Economically Disadvantaged Women-Owned Small Business
The Economically Disadvantaged Women-Owned Small Business (EDWOSB) self-certification is quite similar to the Women-Owned Small Business (WOSB) program, with a few key differences.
The Economically Disadvantaged Women-Owned Small Business (EDWOSB) self-certification is quite similar to the Women-Owned Small Business (WOSB) program, with a few key differences.
Certified Economically Disadvantaged Women-Owned Small Business companies get:
Digging deeper into what it means to be economically disadvantaged, to qualify as an Economically Disadvantaged Women-Owned Small Business, the owner needs to be a woman with an individual net worth under $850,000, an adjusted gross income (calculated by averaging the preceding three years) not exceeding $400,000 per year, and all of her assets must have a combined fair market value below $6.5 million.
Wondering if you qualify as an Economically Disadvantaged Woman-Owned Small Business and if EDWOSB self-certification is the right fit for your company? Our experts are ready to assist. CLICK HERE to get started!
EDWOSB Registration & Certification
An EDWOSB (Economically Disadvantaged Women-Owned Small Business) certification is a designation provided by the Small Business Administration (SBA) that allows eligible businesses to compete for federal contracts specifically set aside for women-owned small businesses.
To qualify for EDWOSB certification, your business must meet the following requirements:
The Federal Contracting Center can assist in completing your SAM registration or help with the SAM renewal process for companies needing to update their registration. Let the Federal Contracting Center help you navigate the requirements and ensure your business is ready for federal contracting opportunities!
As of July 2023, to qualify as economically disadvantaged, the woman owner(s) must have:
Depending on the complexity of the business structure and the completeness of the application, the process for EDWOSB certification can take anywhere from 30 to 90 days after the complete application is submitted. The contract specialists at the Federal Contracting Center can assist in ensuring that the EDWOSB application is submitted with all required documentation to reduce any unnecessary delays in processing.
Yes, EDWOSB certification provides several benefits, including:
EDWOSB certification is valid for three years, after which the business must undergo a recertification process to maintain the designation. During this time, it’s crucial for the certified business to continue meeting all eligibility requirements and update any changes in ownership or operations to stay compliant with SBA regulations. The Federal Contracting Center and its Contract Specialists offer guidance and resources to assist in the renewal process. They can help navigate the requirements and ensure that all necessary steps are completed in a timely manner, making the renewal process smoother and more efficient.
Other certifications available for small businesses include:
The Federal Contracting Center can assist you in determining which certifications you qualify for based on your business’s specific needs, qualifications, and goals. They provide personalized support to help you understand the various certification options available, such as minority-owned, woman-owned, and veteran-owned business certifications. Additionally, FCC will guide you through the entire application process, offering valuable insights and resources to ensure that you complete your applications accurately and efficiently, ultimately increasing your chances of success in securing federal contracts.
To qualify for EDWOSB (Economically Disadvantaged Women-Owned Small Business) certification, the business must be at least 51% owned and controlled by one or more women who are U.S. citizens. This means that the majority ownership and decision-making authority must rest with these women, ensuring that they have a significant role in the management and daily operations of the business. This certification aims to promote and support the growth of US citizen and women-owned businesses in the US economy.
Absolutely! Your business can subcontract while being EDWOSB-certified! This can be a strategic way to participate in larger contracts and build capacity without taking on the full scope of the contract on your own. However, it’s important to note that the EDWOSB-certified contractor must perform a meaningful portion of the work and be responsible for any decisions made on the contract. Additionally, subcontracting cannot exceed 50% of the total contract value. The Federal Contracting Center can help you understand the rules and regulations around subcontracting as an EDWOSB-certified company to ensure compliance and maximize your business’s potential for success. Reach out to us today to see how we can assist you with subcontracting as an EDWOSB-certified business today.