|
8(m) Program
WOSB – Woman Owned Small Business
EDWOSB – Economically Disadvantaged Woman Owned Small Business
The SBA made a determination that there were eighty-three 4-digit North American
Industries where women were significantly underrepresented. Therefore to increase
female participation in these industries the 8(m) program was developed.
Click here for the 83 NAICS Codes:
Advantages of WOSB and EDWOSB Program:
Set asides can be awarded up to $5 million for manufacturing contracts and $3 million
in the case of other contracts, if the contracting officer has a reasonable expectation
that at least two offers from WOSB/EDWOSB firms will be submitted and the contracting
officer believes the price to be fair and reasonable.
Not EDWOSB Program Participants can submit offers on both WOSB and EDWOSB offers.
Eligibility Requirements:
WOSB
1. Company must be a small business according to the SBA based
upon its NAICS classification
2. 51% of the business must be unconditionally and directly owned
by one or more women who are US Citizens.
3. A woman must hold the highest position in the firm, be responsible
for key management decisions, work at the business full-time during normal working
hours, and be responsible for the day-to-day operations of the firm.
EDWOSB – In addition to meeting all the requirements of a WOSB
1. 51% of the firm must be owned and controlled by women deemed
to be economically disadvantaged.
2. Woman net worth is under $750,000 (with some exclusions)
3. Average of last three years income is under $350,000.
4. Fair market value of all her assets is under $6 million dollars.
|