Point 1: WOSB Certification as a Federal Contract Advantage

Obtaining certification as a Woman Owned Small Business (WOSB) creates significant advantages to small businesses seeking government contracts. It facilitates woman-owned businesses' acquisition of government contracts, and then helps them maintain their business relationships with federal agencies.

Point 2: Impressive 2023 WOSB Statistics

In 2023, around 11,455 WOSB firms worked with the federal government, making a combined $25.3 Billion in sales. On average, each of these firms earned roughly $2.2 Million in federal contracts. These numbers show the real value of having a WOSB Certification, proving it's a smart move for woman-owned small businesses.

Point 3: Enhancing Sales through GSA Schedule Contracts

Obtaining a GSA Schedule Contract will enable WOSB businesses to increase sales even further. Direct sales from GSA Schedules to 3,582 WOSB companies totaled $4.7 billion in 2023. That amounts to roughly $1.3 Million in sales for each company. Thus, WOSB companies can boost their government sales, and fortify their market position, by utilizing a GSA Schedule, an effective strategy.

Point 4: Leveraging WOSB Certification and GSA Schedule

There is a significant impact when a GSA Schedule is paired with a WOSB Certification. 3,582 businesses engaged in this activity in 2023, totaling $23.3 Billion in federal sales, averaging around $7 Million annually. This demonstrates how holding both certifications greatly increases a company's sales prospects as long as it satisfies the prerequisites for a GSA Schedule.

Point 5: Seven Advantages of GSA Schedule for WOSB Firms

1. Contracting Vehicle: Provides a FAR-compliant method for federal buyers to make purchases, addressing a common struggle for small businesses.
2. Market Research Visibility: Increases visibility through GSA Advantage, the preferred site for federal buyers' market research.
3. Access to GSA eBuy: Offers a specialized bulletin board for solicitation, facilitating initial sales to target agencies and subsequent opportunities.
4. Gateway to GWACs: Positions WOSB firms to enter Governmentwide Acquisition Contracts, reducing administrative burdens and demonstrating competency.
5. Subcontracting Opportunities: Expand opportunities as prime contractors using a GSA Schedule are not subject to audit, saving compliance efforts.
6. Flexibility with Products and Services: Enables quick addition of new products and services to the repertoire through GSA MAS Contract modifications.
7. Non-Schedule Items Inclusion: Permits the addition of non-schedule items for completing contracts, provided over 50% are purchased from the firm's GSA Schedule.

Combining WOSB Certification with a GSA Schedule is a smart strategy for woman-owned small businesses in federal contracting. The 2023 statistics and the advantages of the GSA Schedule clearly show that this approach not only helps in getting initial contracts, but also sets the stage for ongoing growth and success in the federal marketplace. It's strongly recommended for eligible businesses to go for both certifications, leading to a significant threefold increase in sales opportunities. If you need assistance determining your eligibility and/or examining your firm’s potential being WOSB certified and/or on GSA Schedule, I always recommend contacting an industry expert such as Advance 8a or Advance GSA. Neither charge for an initial consultation.