Found a Women-Owned Business
Stand up a certified WOSB or cooperative built to win contracts and create local jobs.
Why this matters
Starting a women-owned business is about more than just creating a company; it's about building a foundation for financial independence, stimulating your local economy, and helping close the wealth gap. When you establish a certified Women-Owned Small Business (WOSB) or a cooperative, you're not just creating a job for yourself – you're creating jobs for others in your community. These businesses often qualify for specific contracts set aside by government agencies, giving you a competitive edge. This pathway helps you navigate the steps to not only launch your business but also to position it to win these valuable contracts.
Who this is for
This pathway is for you if you are:
- A woman with a business idea, product, or service.
- Ready to formally establish your business and make it official.
- Interested in gaining a competitive advantage through certifications.
- Committed to creating local employment opportunities.
- Looking for a path to government contracts or larger procurement deals.
- Open to learning about business finance and strategic partnerships.
You don’t need to have a fully developed business plan, but having a clear idea of what your business will do is a great start.
What 90 days looks like
This is a general timeline to get you started. Some steps might take longer or be done in parallel.
Week 1-2: Idea to Foundation
- Solidify your business concept and target market.
- Choose a business name and check its availability.
- Research your state’s business formation requirements (e.g., LLC, Corporation, Cooperative).
- Register your business with your state.
- Get an Employer Identification Number (EIN) from the IRS.
- Open a dedicated business bank account.
Week 3-4: Legal & Permits
- Identify necessary licenses and permits for your industry and location (city, county, state).
- Understand basic business insurance needs (liability, property, etc.).
Week 5-6: Certification Prep
- Gather all required documents for WOSB certification (ownership proof, management roles, financial statements, etc.). This is a critical step for winning contracts.
- Review the specific requirements for the federal WOSB program.
- See the "Register WOSB / 8(a)" playbook for detailed guidance.
Week 7-8: Financing Foundations
- Develop a preliminary business budget and financial projections.
- Research funding options, including traditional loans, microloans, and Community Development Financial Institutions (CDFIs).
- See the "Partner with a CDFI lender" playbook for more information.
Week 9-10: Marketing & Operations Start
- Create a basic website or online presence.
- Develop a simple marketing plan to reach your first customers.
- Outline your core operational processes (how you deliver your product/service).
Week 11-12: Contract Readiness & Growth
- Understand the basics of government contracting and set-asides.
- Register your business in federal contracting databases (e.g., SAM.gov).
- Begin exploring specific set-aside contract opportunities.
- See the "Bid on set-aside contracts" playbook to jumpstart this effort.
How to begin today
- Define Your "What": Write down a clear, one-sentence description of what your business will do and who it will serve.
- Check Your Name: Do a quick online search to see if your desired business name is already in use or registered as a domain.
- Contact Your Local Small Business Resource: Reach out to your local Small Business Development Center (SBDC) or SCORE chapter. They offer free guidance and mentorship.
- Open an Email Account: Create a professional email address for your business; don't use a personal one.
Common pitfalls
- Skipping the formal registration steps: Not registering your business or obtaining necessary licenses can lead to legal issues and fines.
- Mixing personal and business finances: This creates headaches for accounting, taxes, and proving business legitimacy.
- Ignoring certifications: WOSB certification takes time; don't wait until you need a contract to start the process.
- Underestimating startup costs: Have a realistic budget and a plan for how you’ll fund the initial stages.
- Trying to do everything alone: Utilize free resources like SBDCs, SCORE, and other local business support organizations.
- Not understanding the contracting landscape: Bidding on contracts has specific rules. Don't jump in without learning the basics.
Action playbooks
Three concrete moves under this pathway. Each one has its own step-by-step guide.
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