Veteran-owned businesses made up about 5.9% (337,934) of all businesses, with an estimated $947.7 billion in receipts, approximately 3.9 million employees, and about $177.7 billion in annual payroll. Check below if you qualify for a VOSB (Veteran Owned Small Business) Certification!
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To verify military service, utilize the Defense Manpower Data Center’s (DMDC) Military Verification service. By providing the individual’s Social Security Number and other relevant personal information, the system will indicate if the person is currently serving in the military. The service is accessible online 24/7, and upon completion of the check, a signed printable letter with the Department of Defense seal will be generated, indicating either the absence of information or the individual’s military status.
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According to 13 C.F.R. § 125.11’s Subpart B, the regulations state that the term “Service-Disabled Veteran” is equally applicable to Veterans for determining eligibility. For a business to meet the requirement, it must be at least 51 percent owned directly by one or more Veterans.
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The definitions of “veteran” and “service-disabled veteran” can be found in the United States Code, specifically 38 U.S.C. 101(2) and (16), as established by the Department of Veterans Affairs. According to these definitions, a “veteran” refers to an individual who served in the active military, naval, or air service and received a discharge or release under conditions that are not dishonorable. On the other hand, “service-connected” indicates that a disability or death was incurred or aggravated in the line of duty during active military, naval, or air service. It is presumed that injuries or diseases acquired during military service were incurred in the line of duty, unless they resulted from the veteran’s own misconduct or abuse of alcohol or drugs, or were obtained while absent without permission or while under confinement by military or civilian authorities for serious crimes.
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By registering as a VOSB (Veteran-Owned Small Business) or SDVOSB (Service-Disabled Veteran-Owned Small Business), you gain the opportunity to do business with the VA. Additionally, you receive priority when bidding on contracts for other federal or state government agencies, along with tax relief and improved access to capital. If your startup or small business shows potential for high growth and innovation, you can expect extra support. The VA provides assistance in finding procurements, contract awards, and acquisition resources. You can access resources, education, and training to learn how to do business with the VA. Furthermore, the VA helps you build business partnerships and connect with key decision-makers in government and large private-sector firms. Throughout your entrepreneurial journey, the VA offers resources to guide you every step of the way.
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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
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