Did you know that certifications may be helpful in securing government contracts? Government agencies and departments have specific requirements that businesses must meet to be eligible to bid on contracts, and certifications may help businesses meet those requirements. For example, many government agencies have set goals for awarding contracts to small businesses, minority-owned businesses, and veteran-owned businesses. Today, we are going to discuss one certification that may help women-owned businesses secure government contracts.
The National Women Business Owners Corporation (NWBOC) is a third-party certification program that provides a Women's Business Enterprise (WBE) certification for women-owned businesses. This certification is recognized by numerous corporations and government agencies, including the Small Business Administration (SBA) and the Women's Business Enterprise National Council (WBENC). In this blog, we'll explore the NWBOC certification program for government contracts and what it means for women-owned businesses.
What is the NWBOC Certification Program?
The NWBOC certification program is designed to help women-owned businesses gain access to corporate and government contracts. The program requires businesses to meet specific eligibility requirements and undergo a rigorous certification process to ensure that they are indeed owned and operated by women.
To be eligible for the NWBOC certification program, a business must meet the following criteria:
The business must be at least 51% owned and controlled by women.
The business must be managed by women who are U.S. citizens or legal residents.
The business must have a business plan and be financially stable, among other criteria.
Once a business meets these eligibility requirements, it can begin the certification process. The process involves a comprehensive review of the business's ownership, management, and operations to ensure it meets the NWBOC's standards. The certification process can take several months to complete, but once a business is certified, it can begin to take advantage of the benefits that come with being a certified WBE.
What are the Benefits of NWBOC Certification for Government Contracts?
The NWBOC certification program offers several benefits for women-owned businesses looking to secure government contracts. Here are just a few of the benefits:
Access to Government Contracts: One of the primary benefits of NWBOC certification is that it gives women-owned businesses access to government contracts. The federal government has a goal of awarding 5% of its contracting dollars to women-owned small businesses, and NWBOC certification can help businesses qualify for these contracts.
Competitive Advantage: NWBOC certification can also give women-owned businesses a competitive advantage when bidding on government contracts. Many government agencies and corporations have diversity programs that encourage the awarding of contracts to women-owned businesses, and NWBOC certification can help businesses stand out from the competition.
Networking Opportunities: NWBOC certification can also provide women-owned businesses networking opportunities that lead to new business relationships and partnerships. The NWBOC hosts events and conferences that bring together women-owned businesses and corporations looking to do business with them.
Access to Resources: Finally, NWBOC certification can provide women-owned businesses with access to resources that can help them grow and succeed. The NWBOC offers training programs, mentorship opportunities, and other resources that can help businesses develop the skills and knowledge they need to succeed.
In conclusion, the NWBOC certification program is an important resource for women-owned businesses looking to secure government contracts. The program offers a range of benefits, including access to contracts, a competitive advantage, networking opportunities, and access to resources. Women-owned businesses that meet the eligibility requirements should consider pursuing NWBOC certification to take advantage of these benefits and grow their businesses. And if you need a business plan as part of the bidding process for government contracts, make sure to call Visa Business Plans. We have the experience, knowledge, and tools to produce solid and thorough business plans that will help you achieve your financial goals.
Visa Business Plans is led by Marco Scanu, a certified coach from the University of Miami with a globally-based practice coaching Fortune 1000 company executives, entrepreneurs, as well as professionals in 4 different continents. Mr. Scanu advises clients on turnaround strategies and crisis management.
Mr. Scanu received a bachelor’s degree in Business Administration (Cum Laude) from the University of Florida and an MBA in Management from Bocconi University in Milan, Italy. Mr. Scanu was also a Visiting Scholar at Michigan State University under the prestigious H. Humphrey Fellowship (Fulbright program) with a focus on Entrepreneurship, Venture Capital, and high-growth enterprises.
At present, Mr. Scanu is the managing partner and CEO at Visa Business Plans, a Miami-based boutique consulting firm providing attorneys and investors with business planning services in the areas of U.S. and Canadian immigration and SBA loans.