In the past, I've asked other Workerettes if being a certified women's business enterprise (WBE) is worthwhile. After all, it seems like there can be a great deal of cost, paperwork, and time involved.
According to an article in PINK magazine (October 2006), certification is worth it. Women are key customers, they say, and corporations need WBEs as subcontractors and suppliers in order to win big contracts. Having WBEs involved shows a company's commitment to diversity amongst their suppliers. Because of the process involved, corporations can feel assured that a certified business really is a woman-owned venture.
It may not be worth it for every business owner, however. According to their sidebar, your business should be at least 51% woman-owned and be managed on an ongoing basis by a woman or women. Additionally, it's more valuable to those who are selling B-to-B, not B-to-C. If you're targeting small accounts, it might not be cost effective, but if you are targeting multi-million dollar companies and offering national and regional service, you are more on track.
Other suggestions, such as a willingness to invest the time and effort needed to the process and being willing to share your financial information with the certifying committee, are important. Any stringent certification process will require an ability to stick to a plan, proceed with a process, and a trust that you can safely share your information with those in the position to scrutinize your company's make-up.
For more details on the process, you can check out www.PinkMagazine.com. Next month they'll be running a feature that explains how to get business once you've completed the certification process!
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