Leveraging Socio-Economic Set-Asides for Your WOSB

Socio-economic set-asides can be a game-changer for women-owned small businesses (WOSBs), providing a unique advantage in the competitive field of government contracting. Understanding how to leverage these set-asides can significantly enhance your business prospects. 

What the heck are 'Set-Asides'? 

Socio-economic set-asides are designed to promote the participation of businesses owned by socially and economically disadvantaged individuals. For WOSBs, there are specific set-asides such as Women-Owned Small Business (WOSB) and Economically Disadvantaged Women-Owned Small Business (EDWOSB) set-asides. These programs aim to level the playing field and provide equal opportunities for women entrepreneurs. Additionally, consider exploring other set-asides like HUBZone, 8(a), and SDVOSB, which might also be applicable to your business. 

When preparing proposals, clearly state your WOSB status. Highlight your unique capabilities, past performance, and the benefits of working with your business. Demonstrating your value proposition and how your business meets the needs of the government agency can make your proposal stand out. Remember, your certification is a significant asset—make sure it’s prominently featured in your proposals and marketing materials. 

How to identifying the opportunities right for your business: 

Finding the right opportunities is key to leveraging set-asides effectively. Use SAM.gov to filter your search and include set-aside opportunities. Regularly monitor agency procurement forecasts, which highlight upcoming opportunities tailored to specific certifications. This proactive approach will keep you informed about potential contracts and help you prepare in advance. 

Building relationships is key!! 

Establishing relationships with contracting officers and agency representatives who oversee WOSB set-asides can provide valuable insights and opportunities. Networking events, industry day conferences, and online platforms are great places to connect with these individuals. Many agencies post upcoming industry days on SAM but I would also recommend signing up for the agency newsletter through their small business office. 

Additionally, consider forming joint ventures or teaming agreements with other certified businesses to enhance your capabilities and expand your reach. By effectively leveraging socio-economic set-asides, you can increase your chances of winning government contracts and growing your business. Understanding these programs and strategically positioning your WOSB can unlock numerous opportunities for success.