Certifying Your Business: Benefits You Need to Know
Certifying your business is very significant, and it’s important to recognize the significant benefits that come with it. This isn’t just about adding a few letters to your business card; it’s about unlocking a wealth of opportunities. Certification can connect you with new contacts and grant access to exclusive events. It also helps you stand out in a competitive field, broadens your client base, and enhances your resilience during economic downturns.
However, it doesn’t end there. Here are six compelling reasons to become a certified small business:
Certifying your business provides a competitive edge.
Many government agencies, including city, state, and federal entities, establish annual and contract-specific goals for small businesses, including minority and women-owned enterprises. To meet these goals, they often seek certified companies.
By certifying your small business, you enhance your position in the contract bidding process. Certifications can also provide an advantage in request for proposal (RFP) bids, as certified companies often earn extra points, improving your chances of winning set-aside contracts. This benefit extends to certified businesses on your team as well.
Additionally, Fortune 500 companies like Walmart, ExxonMobil, and Bank of America have supplier diversity programs that prioritize certified suppliers. Thus, certifying your business opens doors to valuable opportunities with both government and major corporations through their supplier diversity initiatives.
Business certification aids diversification of client base
Diversifying your income stream is crucial for reducing reliance on a single source to support your business. Certifying your business can help attract a diverse range of clients who will use your services and refer you to others.
This broad client base is vital for navigating economic challenges. For instance, during the 2008 economic downturn, many woman-owned businesses we collaborated with before founding B2G Victory managed to avoid staff layoffs, thanks in part to their diversified client base and certified business status.
It opens doors to larger companies
When you think of government contracts, the federal level often comes to mind, but local opportunities are also significant. For instance, small businesses can compete for federal contracts through local school districts. Many of these projects involve a prime contractor who looks for certified small businesses to handle parts of the larger contract. By certifying your business, you make it easier for prime contractors to discover and consider your company for these opportunities.
It boosts brand visibility
Maximize your brand visibility by showcasing your certification across all marketing channels. You never know where potential opportunities might arise—whether through a flyer at a tradeshow or an online search for certified businesses. Leveraging your certification can help you secure unexpected contracts.
For example, certified businesses can be listed in directories that prime contractors use when responding to bids, which can lead to inclusion in large projects. Additionally, presenting your certification at pre-bid meetings with a capabilities statement and notifying past or current clients about your certification can increase your chances of being added to projects.
Access to education and mentoring programs
Certified businesses often gain access to specialized training and mentoring programs provided by agencies with small business initiatives. These programs are designed to ensure that businesses are capable of handling work as subcontractors or prime contractors. Through these programs, certified businesses can receive targeted training and benefit from partnerships with larger firms, which include set goals and objectives to aid in their growth. This support not only enhances skills but can also lead to new opportunities and projects.
Eligibility for exclusive events and networking opportunities
As a certified small business, you gain access to exclusive events tailored to your industry. Picture yourself mingling with agencies and prime contractors eager to collaborate. These events offer valuable opportunities to secure contracts and network, putting your company’s name directly in front of decision-makers.
Looking for more resources
for your small business?
B2G Victory can help! Schedule a time on our Booking Calendar at the link below, and we’ll discuss what resources your business needs to achieve victory.