As a woman-owned business in Minnesota, getting recognized and certified can help you stand out and gain access to new opportunities. In this blog post, we’ll provide bookkeeping advice and a comprehensive guide to the certification of women-owned business to help you get your women-owned business recognized and certified in Minnesota.
Determine Eligibility
The first step in getting certified as a women-owned business is to determine eligibility. To be eligible for certification, your business must meet the following general criteria:
- Your business must be at least 51% owned and controlled by women.
- Women must hold the highest officer positions in your business and be actively involved in day-to-day management.
- Your business must be located in the United States or one of its territories.
If you meet these eligibility requirements, you can move on to the next steps.
Gather Documentation
To apply for certification, you will need to provide documentation that proves your eligibility. This may include business ownership documents, tax returns, and other financial records. You will also need to provide information about your business, such as the type of business, number of employees, and the services or products offered. Working with a professional accounting agency that offers comprehensive accounting services to maintain your financial and business records can help to make this step easier.
Choose a Certification Agency: There are several certification agencies that offer certification for women-owned businesses in Minnesota. The Women’s Business Development Center (WBDC), the National Women Business Owners Corporation (NWBOC), and the Women’s Business Enterprise National Council (WBENC) are all recognized certification agencies. Each agency has its own requirements and application process, so be sure to research each one and choose the best fit for your business.
Complete the Application
Once you’ve chosen a certification agency, you’ll need to complete the application. The application will ask for information about your business, ownership, and financial records. Be sure to provide all necessary documentation to ensure a smooth application process.
Attend a Certification Workshop
Certification workshops are available to help you prepare for the certification process. These workshops provide bookkeeping advice, tips for completing the application, and other resources to help you get certified. The WBDC offers a variety of workshops and events, as well as free business counseling services to help women-owned businesses succeed.
Maintain Certification
Once you’ve been certified, it’s important to maintain your certification. This may include submitting annual reports, participating in continuing education, and attending networking events. By staying up-to-date with the latest industry trends and connecting with other women-owned businesses, you can continue to grow and thrive.
Working with Haworth & Company
Getting your women-owned business recognized and certified in Minnesota can open up new opportunities and help your business stand out. Much of the work to get certified can be made simpler if you have a good working relationship with an accounting firm. At Haworth & Company, we work with our clients throughout the year to make sure that they have the insight and the documentation they need to move their businesses forward. Contact us today to start a conversation.
Disclaimer: This blog content is for general informational purposes only, should not be considered professional advice, and does not establish a client relationship. Haworth and Company is not liable for the accuracy of this information or the content of external links. Please use this information at your own risk, ensuring it suits your specific needs, and consult with a certified tax professional for your own personalized guidance.
