Most Common Certification Mistake by Women Business Owners
When seeking certification as a women owned business, the most common mistake is the belief that owning the company by 51% or more guaranties certification. This could not be further from the truth. WBENC certification for a Women Business Enterprise (WBE) is based on 4 basic criteria: Ownership, Control, Management, and Independence. A woman may have the ownership portion, but give control of the company to a male partner or a board member who is a male may hold the power and control to direct the course of the business. This is done through the governances of the company; Bylaws for a Corporation or an Operating Agreement for a Limited Liability Company. The best way to understand the criteria for the certification process is to use the WBENC Standards & Procedures located on the WBENC website — this is your blueprint for a successful certification.