If you’re a woman-owned business, did you know you can get a women-owned small business certification that offers your access to several benefits and perks? These benefits include things like access to additional resources such as mentorship opportunities, education, development programs and tools, support from other woman-owned businesses, increased eligibility for national and regional awards, a broader range of marketing avenues, access to additional funding, and the ability to explore more business opportunities.
If this sounds like something you might be interested in, check out what you need to qualify and how you can apply below.
2 Types of Women-Owned Business Certifications and How to Qualify
There are two types of women-owned business certifications: women-owned small business (WOSB) and economically disadvantaged women-owned small business (EDWOSB).
In order to qualify for a WOSB certification, your business must:
- Be at least 51% owned and operated by one or more women of U.S citizenship
- Be managed by a woman on a daily basis
- Have a woman in the highest position in the company
- Qualify as a small business as outlined in the SBA standards
In order to qualify for a EDWOSB certification, your business must:
- Have a fair market value of assets worth $6 million or less
- Have a personal net at or below $750,000
- Have an adjusted gross average income at or below $350,000 over three consecutive years
Steps to Get Certified as a Women-Owned Business
1. Determine your eligibility
The first step is determining your eligibility. Depending on what certificate you’re applying for, make sure you meet the criteria listed above.
2. Gather all of the needed documents
There are many different business documents that you’ll need to gather prior to filling out the online application. These documents include things like general business information such as your business license, proof of citizenship for owners, financial statements, employee recorder, and governance informatio.
WBENC is a great resource for finding out exactly what documentation you’ll need.
3. Complete the online application
After you’ve gathered all of the necessary documents, it’s time to fill out the application. You fill out the application through self-ceritifcation via the U.S. Small Business Administration (SBA), or through a third-party certification site such as the U.S. Women’s Chamber of Commerce, the Women’s Business Enterprise National Council, or National Women’s Business Owners Corporation.
4. Provide proof of certification
The final step to seal the deal and be able to participate in the WOSB Federal Contracting program includes providing proof of certification to the Small Business Association. You can do this by signing up and uploading your certification through their website. Once they’ve received and approved your certification, they’ll send you a formal confirmation letter.
For more information, check out these additional resources to help you gather more information about becoming a certified woman-owned business:
- Center for Women & Enterprise (CWE)
- Ladies Who Launch
- Association of Women’s Business Centers (AWBC)
- National Association of Women Business Owners (NAWBO)
- List of documents needed for certification
- Code of federal regulations for WOSB and EDWOSB
- Association of Women’s Business Centers (AWBC)
- The U.S. Small Business Administration
Becoming a certified woman-owned business can provide you with endless opportunities to take your business to the next level. To ensure you have all you need to apply, use this downloadable checklist to help you determine if you’re eligible and stay on top of the required documentation.
