Skip to main content
  • Claims Center
  • Contact Us
  • Español
  • Brokers & Agents
Hiscox Insurance
Menu Toggle
  • Home
  • Small Business Insurance Toggle Menu Toggle Menu
  • Why Hiscox Toggle Menu Toggle Menu
  • Resources Toggle Menu Toggle Menu
  • Policy Management Toggle Menu Toggle Menu
  • Claims Center
  • Contact Us
  • Español
  • Brokers & Agents
  • About
  • Get a Quote Get a Quote
  • About
  • Get a Quote Get a Quote
  • Blog Home
    Start Your Business
    Grow Your Business
    Protect Your Business
    Celebrate Courage
    Search

    Twenty-Four Seven

    Sign up to get the latest small business news delivered right to your inbox.
    Close Close
    Grow Your Business
    Woman's hand on computer mouse. Red finger nails. Woman owned small business (WOSB). How to certify as a woman-owned small business

    How to get certified as a woman-owned small business

    Finances | Management
    By: Hiscox Blog

    Share Image

    Embed Image

    Copy

    Share Article:

    Did you know that 5% of all federal contracting dollars are set aside for women-owned small businesses? It's made possible through the SBA's Women-Owned Small Business Federal Contracting Program to provide women business owners, including those with economical disadvantages, an opportunity to win government contracts. 

    Related: Infographic on the rise of women entrepreneurs

    The program represents an effort to even the playing field because, although women-owned small businesses employ millions of people in the US and contribute greatly to our economy, they do not receive nearly as many federal contracts as their male counterparts. In 2020, the SBA met its goal for the second time since the creation of the program of awarding at least 5% of all federal contracts to women-owned businesses.

    What is the WOSB and EDWOSB certification?

    Through the Small Business Administration (SBA), businesses can get certified as a woman-owned small business (WOSB) or economically disadvantaged woman-owned small business (EDWOSB). By doing so, your business will be able to bid on government contracts unavailable to businesses without the certification.  

    Related: 15 Small business grants all women entrepreneurs should apply for

    Who qualifies?

    In order for a business to qualify as a WOSB, it must be at least 51% owned and operated by a woman or women. The bulk of day-to-day operations and decision making must be overseen by a woman. The woman or group of women must be US citizens and the business must have no more than a certain amount of employees to qualify as a small business. The number of employees you can have depends largely on your industry. You can use the SBA’s Size Standards Tool to find out more.

    If you want to apply for the EDWOSB, the qualifications are a little more stringent. In additional to meeting all of the WOSB requirements, the women who own an EDWOSB must: 

    • Have a net worth not exceeding $750k each
    • Have no more than a $350k adjusted gross income averaged over the last 3 years each 
    • Personal assets of no more than $6 million each. 

    For more information, visit the SBA website.

    How can I apply?

    There are two ways you can go about this. You can apply on your own behalf on the online platform, or you can use a third party to apply for certification. If you choose to go the third-party route, make sure that you use one of the four SBA-approved vendors, which are:

    El Paso Hispanic Chamber of Commerce
    National Women Business Owners Corporation
    U.S. Women’s Chamber of Commerce
    Women’s Business Enterprise National Council

    In many cases, business owners choose to use the online system since it is free and relatively easy to use. (The above organizations may charge a fee.) Check out the online application here, which was updated on July 15, 2020. If you’re familiar with the old system, you can still use that until October 15, 2020.

    Already a certified WOSB or EDWOSB?

    If you are already a certified WOSB or EDWOSB, you may need to get recertified through the new SBA certification process. In this case, you will need to create an account in the system and upload all of your information and documentation in order to maintain your WOSB or EDWOSB certification. 

    If you’re already in a contract, your certification will be good through the life of the contract in most cases, but check out these guidelines for further information. 

    Having a WOSB or EDWOSB certification can open a lot of doors for your small business. It’s a great option for woman entrepreneurs to expand their businesses and tap into new opportunities. 

    Related: Hiscox customer supporting maritime women featured on ABC

    For more information on growing your business, check out the Grow Your Business page. 


    Protect Your Business

    Protect the business you’ve worked so hard to build. Get a fast, free quote and your business could be covered today.

    Get a Quote
    Get a Quote
    Subscribe to our newsletter

    Related Articles

    4 Min Read
    Team building, boosting morale while remote working

    5 simple ways to boost morale of remote workers

    Management | Small business inspiration

    Whether working from home is a permanent shift in your workforce strategy or not, here are some tips on keeping team morale up and infusing your company culture into everyday virtual interactions.

    Read More

    3 Min Read
    hybrid workplace, remote, telecommuting, and in-office working

    New workspace ideas to offer businesses increased productivity

    Management | Small business inspiration

    As we return to in-person work, learn how to create a workspace that delivers the goals for the company while keeping employees productive and motivated.

    Read More

    3 Min Read
    how to make collateral loan work for your small business

    How to make a collateral loan work for your business

    Finances | Management

    If you’re considering taking out a loan to start or expand your business, having collateral to back it up may result in better terms. Learn more. 

    Read More


    We’re here to help.
    We provide tailored insurance for the specific risks you face, so you can take the right risks to grow your business.
    Get a Quote
    Get a Quote

    Footer menu 1

    • What We Cover
      • Business Insurance
      • General Liability Insurance
      • Professional Liability Insurance
      • Errors and Omissions
      • Cyber Security Insurance
      • Workers Compensation
      • Other Coverage
    • Who We Cover
      • Small Business Owners
      • LLC
      • Sole Proprietors
      • Entrepreneurs
      • Side Hustle
      • Contractors
      • Home Businesses
    • For Our Customers
      • Refer a Friend Program
      • Covid-19 Response
      • Claims Center
    • For Business Owners
      • Save with our Partners
    • About Hiscox
      • About Us
      • Careers
      • Contact Us
      • Hiscox Corporate
      • Investors
      • Foundation
      • Newsroom
      • We Stand Together
      • Affiliate Partner Program

    Footer menu 2

    • Accessibility
    • Site Map
    • Privacy Policy
    • Terms of Use
    • Legal Notices
    • Español

    Feefo Reviews: Hiscox rated 4.8/5 with 2,032 reviews between January 31, 2020 - January 21, 2021

    © 2022 Hiscox Inc. All rights reserved. Underwritten by Hiscox Insurance Company Inc., 104 South Michigan Avenue, Suite 600, Chicago, IL 60603. As of December 31, 2021, HICI had admitted assets of $1,250,758,353 and policyholders surplus of $332,792,666. Total liabilities were $917,965,687 (inclusive of $433,752,764 of loss reserves) and paid-up capital stock was $4,242,000.

    icon-facebook
    icon-youtube
    icon-twitter
    icon-linkedin