Mid-Year Business Assessment & SBA Certification Processes

Mid-Year Business Assessment & SBA Certification Processes

The year is halfway over! It’s time to think about ways you can reflect, assess and finish the remainder of the year prepared and strong, including a new SBA certification process for small businesses.

The certification process for Women-Owned Small Businesses (WOSBs) and Economically Disadvantaged WOSBs (EDWOSBs) will begin to change as SBA implements Congress’ changes to the Women-Owned Small Business Federal Contracting Program (WOSB Federal Contracting Program), as put forth in the 2015 National Defense Authorization Act (NDAA).

Why is this important? 

These new regulations make it easier for qualified small businesses to participate in the WOSB Federal Contracting Program by improving your customer experience. At the same time, the SBA is strengthening oversight and maintaining the integrity of the certification process.

Once the new WOSB Federal Contracting Program, here are a few regulations that will go into effect:

  • SBA will provide a new, free online certification process for WOSBs and EDWOSBs.
  • SBA will allow participation from firms certified by the U.S. Department of Veterans Affairs Center of Verification and Evaluations, provided they meet all eligibility requirements.
  • SBA will allow continued participation from businesses that utilize approved ThirdParty Certifiers (TPC) to obtain WOSB or EDWOSB certification.
  • SBA will eliminate the current self certification option from certify.sba.gov, effective October 15, 2020.

Maryland Women’s Business Center will provide regular updates on this as it launches. Firms also can contact their local SBA regional and district office or Women’s Business Center with questions.

In addition, there will be WOSB Federal Contracting Program certification timeline changes.

The timeline for implementation of changes to SBA’s WOSB Federal Contracting Program has been moved to accommodate those affected by the current pandemic.           

Below are important timelines for firms to keep in mind:

  • The current self certification process will remain available for firms until October 15, 2020, in certify.sba.gov.
  • As of July 15, 2020, firms can begin submitting applications under the new certification process for initial processing.
  • On October 15, 2020, SBA will begin issuing decisions on certification.

Why is this important? 

The new WOSB Federal Contracting Program regulations will make it easier and more efficient for contracting officers to set aside contracts for, and make awards to, firms certified as WOSBs and EDWOSBs.

The new WOSB Federal Contracting Program regulations were published in the Federal Register in May 2020. These regulations detail changes to the certification process.

Please review SBA’s latest FAQs and certification options table for more information about the certification changes. To stay up-to-date with changes to the WOSB Federal Contracting Program, please visit sba.gov/wosbready. If you have any questions on how to prepare for mid-year tax reviews, reach out to our business counselors today!

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