Small business development program is one of the most premium forms of the economic development of the federal states. Among the most popular ones, 8(m) Certification and WOSB certification are one of the most popular programs for supporting the women business entrepreneurs. Now that a large number of women are coming into business, such programs are offering them a platform to soar high. With programs like WOSB certification, women are not only accessing the same resources like their male counterparts but also are becoming economically self-sufficient.
What’s the fuss about WOSB Certification
To be precise, it’s difficult to get into the scene, even though it looks like a torchbearer for the women entrepreneurs. First of all, the list of eligibility criteria to get into this program is pretty demanding. True, that every federal evaluation process is rigorous and involves multiple process. To evaluate the potential of an applicant, the federal government passes through several steps of appraisal. In order to get grant in the name of WOSB Certification or women owned small business certification, you have to have a strong background and impressive business ideas to back you. Hence, it’s always advisable that you first evaluate your own business before opting for a certain program.
The Business Landscape is becoming Smooth for the Women Entrepreneurs
The scenario was not this sunny even five years back. Recognizing the potential of women entrepreneurs in running a business the US federal government has started supporting their way with an objective to make their way a lot smoother. The pandemic has certainly played a role in However, the basic objective of the federal agencies is to uplift the standard of state economy by backing up the Women-Owned Small Business companies. So, being a women entrepreneur you must take a look at the advantages like WOSB certification that are available for you to take a step further towards being economically independent. Considering the end result of the women business certifications you can be rest assured about the fact that no other business development plan can drive the growth of a company like any other business certifications do.
WOSB is not a Direct Funding Process
Well, at the same time you must understand the fact that WOSB certification is not a direct funding process and so you should not expect to get funded immediately after being certified by the company. Funding is only provided when the contract is duly signed by the authority. However, once being certified your small business becomes eligible to opt for other funding supports offered by various governmental and nongovernmental organizations. Now, as we have stated above that the eligibility criteria of this program is not very simple to go through you need to hire a professional certification consultant to get an idea about the issues and possible hassles.
Is Your Firm Eligible?
To see if your firm is eligible for the WOSB certification the consulting firms will ask you the following questions. The answers are supposed to be positive but in case there are some negative replies you can be rest assured that your application process will inevitably experience the impediments. To the very first place you must determine if 51% of the business entity is owned and operated by a woman or group of women who are US citizen(s). Second question is if the woman owners of the firm document their status as both female and US Citizenship by a birth certificate, naturalization papers or passport.
Final Thoughts
Most important thing is at least one woman should own, manage and control the day to day operations of the firm that is opting for the WOSB certification. If a woman is holding the highest position in the firm, her earning should be commiserating with past earnings of the employees of the firm. Apart from that the woman owners should devote full time to the management of the firm and the ownership must possess all of the necessary technical expertise, experience and certifications in order to manage the firm without relying on others. So, go through the eligibility issues in detail to get well assured about your future success.
