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February 4th 2011 is the date the WOSB program becomes effective.
- Sara Ryan
SBA determined that additional help was needed for Woman Owned Small Businesses
- Sarah Lam
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Woman Owned Small Business or WOSB grants certain businesses access to federal contracts set aside exclusively for them.
Woman owned businesses make up vital parts of every industry that does business with the federal government. The preference that WOSB grants these businesses allows them to compete on equal footing with non-WOSB applicants for federal contracts.
The US Federal government places set-aside requirements on all federal agencies these grant WOSB entities a chance at a share of the federal spending
they would otherwise be excluded from by other firms. The breakdown is as follows for small businesses in the SBA’s 8a business development program:
5% SDB (Small Disadvantaged Business).
5% WOSB (Woman Owned Small Business).
5% Veteran Owned Small Business.
3% HUBZone (Historically Underutilized Business).
Total – 23% for all 8a small businesses
There is not an SBA WOSB Grant program available for existing or startup WOSB companies.
The SBA gives grants to private non-profit organizations, not WOSB 8a small businesses.
A WOSB could not both receive a non-profit WOSB Grant as well as a WOSB Certification because the Certification is only for, for profit entities.
Federal Grants given to organizations are not bound by the same regulations as that of Federal Contracts.
For Federal contracts the targets set that the entity receiving the contract in excess of $500,000 must comply with the following SBA goals:
Once again the SBA does not have a WOSB Grant program.
There are some grant opportunities available with private foundations but these usually favor a certain type of industry such as environmental technology or new business models.
The following are classified by the first four digits of the NAICS codes and either the maximum revenue...
How it Works
WOSB NAICS Codes
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