Ask The Money Coach

By Lynnette Khalfani-Cox, The Money Coach

A Woman-owned Business Enterprise (WBE) is a business that is at least 51% owned, operated and controlled by a woman or women who are U.S. citizens or legal Resident Aliens.

The primary place to get certified as a woman-owned business is the Women’s Business Enterprise National Council.

The WBENC is the country’s leading third-party certifier of women’s business enterprises, meaning it is the largest agency that goes through the process of ensuring that a business is truly owned, managed and controlled by a woman or women. A business does not have to meet size or time requirements to be certified by WBENC.

National vs State Certification
Each state in the country also offers its own state certification of women-owned businesses. However, in most instances, a state certification is only good for doing business with that state’s government agencies. A national certification, from an organization such as the National Minority Supplier Development Council or the Women’s Business Enterprise National Council allows minority and women business owners to get corporate/private business in and outside their state, as well as be considered for many federal and local government business opportunities.

Are You Ready for Certification?
There are many benefits to being certified as a women-owned business, but even if you qualify, is your business a good candidate for the certification.  To help you make that determination, take this quiz at wbenc.org.

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