Women-Owned Small Businesses

Federal regulations require that women-owned small businesses (WOSB) have the maximum practicable opportunity to participate in performing contracts awarded by any federal agency. The regulations direct federal agencies to reach out to women-owned small businesses and make sure that they understand the process and are offered contract opportunities. As of this writing, there were no specific preference programs in this area and no requirements for formal certification. The system still recognizes self-certification.

However, if you are a women-owned small business and feel that you have been hindered in your efforts to do business, you can apply for certification as a socially and economically disadvantaged business under the SBA 8(a) program. See your local SBA office to discuss this issue.

One word of caution: If you are a male-owned business and you make your wife or another woman owner of 51 percent of the stock in order to qualify for 8(a) benefits, you are spinning your wheels. The SBA auditor will know what you are doing: 51 percent ownership is a red flag. Similarly, if the auditor comes to your office and sees that the male's office is bigger than the female's, you are not going to be certified. You must be able to show that the business is managed and controlled on a daily basis by a woman, and that the woman is the person who makes the life and death decisions of the company.

Work Smart If you are looking for information about opportunities for women-owned small businesses, a good place to start is on this website.