and guarantee our clients CERTIFICATION. Visit our website today to see how we can help you become certified. http://www.sbclending.com//services-wosb-certifications.php
SBC Consultants Inc.