On May 1, M R Products, trade name Mr. Chain was granted the Women-Owned Small Business (WOSB) certification from the Small Business Administration (SBA). In addition, Mr. Chain is a certified HubZone, and a certified Woman Business Enterprise (WBE). These certifications are instrumental in "expanding federal contracting opportunities for women-owned small businesses." (SBA.gov)
How It Works
"The Women-Owned Small Business (WOSB) Federal Contract program authorizes contracting officers to set aside certain federal contracts for eligible Women-owned small businesses (WOSBs). To be eligible, 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 SBA’s size standards for that industry." (SBA.gov)
Why It's Important
According to Center for Women & Enterprise (CWE), "Women business owners face unique hurdles, especially in procuring corporate and government contracts, areas in which women-owned businesses have historically been underrepresented." With the implementation of certification programs like WOSB, qualifying organizations receive a wealth of benefits including access to valuable networking opportunities, recognition and credibility, and supportive resources.