By Rieva Lesonsky
I recently blogged on Anita Campbell’s Small Business Trends site about the recent finalization of the Women-Owned Small Business contracting rule. Now, the Small Business Administration has published a compliance guide that explains “in plain English” the requirements to participate in the new WOSB program, which requires federal government agencies to set aside a percentage of contracts for women-owned small businesses.
The 60-page guide explains the contracting, certification and eligibility requirements for the program, which goes into effect next February. In general, if one or more women own at least 51 percent of a business that is considered small according to SBA size standards, that company can participate in the program. In addition, the company’s long-term and day-to-day business operations must be under the direction of a woman.