We often get asked questions about becoming a woman owned or minority owned certified business. These certifications can have an impact on your business including inclusion in different government programs, new business opportunities and PR/Media opportunities too.
The Women Owned Small Business (WOSB) and Minority Owned Business (MOB) Certifications are a way for your business to exclusively promote itself to businesses looking to work with women owned or minority owned businesses.
What are the benefits of becoming certified?
There are many benefits to becoming a WOSB or MOB. When you become certified you will be granted access to major corporations and federal, state and local government contracts that accept the certification. You will also be able to apply for different scholarships, attend many education programs and will be given professional development/networking opportunities. Your company will also gain eligibility for prestigious business awards
How do I know if I classify as a Minority Owned Business?
At least 51% of your company must be “unconditionally and directly owned and controlled” by one or more minority group members. In addition to this, the business must also be managed and operated on a daily basis by one of the minority owners and the minority owner(s) must make “long-term” decisions for the business.
Groups that qualify as Minorities:
– African/Black American
– Hispanic American
– Native American
– Asian-Pacific American
– Asian-Indian American
You can check out the Minority Owned Business Certification process here.
How do I become woman-owned certified?
Let’s break down how you can become a certified woman-owned small business. There is a list of steps and criteria your business must meet before you can become certified.
STEP 1: Be sure your business meets all of the standards provided by the Small Business Administration (SBA)
- You must be considered a small business in your industry. The SBA also provides standards in regards to business and industry sizes. The requirements can be found here.
- At least 51% of your company must be “unconditionally and directly owned and controlled” by one or more women. In addition to this, the business must also be managed and operated on a daily basis by one of the women owners and the women owner(s) must make “long-term” decisions for the business.
A few more notes before you begin…
- You must request a DUNS number, if you do not already have one, you can do this here.
- You must register your business (for FREE…yay!) at SAM.
STEP 2: Gather your documents
- All the documents that need to be submitted can be found here.
STEP 3: Apply
Still have some questions? Visit this WOSB FAQ page for help!
And, if you’d like more information about getting your business certified or the different opportunities these certifications can give your business, let us know.