Can a women-owned commercial enterprise certification assist you increase leads, steady contracts, and make moneymaking connections? Learn how your company advantages from a WOSB, EDWOSB, or WBE certification.
According to the State of Women-Owned Businesses Report, woman marketers hold to make headway throughout industries, with the variety of women-owned agencies growing through 21�tween 2014 and 2019.
Getting your women-owned commercial enterprise certification can open the doorways to personal and authorities contracts. But it additionally presents numerous different possibilities. Learn approximately the exclusive styles of designations and a way to get certified.
Overview: What is a women-owned commercial enterprise certification?
The women-owned commercial enterprise certification consists of designations for operating with the federal authorities and doing commercial enterprise with municipalities or the personal sector. The styles of certificate include:
Women-Owned Small Business (WOSB)
Economically Disadvantaged Women-Owned Small Business (EDWOSB)
Women’s Business Enterprise (WBE)
Although eligibility differs through certification, in maximum cases, your commercial enterprise should have over 50�male ownership. To take part in federal packages as a woman-owned commercial enterprise, you want yourEDWOSB or WOSB certification. Private corporations take delivery of the WBE designation.
three advantages to getting the women-owned commercial enterprise certification
Although certification doesn’t right away increase your revenue, it offers you credibility, as all 3 designations are famous and trusted. Plus, certification exposes you to new entrepreneurship possibilities. Benefits of certification include:
1. Visibility wanted for competing with large corporations
Competition for federal contracts is stiff. By law, federal authorities organizations should meet settlement desires through meting out a percent of contracts to EDWOSBs or WOSBs.
A women-owned small commercial enterprise certification lets in you to take part in set-apart contracts for distinctive industries and sectors withinside the North American Industry Classification System (NAICS). You also can register with a couple of databases along with the Department of Defense’s System for Award Management (SAM).
A partial listing of the qualifying NAICS for the women-owned small commercial enterprise federal contracting program.
Before making use of for the WOSB, take a look at the qualifying NAICS for the federal contracting program. Image supply: Author
Private businesses additionally paintings with women-owned agencies to take gain of tax breaks, amongst different reasons. With a WOSB certification, your commercial enterprise is introduced to a database utilized by big businesses to achieve dealer diversity.
You can show off your certificates each online, say on your internet site or social profiles, and at your bodily commercial enterprise location.
2. Access to instructional and networking possibilities
The Small Business Association (SBA) oversees the WOSB program. Certified agencies can take part withinside the Mentor-Protégé Program through looking the DOD Subcontracting Directory, finding a mentor, and making use of.
A WBE designation offers you get entry to to many resources, as the Women's Business Enterprise National Council pursuits to endorse for woman marketers and assist them community with leaders.
There are capability possibilities for people involved in all styles of entrepreneurship, including:
Annual Summit & Salute event
National Conference & Business Fair
Workshops
Keynote speeches
Webinars
Networking and advertising and marketing events
3. Lead generation
Once you've got got your WOSB, you could get entry to possibilities and publish bids for aggressive set-apart contracts. Furthermore, you can qualify for sole-supply contracts. The SBA allows small commercial enterprise proprietors and deprived agencies navigate the complicated federal contracting packages.
Once you qualify for the WOSB certification, you could get entry to a database of Fortune 500 businesses. You can scour the listing to discover capability commercial enterprise companions interested by dealer diversity.
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