Women’s History Month

Women-Certified Businesses

Women's History Month provides an opportunity to reflect on how women have significantly impacted our world. Although this month’s significance may differ from person to person, the core message is to celebrate the achievements, contributions, and resilience of women everywhere.

In honor of Women’s History Month, we are focusing on niche financial planning areas that specifically concern women. Let’s take time to explore some of the advantages of businesses that are majority owned by women. These businesses can apply for specialized certifications that grant access to exclusive federal and corporate contracts. They benefit from increased networking, mentorship, targeted financial support, tax benefits, and enhanced brand reputation, often yielding higher revenues and better ROI (as much as 130%).

Supporting women-certified businesses can be a strategic business approach due to exclusive tax benefits and unique incentives. Most states offer special training and networking opportunities for registered businesses. Some states encourage women-owned firms to participate in municipal purchasing programs. A business could receive reduced tax liabilities for projects funded with federal or state grants or loans. Additional tax incentives are available for businesses that partner with women-owned firms, and potential tax credits and waiver inducements from local and national agencies are available for investors who choose to buy into women-certified businesses. Establishing, supporting, or investing in women-certified businesses can yield significant advantages.

The lynchpin of these benefits lies in a woman owning at least 51% of a company to qualify. When a woman is the majority owner, it is crucial to protect her shares. Life insurance can serve as a safety net for the untimely death of the majority shareholder in any company. Structuring life insurance becomes even more essential for businesses that are majority-owned by women, as the company could lose tax incentives and contracts that they depend on.

We welcome any questions or opportunities to assist you or your clients in achieving identified goals. We take pride in serving a select number of families, businesses, and charitable institutions each year, and we look forward to hearing from you.