The SBA seaulavhas also referred to the Woman-Owned Small Business (WOSB) program as 8(m).  The Federal government must award 5% of its prime contracting dollars to WOSBs.  A WOSB set aside has the same limit as an 8(a) set-aside for award price including options not exceeding $6.5M for manufacturing or $4M for other contracts.

Yes I said it.  $6.5M for manufacturing or $4M for other contracts.

The goal of this short article isn’t to unload lots of information you don’t need, yet to direct you quickly towards the certifications that you are able to generate income with.

The SBA has established a list of applicable NAICS codes for WOSB and EDWOSB contracting set-asides that will be used to facilitate sole source awards until superseded by new data.  You can the 2012 WOSB-EDWOSB NAICS Code list at https://www.sba.gov/sites/default/files/files/2012_WOSB_EDWOSB_NAICS_Codes.pdf.

Requirements for WOSB

Requirement Description
US Citizen Applicants not born in the U.S. must provide documentation to show that they are U.S. citizens.  (Certificate of Naturalization or  U. S. Passport)
Small Business Must be small based on primary NAICS code
Woman-Owned A company must be at least 51% owned and controlled by one or more women, and primarily managed by one or more women.
Disadvantaged individual must be in control
  • No figureheads here.  If you think you are going to put your wife in charge and have her not be a part of the day today, the SBA will catch this.  The individual must have the following:
  • Hold the position of President or Chief Executive Officer, Managing/General Partner, or LLC Managing Member
  • Physically located in the U.S.;
  • Be the highest compensated individual;
  • Have the ability to Hire and Fire; and set Policies;
  • Have the capacity to commit company to contracts;
  • Have the ability to the control Financial Disbursement;
  • The woman must work at the business full-time during regular working hours
Economically Disadvanted Woman-Owned Small Business (EDWOSB)
  • Same Requirements as WOSB
  • Personal net worth (assets minus liabilities) is less than $750,000 excluding the Ownership in business and primary private residence
  • Adjusted gross income average over three years is $350,000 or less excluding the income reinvested or used to pay taxes on business
  • Fair market value of assets is $6 million or less excluding funds reinvested in IRA or another official retirement account

Application process

You will need to mark the box in SAM indicating whether you are a WOSB or an Economically Disadvantaged Woman-Owned Small Business (EDWOSB).  You must first obtain a login to the SBA’s General Login System (GLS) at https://eweb.sba.gov/gls/dsp_login.cfm.  Once logged in you will access the WOSB Repository and upload all required documents to the repository.  A WOSB is self-certified unless you want to utilize a 3rd party vendor to upload the documents for you.

GSA provides training programs and networking sessions around the country, along with one-on-one aid to deal with certain questions. WOSB Certification isn’t based on company size, number of workers, or profitability it is whether or not your company is mostly owned by a woman. Obtaining 8(a) certification isn’t an effortless affair either.

There are numerous opportunities in the modern market for an enterprising woman to come up with her own company, big or little. Clearly, they are a very entrepreneurial group! In the world of business, they are considered to be a minority regardless of their race.

If you satisfy these major requirements as a company owner, you can start the procedure for putting together your application. Most women are excessively busy leading their business and don’t have enough time to do lots of the administrative work connected with the application process.  The most crucial bit of advice to business owners is to not be lazy concerning the renewal procedure.  If your certification expires you must begin the application process all over again.

You need to forego any Fear which you have and jump into a new revenue stream.

For other tidbits about government contracting please investigate my book, available for purchase at Amazon.

The Minority and Woman-Owned Small Business Guide to Government Contracts: Everything You Need to Know to Get Started