In order to be eligible as a VOSB (Veteran-Owned Small Business), a company must typically have a minimum of 51% ownership held by a veteran who assumes responsibility for the company’s direction and day-to-day management.
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In order to promote a fair business environment for women, the government has established the Women-Owned Small Business (WOSB) Federal Contract program, which restricts competition for certain contracts to participating businesses.
These contracts are specifically for goods and services in industries where women-owned small businesses are underrepresented, as identified by NAICS codes. Some contracts within the program are further limited to economically disadvantaged women-owned small businesses (EDWOSBs). The SBA maintains a list of eligible industries and their corresponding NAICS codes.
By joining the WOSB Federal Contract program, a business becomes eligible to compete for federal contracts that are reserved exclusively for certified participants of the program. These contracts, known as “set-asides,” offer opportunities specifically designated for WOSB-certified firms. Additionally, WOSB-certified businesses remain eligible to compete for contract awards through other socio-economic programs such as 8(a) and HUBZone, provided they meet the respective criteria.
It is important to note that the benefits of WOSB certification are applicable solely to federal contracting opportunities and do not extend to the private sector.
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To qualify as an Eligible EDWOSB (Economically Disadvantaged Women-Owned Small Business), the company must meet the following criteria:
It’s important to note that both WOSB and EDWOSB require unconditional and direct 51% ownership by women.
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The funding gap remains a significant challenge for women in business, with only 2.2 percent of venture capital going to women-founded businesses. Additionally, all-male founded companies receive funding approximately 35 percent of the time, while the number drops to less than 2 percent for women. This lack of financial support makes it difficult for female entrepreneurs to scale their companies, resulting in a lower percentage of women-owned businesses surpassing $1 million in revenue compared to men.
Accessing support platforms and mentorship is also challenging for female entrepreneurs due to a scarcity of women in influential business positions. Building professional communities becomes a hurdle, preventing women from finding mentors, sponsors, and supporters who could contribute to their success.
Despite the significant contributions of women leaders who generate trillions of dollars annually and lead prominent companies, gender stereotypes persist and undermine the capabilities of female entrepreneurs. Traits associated with entrepreneurship, such as self-esteem, risk-taking, decision-making, and confidence, are often erroneously considered “male only,” disregarding the strong identification of female entrepreneurs with these attributes.
Consequently, the prevailing image of an entrepreneur as a man leads women to underestimate entrepreneurship and leadership as viable options from a young age.
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To confirm the submission and track the status of your application, please follow these steps:
Remember, there are resources available to support you throughout the application process. The Knowledge Base on WOSB.Certify.sba.gov offers instructional videos, user guides, and additional information to assist you.
If you do not have a Small Business Certification, use the tool by clicking below
When you obtain a WOSB (Women-Owned Small Business) certification from the SBA (Small Business Administration), a three-year certification is granted. As part of the certification process, an annual attestation must be completed through the website https://wosb.certify.sba.gov/. If you are already certified through WBENC (Women’s Business Enterprise National Council), WBENC will handle your WOSB recertification annually and upload it as part of the attestation requirement. Click below to take our WOSB Certification eligibility questionnaire!
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