Best Real Estate Lawyers in Oklahoma City, OK

Kelly Offutt and Kate Janke for the Journal Record - Benefits of Women-Owned Business Certification Program Certified women-owned businesses can enjoy certain benefits in Oklahoma. These benefits generally include an advantage in competing for both private and public sector contracts. The certification or qualifying businesses can offer women-owned small businesses increased opportunities with minimal cost to qualifying businesses. To qualify, a women-owned business must: 1. be "at least fifty-one percent (51%) owned by one or more women" for a private business or, "at least fifty-one percent (51%) of all classes or types of stock" must be owned by one or more women if a public business; and 2. the "management and daily business operations" must be controlled by one or more women. Qualifying businesses can apply to become a Certified Women-Owned Business in Oklahoma. The application requires information including business history, entity organizational documents, percentages of ownership, and current financial statements. Once approved, the certification remains in effect for five years, subject to ongoing requirements. For example, if a Certified Women-Owned Business changes ownership during the 5-year term of its certification and is no longer majority women-owned or operated, the certification can be revoked.