Dynamik, Inc. proudly holds status as a Certified Woman’s Business Enterprise.
There are two forms of certifications available to women-owned businesses:
Women Owned Small Business (WOSB) Certification is certification for women-owned businesses to be eligible for or work on federal contracts
- To be eligible for WOSB certification, a firm must be at least 51% owned and controlled by one or more women, and primarily managed by one or more women.
- The women must be U.S. citizens.
- The firm must be “small” in its primary industry in accordance with the Small Business Administration’s size standards for that industry.
- In order for a WOSB to be deemed “economically disadvantaged,” its owners must demonstrate economic disadvantage in accordance with the requirements set forth in the final rule which qualifies you for EDWOSB certification.
Women’s Business Enterprise (WBE) Certification is for women-owned businesses to be eligible for and work on corporate opportunities that are also recognized by state and local entities.
- To be eligible for WBE certification, a woman(en) must own, manage, and control at least 51.0% of the business.
- The woman owner must be a U.S. citizen or legal resident.
- The woman owner must serve as President or CEO (if both positions exist).
- The woman owner must have ownership and officer position for at least six months and the woman owner must be active in daily management.
Why does certification matter?
- WOSB and WBE certification certifies that a woman (or women) has majority (at least 51%) ownership and control of a business entity.
- Women business owners say that certification can be important because it supports their business development strategy by giving them access to new markets and contracts.
- Certification that a business is owned by a woman is required if you wish to participate in programs which require utilization and tracking of woman-owned businesses, such as corporate supplier diversity programs or federal procurement programs.
- Having WBE Certification is the only way that purchasing agents have confidence that a business representing itself as woman-owned is in fact woman-owned. Most publicly held corporations, as well as larger private corporations, track and/or have programs for doing business with women business owners.
- Also, most local, state, and federal government purchasing agencies track and have programs for doing business with women-owned vendor companies. They, too, rely on WOSB Certification.