Both government and private organizations offer businesses multiple ways to “certify” their business as a particular type. Common certifications include small business, woman-owned, minority-owned, and disabled veteran-owned. But what do those certifications mean and is it worth looking into certifying your business?
There are two main reasons businesses choose to get certified. The first is that government agencies and even some private companies offer business opportunities to particular types of businesses. A good example is that many state agencies set aside a certain number of contracts for small businesses certified with the U.S. Small Business Administration.
Another reason to get certified is marketing. A business targeting women might attract more customers if they can advertise as a certified woman-owned business. Similarly, many customers will appreciate knowing that they’re supporting small or veteran-owned businesses.
Before deciding to certify your business, it’s a good idea to do your homework. First, make sure you qualify. Second, specific business opportunities may require you to be certified by a particular organization (like a national organization rather than a state government). Finally, research the certification process. Some certifications may be fairly simple and ask for limited information. Others require you to follow a lot of steps, including an on-site visit, and can take a while to complete.
Certifying your business can be a great way to market your business or access new opportunities. Our attorneys can help you decide if it’s the right choice for your business and walk you through the process.