Companies have two choices to qualify as being a women-owned business that is smallWOSB) or economically-disadvantaged women-owned small company (EDWOSB) beneath the WOSB Federal Contract Program (WOSB Program). Organizations may self-certify or get yourself official certification from a single for the four party that is third authorized by SBA. Please be encouraged that certain is not beneficial throughout the other. A self-certification is free and a party that is third includes a cost.
If you opt to self-certify, the next five actions should really be taken:
- Review the eligibility needs for the WOSB or EDWOSB. A business must be controlled by one or more women who are U.S. citizens through ownership and management in order to qualify as a WOSB. Ownership must certanly be direct rather than at the mercy of any conditions. A lady must handle the day-to-day operations and also make the long-lasting company choices when it comes to company. The lady must support the officer position that is highest, shouldn’t be involved with outside work, and must work on the company full-time during normal company hours. So that you can qualify being an EDWOSB, a small business must fulfill most of the WOSB eligibility requirements. In addition, a number of ladies must show disadvantage that is economic. Detailed informative data on the eligibility requirements is supplied in Code of Federal Regulations Title 13 component 127.200.
A business must meet the following requirements in summary, to qualify as a WOSB