Women-Owned Small Business Certification Preparation
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What is the Women Owned Small Business Certification?
If you are a woman and you own your business, you definitely want to get one of the following certifications, it brings many advantages and it could be a great step toward growing your business.
Women-Owned Small Business (WOSB)
This is a program coordinated by the Small Business Administration (SBA) with the goal of giving women-owned businesses more easier access to the resource they need to grow their business. The Economically Disadvantaged
Economically Disadvantaged Woman-Owned Small Business (EDWOSB) certification is a subset of the WOSB program.
Advantages of getting these certifications
You will be able to compete for federal contracts on a leveled play field, and particularly take advantage of programs designed to promote women in business.
Access to SBA loans
Expose your company to thousands other businesses through shared databases
Access to networking opportunities with organizations aiming to help women in business
Access to educational opportunities and training
In general....Brand Visibility and Business building
Increase your business 15% average(*)
Your business must:
Small Business (NAICS Standards)
Business owned by Women in excess of 51%
Women control the company unconditionally and directly
Women need to be U.S. citizen
For Profit Business
Not debarred or suspended by any federal entity
Most of operations occur within the United States
Additional to WOSB requirements:
A personal net worth of less than $750,000
Don't exceed $350,000 in adjusted gross yearly income averaged over the last three years
Assets that does not exceed $6 million ( Market value)
Additional to WOSB Requirements:
Women are economically disadvantaged (Minority) (under the guidelines of the WOSB Program)
-Asian Pacific American
-Subcontinent Asian American
How do I know if I am a small business?
You must meet the size standards corresponding to the North American Industry Classification System (NAICS) code that is your business’ primary industry classification. The primary industry classification is a six-digit NAICS code that best describes the primary business activity of the concern. The NAICS code designations are described in the NAICS manual available via the Internet at http://www.census.gov/NAICS and the size standards can be found at http://www.sba.gov/contractingopportunities/officials/size/table/i ndex.html.
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