WOSB Law and Legal Definition
WOSB is the abbreviation for Women-Owned Small Businesses. To qualify as a WOSB, a concern must be a small business not less than 51 percent unconditionally and directly owned and controlled by one or more women who are United States citizens. Control by one or more women or economically disadvantaged women means that both the long-term decision making and the day-to-day management and administration of the business operations must be conducted by one or more women or economically disadvantaged women.
Section 7106 of Public Law 103-355 established a government-wide goal for WOSB concerns at not less than 5% of the total value of all prime contract and subcontract awards for each fiscal year. The WOSB programs aims to facilitate, preserve, and strengthen full participation of women-owned small businesses in the DoD acquisition programs; to promote efforts to achieve the government wide 5% goal for prime and subcontract awards to women-owned small businesses and to support the growth of women-owned small businesses through outreach and technical assistance.
To assist WOSB concerns in gaining access to DoD procurement opportunities, the Military Departments, Defense Agencies, and subordinate commands are assigned WOSB prime contracting and subcontracting goals. Each must report progress towards meeting these goals.