Agency: All Federal Agencies
WOSB: 4/13/2018 – 04/13/2019
EDWOSB: 06/21/2018 – 06/21/2019
WOSB – Woman-Owned Small Business
The WOSB program was created to provide opportunity for woman-owned businesses competing for federal contracts. Just like a qualified veteran-owned business, the Small Business Administration (SBA) sets goals for spending in these categories.
EDWOSB – Economically-Disadvantaged Woman-Owned Small Business
EDWOSB is part of the WOSB program. The EDWOSB is a certification for woman-owned business owners who qualify as economically-disadvantaged. Unlike the 8(a) program, there is no limit on participation in the WOSB program as long the business is eligible.
In summary, to qualify as a WOSB, a business must meet the following requirements:
- At least 51% unconditionally and directly owned by women who are S. citizens
- The woman must manage the day-to-day operations
- The woman must make the long-term decisions for the business
- A woman must the hold highest officer position in the company
- This woman must work at business full-time during normal working hours.
- No minimum amount of time for the business to be operational
To qualify as an EDWOSB, a business must meet all the requirements for a WOSB, as well as the following requirements:
- Personal net worth (assets minus liabilities) is less than $750,000 excluding:
- Equity in business and primary personal residence
- Income from LLC or S Corp that was reinvested or used to pay taxes of business
- Funds invested in official retirement accounts if unavailable until retirement without a significant penalty
- Adjusted gross income average over three years is $350,000 or less excluding:
- Income reinvested or used to pay taxes of business
Fair market value of all assets is $6 million or less excluding Funds invested in official retirement accounts if unavailable until retirement without a significant penalty
For more information please contact:
Margie Collins, Managing Principal/CEO