Certifications Every Small Business Enterprise should Pursue
Running a business, small or big, requires extensive planning, constant problem solving, and efficient networking to be successful. It is prudent to develop a comprehensive marketing strategy to help define and sell your brand. To help stand out from your competition, you can share your expertise and have a social media marketing strategy. However, one of the best ways to stand out is through certification.
For a small business, certifications can help you obtain specialized funding and scholarships. Moreover, certifications also allow you to compete for set-aside contracts and can be a great bonus to potential clients. These are just a few of the reasons why experts recommend that every small business should get certifications. The following are five certifications for small business in the US.
Minority Business Enterprise (MBE) Certification
If run a minority-owned business, there is a huge benefit of pursuing a Minority Business Enterprise (MBE) Certification. You get access to private sector and corporate contracts, networking events, searchable supplier databases, and even specialized financing. The primary qualification for this certification is that minorities must own at least 51% of the business. Furthermore, a business should meet other criteria provided for the certification.
LEED Certification
This certification is mainly good news to entrepreneurs who operate their business out of their home or office building. With the Leadership in Energy and Environmental Design (LEED) Certification, it is easy to make structural or interior updates due to their tax credits, fee waivers, and grants.
This is one of the most popular green building certification programs in the US. Primarily, LEED is designed to encourage businesses to adopt sustainable designs. The program has a ranking system that assigns points based on building construction, design, operation, and maintenance. According to the number of points you receive, you can get a Silver, Gold, or Platinum LEED Certification.
Furthermore, it is imperative to note that becoming LEED certified exhibits a commitment to environmental sustainability. In turn, this can be a key motivator for prospects as they consider your services. Your business can also realize financial savings. Savings may accrue from installing fixtures to reduce water consumption, or maximizing natural light to cut back on electric bills.
B Corp Certification
B Corps are profit-oriented companies that must meet thorough standards of social and environmental performance, accountability, and transparency. The B Corp Certification demonstrates that your company is committed to being socially and environmentally responsible.
Through the B Corp Certification, your company will join the ranks of well-known businesses in the US and globally. A majority of consumers around the world pays more to support companies that are devoted to sustainability. Therefore, this certification can truly help your company stand out, even amid global competition. This certification also gives companies networking opportunities, which is a great way to attract new clients and potential investors.
Women’s Business Enterprise (WBE) and Women-Owned Small Business (WOSB) Certification
The U.S. Small Business Administration (SBA) offers these two certifications for women-owned business in the country.
The Women’s Business Enterprise (WBE) Certification gives a company the eligibility to execute both government and private sector contracts. The WBE Certification helps businesses to development goals by providing access to new contracts, networking opportunities, and training and education programs.
The Women Owned Small Business (WOSB) Certification offers companies an exclusive access to competitive federal contracts. Qualifications for this certification include being 51% ownership by 1 or more women. Moreover, a woman must hold the highest position at the company and be active in daily management.
At the beginning of the WOSB or WBE certification process, one should go through four SBA-approved third-party certifiers. Alliteratively, you can self-certify through the SBA.
Service-Disabled Veteran-Owned Small Business (SDVOSB) and Veteran Owned Small Business (VOSB) Certification
Certification of veteran-owned small business provides access to prime federal government contracts and subcontracts through set-asides. In the US, Federal regulations help ensure small businesses get a fair share of work in the federal market. Additionally, federal agencies must set aside a fraction of their contracts for veteran-owned small businesses each year.
Service-Disabled Veteran-Owned Small Business (SDVOSB) and Veteran Owned Small Business (VOSB) Certifications require a series of steps. Notably, it may get a bit complicated because no single government body or third party that manages the certifications. Start by getting certification as a veteran-owned business by registering with VetBiz Registry. If you are service-disabled, you will need a disability status letter from the Veterans Affairs during the application process.
After getting either the VOSB or SDVOSB Certification, companies become eligible to participate in the U.S. Department of Veterans Affairs (VA) Veteran’s First Contracting Program. This program provides access to set-aside contracts with the VA. After registering with the VA, it is also crucial to register with the Central Contractor Registration (CCR) to become eligible for government contracts. In addition, it would be best to register with the General Services Administration (GSA) if you are interested in seeking larger contracts with the federal government.
Obtaining certifications for your business can be an excellent way to differentiate your business. If you would like to get more information about small business certifications in the US, contact us. Our experts will be willing to help you accordingly.
