Minority business enterprise

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A Minority Business Enterprise (MBE) is an American term which is defined as a business which is at least 51% owned, operated and controlled on a daily basis by one or more (in combination) American citizens of the following ethnic minority and/or gender (e.g. woman-owned) and/or military veteran classifications:

1. African American
2. Asian American or Pacific Islander (includes West Asian Americans (India, etc.) and East Asian Americans (Japan, Korea, etc.))
3. Hispanic American - Persons with origins from Latin America, South America, Portugal and Spain.(SBA.gov)
4. Native American, including Aleuts
5. Hasidic Jew
6. Service-Disabled Veteran Owned a.k.a. SDVBE, a.k.a. DVBE* which became a federally certified classification in 1999, subsequent to the passage legislation by the United States Congress through the enactment of The Veterans Entrepreneurship and Small Business Act of 1999 (The Act); legislation that was further expanded by Congress in 2001.**

According to the Minority Business Development Agency, minorities own more than 8 million firms, and account for nearly $1.4 trillion in revenues.

MBE's can self-identify, but are typically certified by a city, state or federal agency.

Video Minority business enterprise

References

Source of the article : Wikipedia