EDWOSB is the term used for indicating Economically Disadvantaged Women-Owned Small Businesses. Small Business Administration certifies such disadvantaged women who have small businesses. To avail of all the benefits, you need to fill out and submit the SBA form. It is basically a contracting assistance program developed to help small businesses.
EDWOSB is a subset of WOSB. If a woman qualifies EDWOSB, then she will automatically qualify as a WOSB. There is no additional cost to add to the WOSB. People who are eligible for the WBE can only obtain WOSB certification.
So let’s keep it simple in order to understand if you can get EDWOSB certification or not. You need to make sure you have the following situations.
You are a woman.
You are in an economically disadvantaged position.
You have a small business according to SBA standards.
51% of your company is owned and controlled by women.
You want to do business in the federal market by acquiring government contracts.
Women manage day-to-day operations in your business.
Women are responsible for making long-term decisions for your business.
Your business must have a specific amount of earnings each year and should know to exceed that.
Hopefully, now you can understand what it takes to apply for EDWWOSB certification. So if you have all these criteria fulfilled then you can opt for EDWOSB certification.
Register your business with the System for Award Management
Only getting registered with a WOSB certification is not all you need to know. You also need to get registered with the System for Award Management (SAM), in order to be eligible for obtaining government contracts.
Now let’s discuss some benefits that come with EDWOSB certification.
Benefits of EDWOSB certification
The government of the United States has expanded opportunities for female business owners. The government has planned to award 5% of all the federal contracts to the WOSBs and EDWOSBs. The U.S. government sets contracts aside to achieve the goals.
It is quite challenging to compete for contracts with experienced companies in the federal market. Set-aside contracts enable smaller businesses to bid for contracts with peers. A lot of benefits are given to the EDWOSBs but mentioning all of them in a single blog is not convenient, so we have decided to cover a few common benefits that you must look at.
Increased visibility to compete with larger organizations
Nowadays more women are becoming entrepreneurs. There are more than 13 million women who are owning a business in the United States. The WOSB or EDWOSB certification increases exposure and strengthens business reputation from various angles. Getting recognized as a business owner is very much needed to take a position in an industry. If your small business gets unnoticed then it becomes tough to spread brand awareness. With increased exposure, EDWOSBs can bid on set-aside government contracts.
Receive more leads for bids & proposals
WOSB and EDWOSB certified business owners can participate in the SBA WOSB Federal Contracting Program. It provides a level for playing in the field for women-owned businesses. With the help of the program, the government limits the competition for certain contracts. As a result, small business owners do get an advantage in securing government contracts. The contracts have been developed for the industries where WOSBs are historically underrepresented. By joining the WOSB program, small business owners get to compete for federal proposals.
Access to education and networking opportunities
Some of the program skills are mentioned below:
Internal business management systems, marketing, manufacturing, accounting, and strategic planning.
Financial assistance.
Assistance for navigating federal contract bidding, procurement process, and acquisition.
Education on the market, international trade, and strategic planning.
Business development includes the identification of contracts, partnership opportunities, and strategies.
General and administrative assistance like human resources or support for security clearance.
Conclusion
Once the EDWOSB certification has been granted, you need to notice any further additional SBA required steps to participate in the EDWOSB federal contracting program. So in this blog, we have covered some essential information that will serve as a guide to getting you an EDWOSB certification. So wait for no further work hard to reach your goals.
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