Michigan Business Beat | Lindsey Mead, Foster Swift, Women-Owned Business Certifications

Chris Holman welcomes back Lindsey M. Mead, Associate, Foster Swift Collins & Smith PC Attorneys Lansing with 5 offices across Michigan. (1) What is the WBENC WBE certification? There are a lot of acronyms here, but WBENC stands for the Women’s Business Enterprise National Council. WBENC offers a women’s business enterprise or WBE certification. Through the WBENC, WBE-certified businesses are offered the opportunity to work with diverse suppliers and purchasing executives with hundreds of United States corporations that accept WBENC certification. The WBENC connects certified women businessowners to their community through networking events and mentoring programs, as well. The WBENC encourages all certified women-owned businesses to utilize their authorized logo and seal after receiving WBE certification so these businesses can showcase its commitment to women ownership and leadership in an easily identifiable way. (2) What is a WOSB or EDWOSB certification? The United States Small Business Administration has created two contracting programs – the women-owned small business or WOSB program and the economically disadvantaged WOSB program or EDWOSB program. To participate in either, you must qualify as a small business under the SBA’s size requirements and receive a WOSB or EDWOSB certification from the SBA. The intention when creating these programs was to level the playing field for women business owners in predominately male-dominated industries. The SBA limits competition for certain federal government contracts to certified WOSBs or EDWOSBs only. However, the SBA maintains a list of eligible trades and industries that can qualify for either program – they are not available certifications to all women-owned businesses. (3) What are the typical eligibility criteria you see for these types of federal certifications? Though the eligibility criteria differs through each individualized program, these certifications are looking for evidence that your business is at least 51% owned, controlled, operated, and managed by a woman or multiple women. To prevent situations where a company obtains WBENC or SBA certification simply by assigning ownership shares to a woman while not allowing her to actively lead or manage the business, both organizations require documentation proving that the woman owner – or multiple women owners – are directly in control of the daily operations of the business and have invested capital in the business. (4) What types of documents could interested women-owned businesses begin to compile if they were interested in obtaining either WBENC or SBA certifications? Again, the specific document lists vary depending on the actual certification you are interested in, though the WBENC and SBA have quite a bit of overlap in their requests. Examples of the documents you may be requested to provide to complete a certification application through either WBENC or SBA include evidence of the history of your business; documentation or professional business licenses; evidence of ownership and management details related to the business; proof of U.S. citizenship for the women owners; financial statements and related data; personnel information; and business structure and governance data, such as a business’ state-specific organizing documents. (5) How can Foster Swift help me and my business apply for these types of certifications? Through either the WBENC or SBA, both organizations permit applicants of their certification programs to delegate attorneys to assist with compiling the necessary information for their certification applications and submitted that application on their behalf. » Visit MBN website: www.michiganbusinessnetwork.com/ » Subscribe to MBN’s YouTube: www.youtube.com/@MichiganbusinessnetworkMBN » Like MBN: www.facebook.com/mibiznetwork » Follow MBN: twitter.com/MIBizNetwork/ » MBN Instagram: www.instagram.com/mibiznetwork/