The Importance and Benefits of Being a Certified Woman-Owned Business
In today’s competitive business landscape, diversity and inclusion are not just buzzwords but essential components of fostering innovation and economic growth. One significant avenue for promoting diversity is through certifications that recognize women-owned businesses (WBEs). Here, we delve into the importance and benefits of becoming certified as a woman-owned business, along with key agencies and resources that facilitate this certification process.
Importance of Certification
Certification as a woman-owned business opens doors to numerous opportunities in both the public and private sectors. It serves as a testament to a company’s commitment to diversity and can significantly enhance its credibility and marketability. Many corporations and government agencies have diversity procurement goals and actively seek to partner with certified WBEs, thereby increasing their supplier diversity and supporting women entrepreneurs.
Benefits of Certification
- Access to Contracting Opportunities: Certification enhances visibility and eligibility for government contracts and corporate procurement programs that prioritize diversity. Agencies like the Women’s Business Enterprise National Council (WBENC) and their partners facilitate connections between certified WBEs and corporations seeking diverse suppliers.
- Business Development Resources: Certified WBEs gain access to educational workshops, networking events, and mentorship programs tailored to women entrepreneurs. These resources help foster business growth, expand industry knowledge, and build valuable relationships within the business community.
- Competitive Advantage: Being certified as a woman-owned business differentiates your company from competitors and can influence purchasing decisions among clients and consumers who prioritize diversity and social responsibility.
- Supplier Diversity Initiatives: Many large corporations and government entities have supplier diversity programs that require a certain percentage of their procurement to come from diverse suppliers, including WBEs. Certification increases your chances of participating in these initiatives and winning contracts.
- Community and Support: Certification connects you to a community of women entrepreneurs, advocates, and resources dedicated to supporting WBEs. This network provides opportunities for collaboration, partnerships, and shared experiences that contribute to personal and professional growth.
Certification Agencies and Resources
- Women’s Business Enterprise National Council (WBENC): WBENC is the largest certifier of women-owned businesses in the U.S., offering certification and resources to support WBEs in accessing opportunities with corporate and government partners.
- National Women Business Owners Corporation (NWBOC): NWBOC provides certification to women-owned and controlled businesses, focusing on promoting diversity and facilitating business opportunities.
- U.S. Small Business Administration (SBA): The SBA offers resources and guidance on certifications, including the Women-Owned Small Business (WOSB) certification program, which enables WBEs to compete for federal contracts set aside for women-owned businesses.
- Minority Supplier Development Councils (MSDCs): Regional MSDCs certify minority-owned businesses, including women-owned businesses, and facilitate connections with corporate members seeking diverse suppliers.
Certification as a woman-owned business is not only a mark of distinction but also a strategic business decision that can lead to increased opportunities, growth, and impact. By leveraging the benefits and resources offered by certification agencies, women entrepreneurs can position their businesses for success in today’s diverse marketplace.
