SWaM refers to small, Women-owned and Minority-owned businesses. This program is a common wealth small business program that was created to enhance procurement opportunities for small, women and minority owned business participating in state funded projects. Businesses can become swam certified by Virginia Department of Small Business and Supplier Diversity (SBSD) and entered in SWaM vendor directory utilized by state procurement officials to locate SWaM certified vendors. In this review article, you will learn about common wealth of Virginia SWaM program including benefits of program and how to become SWaM certified.
How to become SWaM Certified?
This program was created to enhance opportunities in business for SWaM certified businesses. You must need to qualify and register with Virginia Department of Small Business and Supplier Diversity (SBSD). All small, Women-owned and Minority-owned who qualify are encouraged to become certified as small business-
- Need to complete initial certificate application and after that SBSD will connect you to request you either additional documents or offer your SWaM certification number.
Designations of swam certification
1.) Small business
A small business is a business that is at least 51% owned and controlled by one or more individuals who are legal resident aliens and U.S. citizens and together with its affiliates, has no more than 250 employees or average gross receipts over the most recent three year period has no more than $10 million.
2.) Women Owned Business
Women owned business is a business that is at least 51% owned and controlled by one or more women who are legal resident aliens or U.S. citizens and both daily business operations and management are controlled by one or more women.
3.) Minority Owned Business
A minority owned business is a business that is at least 51% owned and controlled by one or more minority individuals who are legal resident aliens or U.S. citizens and both management and daily business operations are controlled by one or more minority individuals.
4.) Service-Disabled Veteran-Owned Small Business
Service-Disabled Veteran-Owned Small Business is a business that is at least 51% owned and controlled by one or more service-disabled veterans who are legal resident aliens or U.S. citizens and both management and daily business operations are controlled by one or more service-disabled veterans.
5.) Micro Business
A micro business is a business that is first certified as a small business in SWaM program and has no more than 25 employees and average gross receipts of no more than $3 million over the most recent three year period.
Conclusion
SWaM certification program is a state program of the common wealth of Virginia. The main aim of this program is to enhance procurement opportunities for SWaM businesses participating in state-funded projects.
