A small business that is at least 51 percent owned and controlled by one or more women, certified either through the SBA directly or an SBA-approved third party. Certification unlocks set-asides in the specific industries where SBA has found women-owned firms are underrepresented, which is a shorter list of NAICS codes than people expect, so check whether your industry is actually on it before assuming the certification helps you. Economically disadvantaged WOSBs, or EDWOSBs, meet extra requirements and can reach a slightly wider set of set-asides.
In a sentence
"This procurement is set aside for Economically Disadvantaged Women-Owned Small Business concerns under NAICS 541330." Check that your NAICS code is actually one the WOSB program covers before you spend time on the rest of the notice.