GSA and SBA Women Owned Small Business Certification
The General Services Administration (GSA) and Small Business Administration (SBA) are federal agencies which have been given the responsibility for assisting Women Owned Small Businesses (WOSB) succeed in obtaining contracts with the federal government. These agencies recognize that traditionally WOSB's have been left out or otherwise overlooked for federal government contracts simply because the WOSB was owned and operated by women. They now seek to level the playing field by setting aside a number of federal contracts specifically for WOSB's. If you own a WOSB you can take advantage of these set asides by becoming certified with the GSA and SBA and obtaining a GSA schedule contract.
To be certified as an Women Owned Small Business, the business must:
(1) Be a small business;
(2) Be at at least 51% percent unconditionally and directly owned and controlled by one or more women (the women must be U.S. citizens);
(3) Have a woman manage the business.
Management by a woman must include making the day-to-day operations and long-term business decisions. A woman must also hold the highest officer position in the business and work at the business full-time during normal working hours.
Economically Disadvantaged Women Owned Small Business
To be certified as an Economically Disadvantaged Women Owned Small Business, in addition to the above the women who own and run the business must be "economically disadvantaged" (i.e. personal net worth of less than $750,000 and an adjusted gross yearly income averaged over the three years preceding the certification less than $350,000. The fair market value of all her assets must also be less than $6 million.
For more on Women Owned Small Business see my article titled "Women Owned Business and the GSA."