How Woman Owned Businesses Win Government Contracts
October 21, 2011
Did you know that getting certified as a woman owned business can help your company win government contracts? The Small Business Act came into effect February 4, 2011 and was established in order to help woman owned businesses get more work with the federal government. A 5% contracting goal has been set for woman owned businesses, and the SBA works closely with the government to ensure these companies get ample opportunity to compete in the federal market.
How do you know if you’re eligible as a woman owned business?
- Your company must be at least 51% woman owned AND controlled
- All women in your company must be US citizens
- Your company must be considered “small” compared to other businesses in your particular industry (this is usually determined by number of employees or annual receipts)
It’s important to note that the federal government does NOT require you to be certified as a woman owned business to win contracts, but in the long run this certification will help you win other contracts outside of the public sector. It’s always a good idea to go ahead and get the certification so that you aren’t limited in any manner to what type of work you are eligible to get.
The SBA website is full of useful information if you are interested in registering your company as a woman owned business. They also provide resources like training and in person assistance if you need some guidance in starting your company. These business centers are in most major cities, so browse their site to find a location close to you.