How Women Entrepreneurs can get Government Contracts

Have you ever come across any words like “it’s difficult for women to succeed in business”? Well, that’s a common idea runs in the society even today. But, with various women specific certifications, female entrepreneurs can now have an opportunity to expand their horizons. And get government contracts that serve you a long term income source. 

  

Over the years, the federal government has been a key player in financially strengthening the small business of the Federal states. Accordingly, several certifications and financial grants were made available for the budding entrepreneurs so that they can grow their business and become a part of the mainstream economy.

Even women entrepreneurs were the part of these development programs launched by the government. The aim of the program is to help female business owners to fight away the challenges and trials they have to face in socio-economic and even in the legal premise.

Female owners with small businesses get WOSB certification to have a firm place in the federal marketplace and get government contracts. Like other business certifications, this one is also intended to help qualify female business enjoy access to the resources needed to grow.

So, what’s exactly is WOSB Certification?

It is specifically a business development program designed by the Small Business Administration (SBA) of the Federal Government with an aim to support female entrepreneurs of the country. Much like the other support programs, this one is exclusively designed for women entrepreneurs access public and private contracts that they might not have otherwise.

WOSB Certified companies can officially compete for federal contracts and gain access to other free resources that SBA provides to the small and growing entrepreneurs of the state.

The program delivers exclusive certification from the government. It helps WOSB-certified companies to compete for federal contracts and gain access to other free resources the SBA provides.   If you are a female entrepreneur and looking to get government contracts, getting WOSB Certification is the best thing you could ever expect.    

Benefits of Having WOSB Certification

The prime benefit of WOSB Certification is that it opens doors to federal business space. They can compete for the public contracts like other male entrepreneurs do. Moreover, Government has decided to give 5% of the public contracts to small businesses that are owned by women or WOSB. The good news is these 5% of the contracts are released from the industries in which women are underrepresented.

Can You Apply for WOSB Certification

Though it is primarily aimed for the women entrepreneurs, it’s true that you cannot have it for just being a female. Other criteria always come into play, when you try to get government contract. Here is a list of all those aspects that are reviewed before giving WOSB Certification.

·         51 % of your company’s share should be owned by any woman or a group of women who

         are citizens of the U.S. 

·         A woman or women must be the operational in charge of the business.

·         The highest official position of the company must be chaired by a woman. 

·         A woman or a group of women should be the key decision maker of the company.

·         The personal net worth should not be greater than $750,000. 

·         The fair market value of your company’s total assets must not exceed $6 million. 

·         Your adjusted gross for three cumulative years should not be more than $350,000.

A great thing about any government certification process is that you can get it even in the initial days of the business.

Contract Programs for WOSB Certified Business

Businesses with edwosb benefits can participate in the following contract programs to maximize their chance of winning contracts. If done perfectly, you can easily get government contract and set yourself for long term income stream.      

Competitive Set-aside contracts

Government agencies set aside 5% of the contracts for minority- and women-owned business. It means, if you can fulfill the criteria of the government requirement, it will be easier to eliminate your competitions. The idea is to award contracts in industries where women are underrepresented. But your wosb certification will position your business over non-certified entities also vying for the contract. 

Sole-Source Contracts

Unlike their counterparts, sole-source contracts eliminate the bidding process. If your company is the only one that can fulfill the project, you can be given access to lucrative contracts, up to $4 million for goods and services and $6.5 million for manufacturing jobs.

Final Thoughts

A female owned business is great, but with a government certification your business gets its position that you need to attain that firm foothold in the highly competitive federal marketplace.