Is it time to think about getting a women-owned company certification? In the United States today, there are 11.6 million women-owned businesses, according to the National Association of Women Business Owners. A portion of these companies apply for certification as women-owned businesses, EDWOSB helps them qualify for special government contracting opportunities and particular public corporation initiatives.
Here is a closer look at what you need to know if you're interested in learning more about this critical path to growth for women-led businesses and how EDWOSB helps you in growing.
What Exactly Is a Women-Owned Certified Business?
The federal government wants to give at least 5% of its annual contracting budget to women-owned firms, according to the Small Business Administration. Additionally, a lot of big businesses have specific procurement plans that favor working with approved businesses.
Two certificates are available to women company entrepreneurs, giving them access to resources and possible clients from government contracts, also EDWOSB's help could support their future expansion. These consist of:
Women-Owned Small Business (WOSM): Your business must meet some requirements to be recognized as a WOSM, including but not limited to the fact that a woman must own at least 51% of the company and run day-to-day operations while also working full-time for the company.
Economically Disadvantaged Women: The EDWOSB initiative was created to give women from particular underprivileged groups more access to resources that promote business growth. There are a variety of income and asset-based requirements in addition to meeting the same requirements as a certified women-owned small business to get the EDWOSB help.
Being a Certified Women-Owned Business Has Benefits
Let's quickly review the main advantages and how EDWOSB help in participating in this program can provide to small businesses:
The first is being qualified to bid on government contracts that have been reserved for this use.
The second is the chance to conduct business with bigger organizations that assist WOSMs. "Most public organizations, as well as local, state, and federal government purchasing agencies, have plans for allocating a specific percentage of business to women-owned enterprises," one analyst stated in an interview with Forbes.
Finally, if you have a certification from a third-party organization, you may have access to their resources, mentoring, and networking possibilities.
Why the Process Requires Technology
Having access to the appropriate tools helps simplify the application procedure. Technology is essential to the certification process. Technology may assist women-owned small companies in some critical ways, in addition to making the process simpler:
Using certification to enhance your online presence:
When you receive the WOSM or EDWOSM designation, it strengthens your brand. The WOSM logo may be used on product packaging, digital sites, social media accounts, logos, and other materials. It can assist draw in more consumers and businesses and is a potent witness to the transformation your company has undergone.
Participating in networking and educational events:
If you chose third-party certification, several organizations provide mentoring, networking, and educational resources through online platforms. It is simpler to participate in these opportunities and helps to optimize the value of your certification if you have access to the correct technologies.
Supporting scale and growth:
It's critical to assess whether your infrastructure provides the scalability you require as new prospects for expanding your business arise. As your clientele expands, investing in cloud computing solutions, for instance, can make it simpler to add new software or storage. Investigate what technological investments will enable you to take full advantage of the fresh opportunities your certified business is creating.
Automating tasks to reduce workloads:
Small firms frequently deal with severe workloads and have to finish lengthy to-do lists with limited resources. Whether it's sending reminders for past-due payments or automatically processing new client data, technology can assist in automating mundane chores. To find EDWOSB help for opportunities for automation that will save you time, increase your efficiency, and ultimately free you up to concentrate on strategic and client-facing tasks, and evaluate your workflow and system.
Facilitating mobility
In the constantly connected and always-on corporate environment of today, the flexibility to complete work from any location is crucial. Whether you're on the road for business, at a client site, or just reacting after hours, the correct mobility EDWOSB help can let you work with clients or handle emergencies. The correct hardware, cloud-based access to critical apps, and a flexible cloud-based storage solution that enables you to safely access your data from any authorized device are three systems that must be in place. You can present the organized, strategic, and responsive brand image that makes you a great business partner by using the proper technical infrastructure.
Final Thoughts
Obtaining certification can help many women-owned small companies grow their customer base, gain access to new networks for learning and networking, and open doors to new business opportunities. You can get the most out of that process with the help of the appropriate technology and strategic strategy. Discover more right away, and then decide whether EDWOSB help you grow your small business.
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