Benefits of Being Certified as a Women-Owned Business

Being a certified women-owned business comes with benefits beyond a badge. Certification is a powerful tool that can help you attract new customers, unlock opportunities and grow your company faster. It can open doors to federal government contracts, corporate programs for supplier diversity and special funding opportunities like grants. It can also connect you with other women entrepreneurs through networking events and mentorship programs, making it easier to work together and succeed.

Let’s explore some of the benefits of being certified as a women-owned small business.

Benefits of running a woman-owned business

Certification offers several advantages designed to help women entrepreneurs compete, succeed and scale their businesses.

Funding

Lenders cannot discriminate based on sex, age, race, religion, etc. So, there are no business loans specifically designed for women and minority-owned businesses. However, these certifications can get you access to alternative financing options like grants. Additionally, it can help you stand out in the crowdfunding space.

Contracts

The U.S. Small Business Administration (SBA) is a government agency that works to support small businesses. They set aside a percentage of contracting opportunities for certified women-owned small businesses every year. These federal contracting programs are often in industries where women are underrepresented. Your local government may have additional opportunities as well.

In the private sector, many large companies actively seek out women-owned businesses to diversify their supply chain. Not only can there be tax benefits to working with a women-owned business, but it also helps with DEI initiatives. Being certified can get you noticed by procurement executives, and can be a great way to get your foot in the door.

Support

A women-owned business certification gives you access to exclusive networking opportunities and events focused on women entrepreneurs. Organizations like the Women’s Business Enterprise National Council (WBENC) and the U.S. Women’s Chamber of Commerce offer mentorship opportunities, allowing you to learn from experienced business leaders and connect with other women in business. You can also visit your city’s women’s business center to learn more and get involved.

Resources

Being certified as a woman small business owner allows you to take advantage of training programs, workshops and other resources designed to help you run and grow your company. These can help provide advice on business development, marketing strategies, financial planning and leadership — giving you the tools you need to succeed.

Marketing

Certification is also a great marketing tool. It allows women business owners to highlight their status on their website, marketing materials and social media. Many third-party certifiers also allow you to use their logos, such as the “Women-Owned” badge from WBENC, which can help build trust with potential customers.

Promoting your certified status can differentiate your business from competitors and attract customers who seek out diverse businesses. This recognition can lead to increased visibility.

How to get certified as a women-owned business

The certification process isn’t as difficult as you might think. Here are a few steps you can take to get your women-owned business certification.

Choose the right certification. There are a number of organizations that offer a Women-Owned Business (WOB) or Women Business Enterprise (WBE) certification. These include the SBA’s Women-Owned Small Business (WOSB) or Economically Disadvantaged Women Owned Small Business (EDWOSB) certifications, the Women’s Business Enterprise National Council (WBENC), the National Women Business Owners Corporation (NWBOC), and the U.S. Women’s Chamber of Commerce (USWCC). Research each to see which may be a good fit for you.

Check your eligibility. To become certified as a women-owned company, you’ll have to meet the organization’s eligibility requirements. These differ depending on which certifier you choose, but in general the company must be at least 51% owned by women — and they have to have an active role in day-to-day management. You also may have to be a U.S. citizen and comply with all legal and tax requirements.

Complete an application. After choosing a certification and checking your eligibility, you’ll need to start the application process. You’ll need to gather some business and financial documentation and identification documents for the owners. You can typically complete an application online through the organization’s website.

Get certified. After completing your application and being approved, you can now promote your company as a female-owned business. You’ll also get access to the other benefits like new business opportunities, networking events and mentoring opportunities.

The bottom line

Certification as a women-owned small business can help you stand out in the business world, attract valuable partnerships and open doors to new opportunities. If you want to accelerate your growth, expand your network and maximize your business potential, becoming certified can be one of your most strategic moves.