Women-owned small businesses make up an increasingly large portion of the market for U.S. and Canadian federal, state, provincial, territorial, and local government contracts. For these businesses, the road to growing government sales can be bumpy, but once they have some experience and knowledge, there is a great opportunity to increase their government sales revenue.
This article explains how to find and win more women-owned small business government contracts so your company can maximize its public sector sales.
What is a Women-owned Small Business?
According to the U.S. Small Business Administration (SBA), to be considered a women-owned small business (or WOSB), a firm must be a small business according to SBA size standards.
They must also be at least 51% owned and controlled by women who are U.S. citizens. In Canada, the rules are similar, as a WOSB must be a Canadian business that is at least 51% owned, managed, and controlled by women.
Women-Owned Small Business Eligibility
To register your business as a woman-owned small business and get in line to potentially win small business set-aside contracts, your firm must meet specific criteria.
Here are six items on your women-owned small business certification checklist that your business must meet in order to qualify as an economically disadvantaged WOSB in the U.S.:
- Meet the small business size standard for the primary NAICS code and contract.
- 51% ownership by one or more women who are US citizens.
- Women must manage the day-to-day operations, make strategic decisions, hold the highest position, and work full-time during normal business hours. These programs aid small businesses by providing access to many sole-source, noncompetitive government contracts.
- Personal net worth less than $750,000, excluding ownership in business, personal residence, income reinvested or used to pay taxes, and funds reinvested in a retirement account.
- Adjusted gross income average over 3 years of $350,000 or less, excluding income reinvested or used to pay taxes.
- Fair market value of all assets is $6 million or less, excluding income reinvested or used to pay taxes.
Firms that are qualified as WOSBs, along with other socioeconomic categories, may be more likely to be awarded government contracts, especially if the buying agency is struggling to meet its socioeconomic contracting goals.
Tips on Women-Owned Small Business (WOSB) Certification
There are numerous resources specifically designed for women-owned businesses to better navigate the complex government contracting market.
Gaining certification as a WOSB (a business at least 51% owned by a woman or women) is a crucial strategy to qualify for certain set-aside federal government contracts that are not open to other businesses.
Most importantly, ensure your business meets the eligibility criteria defined above. It's also important to understand where to go to get certified:
- For the U.S. federal government, firms can compete for WOSB set-aside contracts once they successfully apply for certification on certifications.sba.gov.
- For Canadian women-owned businesses, WBECanada.ca is the hub for applying for women-owned small business certification.
- Different states and localities have their own WOSB certification programs, which are generally available on their agency websites.
Find Women-Owned Small Business Government Contracts
The first step to finding more government contracts for your women-owned small business is determining eligibility and making sure your business is properly certified. Once that is complete, there are different methods for identifying and pursuing the contracts that are the best fit.
The U.S. federal government limits competition for some contracts to businesses that participate in the Women-Owned Small Business (WOSB) Federal Contract program. The SBA keeps a list of industries that are eligible for those opportunities.
1. Network with other women-owned businesses, and other prime and subcontractors selling to the government
Building your network is a good way to keep your ear to the ground, find out what opportunities may be on the horizon, and learn when to get your foot in the door. It can also make it easier to partner with other businesses on opportunities or serve as a subcontractor on a larger prime contract if your business offers unique capabilities that pair well with another government contractor for a partnership or teaming agreement.
2. Build a strong online presence that emphasizes your core capabilities and your certifications
Having a solid web presence and website is a must-have to show that you are serious about winning government contracts.
For women-owned small businesses, displaying your certifications as a WOSB is an important part of this. Showing off your certifications and core competencies will make it easy for a government vendor researching your company to understand what your firm is all about and to determine that you are a good fit.
3. Leverage tools to surface government bids and market intelligence that can help you win more contracts.
Women-owned small businesses serious about increasing government sales revenue often invest in tools to find and win more government contracts.
For a small business, it can often be challenging to devote the time and resources needed to track all the potential government business opportunities and vet each to determine whether it is a good fit.
Tools like Deltek GovWin IQ can make this process easier by offering an all-encompassing market intelligence platform with the power to help women-owned small businesses plan beyond the proposal and gain a competitive advantage.
Next Steps to Get Women-Owned Small Business Government Contracts
Smart women-owned small businesses know they can't simply register on a government website and immediately begin winning small-business government contracts.
Companies in all industries can get ahead in their capture planning by using business development solutions that are specifically designed to help them create a powerful proposal, win a government contract bid, and expand their public sector sales pipeline.
Tools like GovWin IQ can provide your team with the most up-to-date information on the government market, along with expert research support and a full suite of powerful tools. GovWin IQ is the industry-leading platform for government contractors that provides small businesses with early awareness of new opportunities, deep planning intelligence, potential teaming partnerships, and the strategic insight that businesses need to get ahead of the competition.
