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Thursday, April 4, 2013

Why It's Important for Women-Owned Businesses to Become Certified

SBA Woman Owned Small BusinessWomen who own businesses and want to get supplier contracts with big companies or government agencies should consider completing a certification process. It's not enough to just say you are a woman-owned business. This might work in the local market but is not going to work for major corporations or government agencies looking to add more woman-owned businesses as suppliers and contractors.

According to the U.S. Small Business Administration (SBA), The Women-Owned Small Business (WOSB) Federal Contract program authorizes contracting officers to set aside certain federal contracts for both women-owned small businesses and economically disadvantaged women-owned small businesses.

Eligibility requirements include at least 51% ownership by women and managed by at least one women. Company size must not exceed 500 for wholesale and 1500 for manufacturing. Also, for a women-owned business to be economically disadvantaged, she must have a personal net worth of less than $750,000, and her adjusted gross annual must not exceed $350,000 for the past three years prior to applying for certification.

Women business owners may contact one of the certifiers listed on the SBA website to register and complete the certification process. Once the certification has been approved, the business can be uploaded into the SBA's Women-Owned Small Business Program Repository.

For more information, visit  www.sba.gov/content/contracting-opportunities-women-owned-small-businesses
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