Earning Your Women Business Enterprise (WBE) Certification
I’m in the process of completing my application for the Historically Underutilized Business (HUB) status for the State of Ohio, and I can say that earning your certification is not for everyone. This certification will give my business a boost when I bid on state government contracts, and even some local corporate contracts. The applications are usually very cumbersome with paperwork from your tax returns, bank statements, and all corporate records requested.
The state application for HUB status was free for me (except for legal and accounting fees), so the price is right. Check with your state office for Minority Business Development (start with the main Small Business Administration office if you cannot find one listed in the phone book).
Besides being certified by your state government, you should also check out a national certification. One is presented by the Women’s Business Enterprise National Council (WBENC) and is called the WBE or Women’s Business Enterprise certification www.wbenc.org for an online application process. This application asks for all records on your business and proof of your 51% or greater ownership and control. Once you have everything together for one application, just make copies, and the others should be much easier. This application charges $300 for consideration. Items requested include: financial statements prepared by an accountant, copies of all equipment rental and purchase agreements, copies of all real estate leases, copy of bank signature authorization card, and payroll for the prior month (including compensation for owners and officers).