Hey all. I have a small priting business in Los Angeles. We’re an S-corp with 2 locations, 7 employees, and been in business for over 30 years. My wife and I are very close and have a baby daughter. Now that we have a family, we are working together and smarter. I am looking at growing my business and working to get some government contracts and am debating giving my wife 51% ownership so that we can be a women owned business. Does anyone have any experience with that?

Pros and cons of such a move?

I would still do everything for the business, but just wanting to do this on paper for the government contracting. Is there a way to do it like that?

Any suggestions in doing so?

Your thoughts are really appreciated!