The Importance of Women-Owned Business Certification

“We rise by lifting others.” Niki Jones Agency, Inc. is proud to continue being a shining example of female entrepreneurship while being a voice for fellow women. Last month, we discussed the need for more women in the creative industry. Today, we want to highlight the opportunities for innovation, diversity, and growth that come with certification as a women-owned business enterprise.

Women entrepreneurship and economic growth are on the rise. In the past 5 years, the number of women-owned businesses grew by 21%, compared to an only 9% increase throughout the broader business community. Many markets are recognizing the need for a woman’s touch and have begun seeking out women-owned companies.

We encourage all women-owned businesses to apply for certification as a women-owned business enterprise (WBE). This is one of the keys to connecting with fellow woman leaders as well as corporations looking to diversify who they conduct business with.

WBE certification can be obtained by applying to your state’s business development programs. Here are a few of the benefits associated with being a certified WBE:

Increased Visibility.

The WBE seal on your marketing materials can help you stand out when securing contracts. WBE certification bolsters your company’s reputation by demonstrating that you’re a viable women-owned business.

Promote Diversity.

Diversity is more than just a talking point. Diversity supports innovation, creative problem-solving, and the ability to affect positive change in multiple communities. With WBE certification, you become a champion of supplier diversity to corporations seeking to conduct operations with women-owned businesses.

Partnership Opportunities.

Upon certification and approval, WBE certification gives you the chance to seek and partner with fellow WBEs in joint ventures.

WOSB Federal Contracting Program.

To help level the playing field for women-owned small business, the government limits competition for certain contracts to businesses participating in the WOSB Federal Contracting Program. These contracts are typically in industries where women have low representation.

The Small Business Administration also offers certification as a Women-owned Small Business (WOSB) or Economically Disadvantaged Women-Owned Small Business (EDWOSB). Here are some benefits of WOSB certification:

A Foot in the Door.

The United States government has set a goal of awarding a percentage of its contract funds to smaller women-owned businesses. This leads to agencies setting aside government contracts for women or minority owned businesses to meet the quota.

Tax Incentives.

Many state and federal governments offer grants, loans, and various incentives directly to women and minority owned corporations. State and federal agencies also offer tax credit and capital gains tax waivers to companies interested in working with women business owners.

Niki Jones Agency, Inc. takes pride in having been designated as both a New York-certified WBE and a WOSB while championing for fellow women-owned businesses. To view New York’s eligibility criteria for WBE certification, please click here. To review the requirements for WOSB/EDWOSB, click here.

Our emphasis on collaboration, diversity, and inclusion has allowed Niki Jones Agency to exceed client expectations since our founding in 1999. To learn more about the services our agency provides, contact us at 845-856-1266 or click here.

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