Women‐Owned Small Business [WOSB] Law and Legal Definition

A Women-Owned Small Business (WOSB) is a small business concern that is at least 51 percent directly and unconditionally owned and controlled by one or more women who are citizens of the United States. The Small Business Act through the Women-Owned Small Business Program authorizes contracting officers to specifically limit, or set aside, certain requirements for competition solely amongst women owned small businesses. These procurement mechanisms are meant to increase Federal contracting opportunities for WOSBs and to assist agencies in achieving their women-owned small business goals. Women-owned businesses are one of the fastest growing sectors of the U.S. Economy, and has been one of the key job creation engines in communities across the country.