Tag: wosb

To help women have a level playing field with other business owners, the government created the woman-owned small business (WOSB) Federal Contracting Program. Check this article to get our preparation checklist and to learn more!

WOSB ELIGIBILITY

In order to be part of this program, you should be a small business with at least 51 percent owned by U.S. women citizens, and have women manage its day-to-day operation.

Check this link to learn more and see if you’re eligible.

WOSB PREPARATION CHECKLIST

1. Active SAM Registration 

Qualifying individuals include one or more women claiming 51% ownership should have an active registration in the System for Award Management (SAM) database.

Note: The firm’s DUNS number, EIN, and MPIN must exactly match their record in SAM.

2. Proof of U.S. Citizenship 

These could be a state-issued birth certificate, naturalization paper, or unexpired passport.

Note:  If your name differs from your submitted citizenship document, you may have to provide a proof of name change. These could be any of these: a state filed documents-official name change, marriage license, unexpired passport, or unexpired military ID with front and back copy.

3. Resume

Tailor your resume for your government business. With this, list your current ownership roles or duties with prior work experience. 

Note: This might also need a letter of explanation or technical licenses.

4. Existing Qualified Certification

If you are part of other small business programs, you need to provide the following:

• 8(a) Program Participant – Most recent annual review letter. However, firms on their first program year may submit their initial approval letter.

• TPC-Certified – Certificate from one of the four SBA approved third party certifying organizations.

• CVE-Certified – certification letter from the Department of Veterans Affairs’ Center for Verification and Evaluation.

5. Ownership Documents 

Choose one according to your business structure:

• Corporation

1. Articles of Incorporation
2. Copies of stock certificates (front and back)
3. Stock Ledger
4. Corporate Bylaws and any amendments
5. DBA or Trade Name (if applicable)
6. Business Documents noting the election of officers and key employees (most recent meeting minutes, joint venture agreements, or buy/sale agreements)

•  Limited Liability Company (LLC)

1. Operating Agreement and any amendments
2. Articles of Organization and any amendments
3. DBA or Trade Name (if applicable)
4. Business Documents (joint venture agreements or buy/sale agreements, if applicable)

• Partnership

1. Partnership Agreement and any amendments
2. DBA or Trade Name (if applicable)

• Sole Proprietor

1. DBA (Doing Business As) or Trade Name Certificate

ECONOMICALLY DISADVANTAGED WOSB PREPARATION CHECKLIST

In addition to all the things needed as a WOSB, you also need to provide your financial data showing your personal and business financial information, if you want to be an economically disadvantaged WOSB. 

These include the following:

• A completed and signed IRS Form 4506-T, Request for Tax Transcript
• Three most recent personal income tax returns (IRS Form 1040) including all schedules
• Three years of business tax returns and all schedules, dependent upon on the number of years in business
• Three most recent W-2’s, 1099s, or a letter of explanation of the source of income reflected on their personal tax return equal to the total wages for each specific tax year
• An IRS Verification of Nonfiling Letter (VNF) for any year in which taxes have not been filed.
• Detailed information regarding the value of all assets (including cash on hand and in banks, accounts and notes receivable, retirement accounts, stocks, bonds, real estate, personal property, life insurance, and any other assets), liabilities (such as loans, mortgages, tax debts, and any other liabilities), and income (including salary, investment income, real estate income, and any other income).

Note: SBA may consider a spouse’s financial situation in determining whether qualifying individual(s) are economically disadvantaged where the spouse has a role in the business (e.g. an officer, employee, or director) or has lent money to, provided credit or financial support to, or guaranteed a loan of the business.

RESOURCES

To expedite the process and to take advantage of the 23% small business set-aside goal of the government, it is best to prepare the files needed above. 

However, consider that the self-certification process has already ended last October 15, 2020. With this, you need to particularly register to the SBA’s new certification page or through the four organizations approved by the SBA. 

If you also want to learn more about the checklist above, then download this document below. You can also check the links for other resources below. 

With this in mind, let us help you achieve your goal in the federal marketplace. Join us here at GovCon Giants or check the new GovCon Edu where you learn everything about government contracting!

https://govcongiants1.wpengine.com/wp-content/uploads/2018/01/ED-WOSB-checklist-for-SBA-certification.pdf

https://certify.sba.gov/prepare#wosb-anc

https://www.sba.gov/federal-contracting/contracting-assistance-programs/women-owned-small-business-federal-contracting-program

https://www.sba.gov/federal-contracting/contracting-assistance-programs/women-owned-small-business-federal-contracting-program