Government Contracts for Women-Owned Businesses
As we end Women’s History Month, I’d like to take a moment to highlight the Women Owned Small Business (WOSB) program that provides an opportunity for women-owned small businesses to do business with the federal government. The federal government purchases a myriad of services and products each year and the program provides an excellent platform for women-owned businesses.
Who Qualifies : The WOSB must be small as defined by the SBA. That definition can be found here. The entity must be 51% owned and controlled by one or more women who are U.S. citizens. That means in an LLC, a woman must have 51% ownership of each class of membership. Control refers to not only the daily operations of the entity but the long-term planning as well.
Certification : In order to bid on contracts, the entity must be certified as a WOSB either by self- certifying or through third party certification by state government, local government, or an SBA approved certifying entity.
Industries: A range of industries are eligible for WOSB contracts. There are several industries identified by the SBA where women-owned business are underrepresented or substantially underrepresented, such as residential construction, transportation, and design. A full list of NAIC codes can be found here.
Resources: There are a ton of resources to educate women business owners on the process of bidding on federal government contracts and entities that will help a woman-owned business through the process.
If you are a small business with government contracts or seeking them and you need legal assistance we would love to an opportunity to meet with you. Contact us at 202-505-5309 or info@thesjslawfirm.com.
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