Woman-Owned Small Business Registration (WOSB/EDWOSB)

/Woman-Owned Small Business Registration (WOSB/EDWOSB)
Woman-Owned Small Business Registration (WOSB/EDWOSB) 2018-01-03T19:36:27+00:00

Economically Disadvantaged Woman-Owned Small Business (EDWOSB) and Woman-Owned Small Business (WOSB) Certification

Why should your Small Business concern pursue a federal government Economically Disadvantaged Woman Owned Small Business (EDWOSB) program certification?

 This federal program makes it easier for women-owned firms to compete for, win federal contracts, and ultimately grow. Under Federal Law (Public Law 106-554), this program provides federal agencies a tool to achieve WOSB contracting goals (5% of its prime contracting dollars must be awarded to WOSBs).

Did you know that last year the U.S. Federal Government purchased $19.67 Billion in goods and services from 16,500 federally certified EDWOSB and WOSB small business concerns?

Per the SBA the Women-Owned Small Business (WOSB) Federal Contract Program promotes competitiveness for certain federal contracts for elegible and qualified Women-Owned Small Businesses (WOSBs) and Economically Disadvantaged Women-Owned Small Businesses (EDWOSBs).

Set Aside Contracts for Women

The WOSB Federal Contract Program allows Contracting Officers (COs) to set aside contracts for WOSBs or EDWOSBs under certain conditions.

  1. Industries:
    1. WOSB: NAICS code assigned to contract solicitation is in an industry in which WOSBs are substantially underrepresented (92 Industry Groups – 365 NAICS Codes).
    2. EDWOSB: NAICS code assigned to contract solicitation is in an industry in which WOSBs are underrepresented (21 Industry Groups – 80 NAICS Codes).
  2. “Rule of Two”: Contracting officer has reasonable expectation that 2 or more WOSBs will submit an offer.
  3. Award Price: Contract must be awarded at fair market price.

Sole Source Contracts for Women

Per the SBA, as of December 2015, the program also allows Contracting Officers (COs) to grant contracts to WOSBs and EDWOSBs under Sole-Source Authority:

  1. Is the contract in a WOSB/EDWOSB eligible NAICS code?
  2. Is the contract (including options) valued at $6.5 million or less for manufacturing contracts or $4 million or less for all other contracts?
  3. Can the contract be awarded to the WOSB/EDWOSB at a fair and reasonable price?
  4. In the determination of the contracting officer, is there a reasonable expectation that there is only one WOSB/EDWOSB that can perform?

In March 2016, the eligible Industries were revised and expanded to 113 based on the new Department of Commerce Study. A total of 36 new industries added to Program, 6 industries removed from Program, and 27 industries had designation changed (between WOSB and EDWOSB).

Eligibility

WOSB Program

In order to be eligible for the WOSB, you and your business MUST meet the following criteria:

  • Meet small business size standard for primary NAICS code and contract
  • At least 51% unconditionally and directly owned by women who are U.S. citizens
  • The woman must manage the day-to-day operations
  • The woman must make the long-term decisions for the business
  • A woman must the hold highest officer position in the company
  • This woman must work at business full-time during normal working hours
  • No minimum amount of time for the business to be operational

EDWOSB Program

In order to be eligible for the EDWOSB Program Certification, you and your business MUST meet the following criteria:

  • Personal net worth (assets minus liabilities) is less than $750,000 excluding:
    • Ownership in business and primary personal residence
    • Income reinvested or used to pay taxes of business
    • Funds reinvested in IRA or other retirement account
    • Transferred assets within two years if to or on behalf of immediate family member for select purposes
    • Adjusted gross income average over three years is $350,000 or less excluding:
    • Income reinvested or used to pay taxes of business
  • Fair market value of all assets is $6 million or less.

The WOSB and EDWOSB Certification process is laborious and paper intensive!
Fortunately, Rafael Marrero & Company takes the headache out of the WOSB and EDWOSB application process!

  1. Call us today for a FREE consult at 888-595-6221 to check if your Woman-Owned business qualifies for these special small business programs. Today’s call can unlock tomorrow’s growth potential.
  2. Schedule a FREE one-on-one consult with our award-winning founder and CEO, Rafael Marrerohttps://calendly.com/rafaelmarrero
  3. Email us for a FREE FACT SHEETinfo@rafaemarrero.com