The $3 Million Advantage: Why Certification Matters in Federal Contracts
In today's episode, we dive into the certification process for diverse-owned businesses. The state and federal certifications often require a minimum requirement, such as being in business for a year for WOSB in New York. However, the private sector, specifically the big five, don't have such requirements. The minimum requirement to apply for certification is just one sale, but it's crucial to prove that the business is legitimate. Corporate clients often request certification, and failing to do so can raise a red flag. If a business can't meet the minimum thresholds for certification, it's necessary to reorganize itself. Certification can be an excellent tool for businesses to organize their paperwork and become eligible for bank loans. Tune in to learn more about the certification process and how it can benefit diverse-owned businesses.