New SBA Program for Women-Owned Small Businesses

The Women-Owned Small Business Federal Contract Program provides equal access to federal contracting opportunities for women-owned small businesses (WOSB) and economically disadvantaged women-owned small businesses (EDWOSBs). The program allows contracting officers to set aside specific federal contracts for certified WOSBs and EDWOSBs.

The WOSB Program became effective in SBA's regulations on February 4, 2011. Over the next few months, the SBA will hold a number of training and outreach events to help small businesses understand the program and its requirements, as well as provide detailed information and instructions on the SBA website. The WOSB rule in the Federal Acquisition Regulation (FAR), is now going through the final review, and is expected to be issued by April. The goal is for WOSBs and EDWOSBs to be ready to compete for contracts awarded in the fourth quarter of fiscal year 2011, which is when the largest percent of small business contracts are awarded.

To be an eligible WOSB, a company must be:

· A small business that is at least 51% percent unconditionally and directly owned and controlled by one or more women who are United States citizens.

· A woman must manage the day-to-day operations, make long-term decisions for the business, hold the highest officer position in the business and work at the business full-time during normal working hours.

To be an eligible EDWOSB, a company must:

· Meet the requirements to be a WOSB

· Meet the definition of economically disadvantaged: a personal net worth of less than $750,000 (with some exclusions), an adjusted gross yearly income averaged over the three years preceding the certification less than $350,000, and the fair market value of all assets is less than $6 million.

All recognized WOSBs and EDWOSBs must register their status in the Central Contractor Registration (CCR) and the Online Representations and Certifications Application (ORCA),as well as upload required documents to the WOSB Program Repository. CCR and ORCA are currently being updated to allow WOSBs and EDWOSBs to register and are expected to be ready in April 2011.

For more information,  read the SBA press release or visit the SBA website.