Understanding the WOSB Federal Contract Program
Explore federal contracting with the WOSB Federal Contract Program and unlock your women-owned small business’s full potential.
Overview
- Federal Contracting is a highly competitive industry in which companies bid to win contracts from the government.
- Having a Women-Owned Small Business can give you a headstart in this race.
- This article will decode the WOSB Federal Contract Program.
Introduction
The WOSB Federal Contract Program opens the door for women-owned small businesses to compete more effectively in the federal marketplace. While federal contracting offers vast opportunities for growth and government collaboration, many small business owners hesitate to enter this high-stakes arena. Fortunately, the government provides set-aside programs for small, disadvantaged, women-owned, and veteran-owned businesses. This article will walk you through the essentials of the WOSB Federal Contract Program—eligibility, benefits, and how to get started.
What is the WOSB Federal Contract Program?
The Women-Owned Small Business Federal Contract Program is a government initiative made to increase opportunities for WOSBs in federal contracting. The federal government achieves this goal by setting aside a standard percentage of contracts for women-led businesses. The focus of this program is to provide women leaders a fair chance for competing in the federal marketplace.
Eligibility Criteria for the program
A small business must meet certain criteria to be eligible for the WOSB Federal Contract Program. One of the deciding factors is that a business must be owned and controlled mainly by a woman. It should be a small business based on industry standards. The headquarters of this business must strictly be located in the United States.
The WOSB Federal Contract Program assigns Contracting Officers (COs) to set-aside contracts and sole source awards for women-owned small businesses. This program is supervised by the SBA with regulations incorporated in the FAR. Moreover, the Economically Disadvantaged Women-Owned Small Business (EDWOSBs) is factored into this provision as a subset. To be eligible for this certification, the owner of the small business must claim their economic disparity.
What you must not forget is that not all NAICS codes are viable for WOSB procurements. In fact, only 365 and 80 NAICS codes are authorized for WOSB and EDWOSBs respectively. It is crucial to check whether your company’s NAICS code is eligible in your research for WOSB or EDWOSB set-asides.
Benefits of WOSB Certification
The WOSB Federal Contract Program serves as a benefactor for WOSBs as it opens gateways for unique opportunities.
Exclusive Government Contracts
Through this program, a certified women-owned small business can get access to specific federal contracts that are set aside exclusively. This enables a women-owned small business to compete for unique opportunities.
Combating Male-Dominated Industries
The WOSB Federal Contract Program maintains a balance in the playing field by limiting competition for specific contracts to WOSBs. Leveling the male-dominated business industries with underrepresented women-owned small businesses enhances diversity and inclusion.
Winning Set Aside and Sole-Source Contracts
In the competitive world of federal contracting, WOSBs can compete for sole-source contracts by paying heed to the 2-set formula. Moreover, WOSBs can also bid for contract awards under other socio-economic programs, like the 8(a) and HUBZone programs.
Enhanced Brand Visibility
A women-owned small business certified under the WOSB Federal Contract Program can tap into building direct connections with federal agencies and buyers. They can increase their visibility within the federal marketplace as primary contractors need to fill their 5% subcontracting goals.
A Platform for Networking
The WOSB Federal Contract Program secures admission to specialized training, educational programs, and a veritable web of networking opportunities. Under this program, a women-owned small business can tailor their community engagement to garner maximum optimization of resources.
How to Get Certified in the WOSB Federal Contract Program?
Broadly speaking, the certification process revolves around completing the application, providing substantial documents, and getting reviewed by the contracting officers. Although this process sounds minimal, it is anything but. There are two methods commonly used by women-owned small businesses; Self Certification and Third Party Certification.
Self Certification
Businesses can qualify for this certification by registering on the System for Award Management (SAM). This step is followed by uploading additional information onto the WOSB Program Repository. You will get your certification only when the Contracting Officer reviews and approves your submitted application.
Third Party Certification
The lengthy process of submitting applications and gathering documents can result in a drainage of sources for most small businesses. To expedite this procedure and reduce time wastage, you can hire one of SBA’s approved third party administrators. They thoroughly review your documents to check whether your women-owned small business meets standard requirements for a fee.
Conclusion
The WOSB Federal Contract Program performs as a gateway for achieving entrance to new markets with fair advantages to WOSBs. Get your business certified today to unlock opportunities for growth and networking in the federal marketplace.