How do I get my business certified as a Women-Owned Small Business or an Economically Disadvantaged Women-Owned Small Business?
To obtain favorable treatment in the federal contracting process, small business concerns that are 51% unconditionally and directly owned and controlled by one or more women who are U.S. citizens can be certified as a Women-Owned Small Business (“WOSB”) or an Economically Disadvantaged Women-Owned Small Business (“EDWOSB”). For now, certification may be obtained either by self-certifying to the U.S. Small Business Administration (“SBA”) or through an SBA-approved Third-Party Certifier, of which there are currently only four. However, self-certification is on the way out, so certification by a Third-Party Certifier will eventually be the only option. Certification requires that the business submit a substantial number of documents proving that the women owners meet all of the conditions for qualification as a WOSB or EDWOSB. The documents include proof that the women are U.S. citizens, that the business is “small” enough, and that it is at least 51% unconditionally and directly owned and controlled by women. As such, the documents cover a wide variety of information, including personal and financial information about the women owners, as well as the company’s personnel and financial and management structure. For example, a corporation must usually submit copies of its articles of incorporation, by-laws, stock certificates, stock ledger, and minutes of shareholders’ and board of directors’ meetings, including the organizational meeting. For more information, see our article on Getting Certified as a Women-Owned Small Business (WOSB).