On This Page, You can easily know about How to Participate in the Women Owned Federal Contracting Program.
The Women-Owned Small Businesses (WOSB) Federal Contract Program helps to expand the opportunities available to WOSB by setting aside certain contracts for conducting business with the federal . It also helps Economically Disadvantaged WOSB (EDWOSB) to compete for federal contracts by setting them aside in specific industries. If you’re little business owned by women, you’ll determine your WOSB eligibility and certify your business intrinsically if you meet the wants . Once your business is certified, you’ll be ready to participate in, and compete for, various federal contracts that are put aside for you and other WOSB.
To help provide A level playing field for ladies business owners, the govt limits competition surely contracts to businesses that participate within the Women-Owned Small Business (WOSB) Federal Contracting program.
WOSB and EDWOSB certification improvements
The certification process for Women-Owned Small Businesses (WOSBs) and Economically Disadvantaged WOSBs (EDWOSBs) changed in 2020. SBA implemented Congress’ changes to the WOSB Federal Contracting program, as put forth within the 2015 National Defense Authorization Act (NDAA).
These updated regulations make it easier for qualified small businesses to participate within the WOSB Federal Contracting program by improving the customer experience. At an equivalent time, SBA is strengthening oversight and maintaining the integrity of the certification process.
Determining EDWOSB Program Eligibility
Determine the owner’s gross income average. To be eligible as an economically disadvantaged woman, the business owner must have an annual income average of but $350,000 (calculated over three years). When making this calculation, you’ll exclude the woman’s reinvested income and any money wont to pay the business’s taxes.
Obtaining WOSB Program Certification
Pay a fee if you’re browsing a third-party certifier. If you self-certify, you’ll not got to pay any fee for certifying. However, if you employ an approved third-party certifier, you’ll need to pay a fee for his or her service. once you undergo a third-party, they’re going to assist you through the method of compiling and uploading the specified documents. As of 2016, the sole third-party certifiers available are:
- The US Women’s Chamber of Commerce
- The Women’s commercial enterprise National Counsel
- The National Women’s Business Owners Council
- The El Paso Hispanic Chamber of Commerce