What is WOSB?
A Women-Owned Small Business (WOSB) is a small business that is at least 51% owned and controlled by one or more women who are U.S. citizens (13 CFR Part 127). To qualify, the women must manage the day-to-day operations and make long-term decisions. The WOSB program aims to help women-owned businesses compete for federal contracts, with specific set-asides in industries where women are underrepresented.
How It Works in Practice
Illustratively, a construction firm owned and managed by a woman could qualify as a WOSB. The firm specializes in green building projects. When a federal agency puts out a solicitation for a green building construction project, the firm can compete for the WOSB set-aside, potentially winning the contract because of this status.
Why It Matters for Contractors
Contractors should review their ownership and control structures to determine if they qualify as a WOSB. This can open up new opportunities in industries with WOSB set-asides. Additionally, contractors should stay updated on the certification process and any changes to the WOSB program regulations.
Key Facts
- A WOSB must be at least 51% owned and controlled by one or more women who are U.S. citizens.
- The women owners must manage the day-to-day operations and make long-term decisions.
- WOSBs can compete for set-asides in industries where women are underrepresented.
- The Small Business Administration (SBA) oversees the WOSB program and certification process.
- Only small businesses, as defined by the SBA, can qualify as WOSBs.
Related Terms
- SDVOSB — Both WOSB and SDVOSB are programs that provide set-asides for specific groups of small businesses.
- HUBZone — Like WOSB, HUBZone is a certification that allows small businesses in historically underutilized business zones to compete for set-aside contracts.
- 8(a) — The 8(a) program is another small business development program that provides set-asides and sole-source opportunities.
- Set-Aside — WOSBs can compete for contracts that are set aside specifically for women-owned businesses.