Opportunities for funding are usually the first option small business owners consider when looking to grow their businesses. But there are plenty of other opportunities to help take small businesses to the next level. Certifications are a great way for small businesses to receive extra support, establish authority, and set themselves apart from other businesses. Based on the ownership and purpose of your small business, one or more of these certifications may be your next step for growth.
For certifications related to ownership, small businesses must be at least 51% owned by someone who is part of the community the program is meant for.
Minority Business Enterprise (MBE) Certification
Supporting MBE certified small businesses helps larger companies and government entities show they care about equity and social impact. This encourages them to do business with small businesses that are certified. Besides bringing in new work for small businesses, the MBE Certification also expands their networks through the community of MBEs. The National Minority Supplier Development Council (NMSDC) provides many MBE certification options in its NMSDC Central.
Small Disadvantaged Business (SBD) Registration
The federal government awards about $50 million in contracts to businesses with this registration every year. The U.S. Small Business Administration offers small businesses several opportunities for support through its contracting assistance programs.
Women-Owned Small Business (WOSB), Women Business Enterprise (WBENC) Certifications
Businesses with the WOSB certification can compete for contracts specific to women-owned businesses. They are also always strongly considered for general contracts. The WBENC certification gives small businesses access to special business opportunities, professional development resources, and a community of other businesses with the certification. The WOSB and WBENC Certifications are valuable tools to help women-owned small businesses grow.
LGBT Business Enterprise Certification
With this certification, small businesses can compete for sourcing contracts with the National LGBT Chamber of Commerce’s (NGLCC) partners, access professional development and learning opportunities, and connect with other certified businesses. The NGLCC shares more benefits on its certification page.
Veteran-Owned Small Business (VOSB), Service-Disabled Veteran-Owned Small Business (SDVOSB) Certifications
The VOSB Certification helps small businesses compete for federal contracts at the Department of Veteran Affairs meant only for veteran-owned businesses. Contracts for SDVOSB certified businesses come from the federal government. Beyond these certifications, the U.S. Small Business Administration offers many other helpful tools for veteran-owned businesses.
B Corporation (B Corp) Certification
Small businesses that are B Corp certified exist to make a difference. By committing to making positive change, B Corps gain stakeholder trust and loyalty. Small businesses that are B Corp certified are an important part of the larger B Corp movement.
Leadership in Energy and Environmental Design (LEED) Certification
Small businesses with this certification design buildings or workspaces to support sustainability and human health. LEED certified buildings limit their impact on climate change, restore and protect water resources, improve quality of life in their communities, and more. Simply put, people like working in LEED certified buildings. Businesses in LEED certified buildings have better recruitment and retention and may boost their employees’ physical and mental health. Overall, LEED certified buildings have a major impact in their communities.
Certifications can open your small business to opportunities for contracts, meaningful relationships, professional development resources, and more. The advantages they provide your small business can be well worth the time and effort dedicated to applying for them.