Federal Government Wants To Purchase Products and Services
June 19, 2017
The WOSB Federal Contract Program has been in place since February 2011 with the goal of expanding the number of industries where WOSBs were able to compete for business with federal agencies. This program enables WOSBs to compete for federal contracts where women-owned small businesses are underrepresented.
To qualify as a women-owned small business, a business must meet the following requirements:
- Meet the small business size standard
- Be at least 51% unconditionally and directly controlled by women who are U.S. citizens
- Women must manage the day-to-day operations
- Women must make the long-term decisions for the business
- A woman must hold the highest officer position in the business
- This woman must work at the business full-time during normal working hours
- No minimum amount of time for the business to be operational
Personal net worth of the WOSB (assets minus liabilities) is less than $750,000, adjusted gross income average over three years is $350,000, and fair market value of all assets is $6 million or less.
The purpose of the SDVOSB is to provide procuring agencies with the authority to set acquisitions aside for exclusive competition among service-disabled veteran-owned small business concerns, as well as the authority to make sole source awards to SDVOSBs if certain conditions are met.
In order to be eligible for the SDVOSB, you and your business must meet the following criteria:
- The Service Disabled Veteran (SDV) must have a service-connected disability that has been determined by the Department of Veteran Affairs or Department of Defense
- The SDVOSB must be small under the North American Industry Classification System (NAICS) code assigned to the procurement
- The SDV must unconditionally own 51% of the SDVOSB
- The SDVOSB must control management and daily operations
- The SDV must hold the highest officer position in the SDVOSB
- The management and daily business operations of the concern must be controlled by one or more service-disabled veterans
- Service-disabled veteran means a veteran with a disability that is service-connected
- Ownership must be direct. Ownership by one or more service disabled veterans must be direct ownership
If you own a small business that is women-owned or service-disabled veteran owned and are interested in obtaining these certifications, please contact the SBDC for more information.
“Business Tips” was written by Paul Howard, Certified Senior Business Advisor of Angelo State University’s Small Business Development Center. For more information on the topic of this article or the services of the ASU · SBDC, contact him at Paul.Howard@angelo.edu.