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Certifications can help you gain access to specialized funding and scholarships, allow you to compete for set-aside contracts, and win federal awards in funding. To help provide a level playing field for small businesses, the government limits competition for certain contracts called “small business set-asides.” This means that the Federal contracting officials are required and are incentivized to meet their set-aside spending awards. Did you know? Under the Simplified Acquisition Procedures for contracts under $250,000, when at least two small businesses can fulfill the contract, the government must set aside a contract exclusively for small businesses, including certain small businesses based on their socio-economic condition, which may receive exclusive bidding rights for their category. ELIGIBLE SMALL BUSINESS SET-ASIDE CATEGORIES 1. Women-Owned Small Business (WOSB) 2. Economically Disadvantaged WOSB (EDWOSB) 3. Veteran-Owned Small Business (VOSB) 4. Service-Disabled VOSB (SDVOSB) 5. 8(a) Small Disadvantaged Business 6. Historically Underutilized Business Zone (HUBZone) 7. Minority Business Enterprise (MBE) Once you’ve obtained your new status, be sure to maintain certification by applying for renewal each year, and let the government know by advertising on marketing and promotional materials. Be sure to take advantage of perks that come with certification as well such as federal grant programs, attending member events, participating in mentoring programs, or actively applying for new contracts.