Susan will explain to us her journey to becoming a Woman-Owned Small Business.
To help provide a level playing field for women business owners, the government limits competition for certain contracts to businesses that participate in the Women-Owned Small Business (WOSB) Federal Contract program.
These contracts are for goods and services in specific industries (identified via NAICS code) where WOSBs are underrepresented. Some contracts are restricted further to economically disadvantaged women-owned small businesses (EDWOSBs). SBA maintains a list of those eligible industries and their NAICS codes.
Joining the WOSB Federal Contract program makes a business eligible to compete for federal contracts reserved for the program’s certified participants. These contracts are known as “set-asides.” Provided they are eligible, WOSB-certified firms can still compete for contract awards under other socio-economic programs, including 8(a) and HUBZone.
It is important to note that WOSB certification benefits only apply to federal contracting opportunities, rather than those in the private sector.