Philadelphia Business Lawyer Sarah E. Holmes
  • Home
  • Attorneys & Areas of Law
    • Business Entities >
      • Corporations
      • Limited Liability Company (LLC)
    • Business Immigration
    • Business Purchase or Sale
    • Raising Capital & Investor Agreements >
      • Promissory Notes and Debt Financing
      • Private Placement and Equity Financing
    • Business Contracts >
      • Consulting Agreement
      • Employment Contracts
      • Independent Contractor (1099) Agreements
      • Website Terms and Privacy Policies
    • Copyright & Trademark
    • Hiring Employees/NDA/Non Compete
    • Estate Planning & Wills
    • Commercial Real Estate >
      • Commercial Lease
    • The Right Start Program
  • About
    • Speaking and Events
    • Client Testimonials
    • Privacy Policy/Terms of Use
    • Contact
  • Business Success Tips
  • Flat Fee Packages
    • New Businesses
    • Existing Businesses
    • Dispute Resolution
    • Trademarks & Copyright
    • Estate Planning
  • COVID-19 HELP

Should You Become a Certified Woman-Owned Business?

5/15/2017

1 Comment

 
Picture
I often get questions on becoming a certified woman-owned business. Women Owned Small Business (WOSB) Certification is certification for women-owned businesses to be eligible for work on federal contracts. Women’s Business Enterprise (WBE) Certification is for women-owned businesses to be eligible for and work on corporate opportunities that are also recognized by state and local entities. With certification to prove women have majority ownership and control of a business, a purchasing agent is assured that an entity representing itself as woman-owned is exactly that. Upon being certified, women-owned businesses now can participate in programs involving the utilization and tracking of their businesses. This allows these businesses access in new markets and contracts by taking advantage of the programs in publicly held corporations, as well as larger private corporations, whom track their business with woman owners. Most local, state, and government federal purchasing agencies track their dealings with woman-owned vendors and rely on the WOSB certification. These are huge incentives to become certified.

The downside for woman business owners is the strict certification process. However, if you’re thinking on starting the process of beginning your certification process to be woman-owned, it’s best to start straight away. WSOB requires the business be owned, controlled, and primarily managed by one or more women who are US citizens. The business must be small in accordance with SBA’s size standards for their industry, and demonstrate economic disadvantage in accordance with requirements in the final rule which qualifies the business for Economically Disadvantaged Women Owned Small Business (EDWOSB) certification. WBE requires women must manage, own, and control 51% of the business and the women owners must be US citizens or legal residents. Women must serve as President, CEO, or both. Finally, women must have ownership, officer position, and be active in daily management for at least 6 months.
 The U.S. Small Business Administration (SBA) has four 3rd party certifiers, as well as an option and guide to self-certify on their page. You should review each of these certifier’s costs and needed documentation, as well as SBA’s self-certification process to best fit your business’s needs.
1.)   El Paso Hispanic Chamber of Commerce
2.)   National Women’s Business Owners Council
3.)   U.S. Women’s Chamber of Commerce
4.)   Women’s Business Enterprise Network Council
While each party carries differentiating cost and time before their renewal, the most relied upon is the Women’s Business Enterprise Network Council (WBENC) with non-refundable fees relying on the 14 Regional Partner Organizations (RPO). When preparing your application for them, be ready to provide this documentation http://www.wbenc.org/documentation-required-for-wbenc-certification.
The process is cause for a few headaches, but potentially worthwhile to women owned businesses.


1 Comment

    Author

    Sarah E. Holmes is a Philadelphia business attorney and strategist that helps start ups and established businesses looking to expand, protect their assets and increase their profits in an approachable, down-to-earth way.  When you're looking for a business lawyer in Philadelphia, the Main Line or New Jersey, we can help.

    Categories

    All
    3D Printing
    3D Printing Classes
    Affordable Care Act
    Amanda Steinberg
    Authenticity
    Best Business Books
    Business Agreements
    Business Breakfast Seminar
    Business Funding
    Business Lawyer Near Me
    Business Partners
    Business Plan
    Business Social
    Capital
    Certified Women Owned Business
    Charles Baudoin
    Commercial Lease
    Contract
    Copyright
    Corona Virus
    Covid 19
    Dailyworth.com
    Disruptive
    Employees Vs Contractors
    E-myth
    Etsy Sellers
    Finance For Women
    Food & Founders
    Forbes
    Forbes 30 Under 30
    Force Majeure
    Franchise Agreements
    Funding
    Honeygrow
    How Did She Do That
    How To Get Press
    How To Get Product Distribution
    How To Hire Employees
    Insurance
    Internet Business
    Lawyer For Commercial Lease
    Lease Default
    Llc
    Manayunk
    Mindset
    Monica Lewinsky Speech
    Name Registration
    New Jersey Small Business Lawyer
    New Year
    Nextfab Studio
    Non Compete
    Obamacare
    Oculus Rift
    Operating Agreement
    Operating Agreements
    Owning Your Own Business
    PA Conference For Women
    Partnership
    Philadelphia
    Philly Maker Week
    Philly Manufacturing
    Resolutions
    Sara Blakely
    SBN
    Should I Quit My Job
    Small Business Advice
    Small Business Coaching
    Small Business Lawyer
    Small Business Week
    Start Up Business
    Start Up Business Reading
    Taking A Vacation When Self Employed
    Tax Season
    Trademark
    Trademark Registration
    Under 30 Summit
    Waivers
    Women In Business

    Archives

    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    June 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    May 2017
    April 2017
    December 2016
    November 2016
    October 2016
    September 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013

    RSS Feed

Holmes Business Law, P.C.
​Two Convenient Locations- Main Line and Center City
40 E. Montgomery Avenue (all mail)
4th Floor
Ardmore, PA 19003
and
1515 Market Street
Suite 1200
Philadelphia, PA 19102
215-482-0285
 

info@phillysmallbusinesslawyer.com

All site content is subject to copyright 2021 by Holmes Business Law P.C.
This website and its content herein constitutes attorney advertising.  Any content on this website should be construed as informational, not legal advice.  No information on this website is intended to create an attorney-client relationship.  Only a signed fee agreement between Sarah E. Holmes and the client will establish an attorney-client relationship.  Use of any information on this site is provided "AS IS" with no warranty of any kind, either express or implied.  Always consult with a licensed attorney in your own state for legal advice.
Photo used under Creative Commons from AK Rockefeller
  • Home
  • Attorneys & Areas of Law
    • Business Entities >
      • Corporations
      • Limited Liability Company (LLC)
    • Business Immigration
    • Business Purchase or Sale
    • Raising Capital & Investor Agreements >
      • Promissory Notes and Debt Financing
      • Private Placement and Equity Financing
    • Business Contracts >
      • Consulting Agreement
      • Employment Contracts
      • Independent Contractor (1099) Agreements
      • Website Terms and Privacy Policies
    • Copyright & Trademark
    • Hiring Employees/NDA/Non Compete
    • Estate Planning & Wills
    • Commercial Real Estate >
      • Commercial Lease
    • The Right Start Program
  • About
    • Speaking and Events
    • Client Testimonials
    • Privacy Policy/Terms of Use
    • Contact
  • Business Success Tips
  • Flat Fee Packages
    • New Businesses
    • Existing Businesses
    • Dispute Resolution
    • Trademarks & Copyright
    • Estate Planning
  • COVID-19 HELP