As Whitley Patient Advocates (WPA) has grown over the past 3 years, becoming certified as a women-owned business seemed to be the next step for us. We are very excited to share our news with you and why this accomplishment is so important to us.
Why get Women-Owned Certified?
The Women-Owned Small Business (WOSB) and Economically Disadvantaged Women-Owned Small Business (EDWOSB) structures are important because they provide opportunities for women entrepreneurs to access federal contracts and become competitive.
These programs were established by the US Small Business Administration (SBA) to help address the historic underrepresentation of women-owned businesses in federal contracting.
In order to qualify we have to be at least 51% owned and controlled by one or more women who are US citizens, and the business must meet certain size standards for its industry. The EDWOSB program also requires that the women owners meet certain income and net worth requirements.
Participating in the WOSB and EDWOSB programs can provide several benefits for women-owned businesses. For example:
1. Access to federal contracts: The federal government sets aside a certain percentage of its contracts for small businesses, and a portion of these contracts are specifically reserved for WOSBs and EDWOSBs. This provides a valuable opportunity for women-owned businesses to compete for federal contracts and grow their business.
2. Competitive advantage: Being a certified WOSB or EDWOSB can give a business a competitive advantage when bidding on contracts, as some government agencies may be required to give preference to WOSBs and EDWOSBs.
3. Networking opportunities: The SBA offers networking opportunities and other resources to help WOSBs and EDWOSBs connect with potential partners and customers.
4. Business development resources: The SBA provides a range of business development resources to help WOSBs and EDWOSBs grow and succeed, including training, counseling, and access to capital.
Overall, we hope that these certifications bring awareness to our dedication as patient advocates and healthcare consultants. We hope that these certifications help level the playing field for women-owned businesses and provide valuable opportunities for growth and success to all we serve.