Is it worth obtaining a certification for businesses that are women-owned?

The United States Small Business Administration (SBA) offers a Women-Owned Small Business (WOSB) certification, providing access to a multitude of benefits and opportunities for businesses owned and operated by women. This certification also includes the Economically Disadvantaged Women-Owned Small Business (EDWOSB) classification for businesses that meet specific criteria.

To qualify for either WOSB or EDWOSB certification, a company must be classified as a small business with fewer than 1,500 employees, be at least 51% owned by women, and have women in management roles handling daily operations and long-term business decisions. For EDWOSB certification, a business must also meet the criteria for WOSB certification while demonstrating an economically disadvantaged background, often through an 8(a) certification.

The SBA simplifies the certification process with an online application tool and an online Q&A tool to determine eligibility before starting the application. Four third-party organisations—the Women's Business Enterprise National Council (WBENC), the National Women Business Owners Corporation (NWBOC), the WEConnect International, and the El Paso Hispanic Chamber of Commerce—have been approved to perform women-owned business certifications.

With a WOSB or EDWOSB certification, businesses can grow their customer base by receiving contracting or sales opportunities from large corporations. They may also qualify for more government contracts, including those set aside for women-owned small businesses. Additionally, companies can network with other female business owners at specific events and access educational resources provided by the SBA and third-party organisations.

Achieving this certification can also lead to finding business mentors to learn from. Certified businesses are eligible for programs and contracts specifically designed for women-owned small businesses. The certification lasts for three years, with re-certification options available after the period ends.

In summary, the Women-Owned Small Business certification offers numerous benefits and opportunities for businesses owned and operated by women. By simplifying the application process and providing access to various resources, the SBA encourages and supports the growth and success of women-owned businesses.