To become a Certified Minority Business Enterprise (MBE), your business must meet the following requirements. Both current and historical facts are considered in determining ownership qualifications and participation in the management and operations of the company.
- United States citizens.
Minority businesses must be at least 51% minority-owned operated and controlled.
For the purposes of NMSDC’s program, a minority group member is an individual who is at least 25% Asian, Black, Hispanic or Native American. Minority eligibility is established via a combination of screenings, interviews and site visits. Ownership, in the case of a publicly-owned business, means that at least 51% of the stock is owned by one or more minority group members.
- Must be a profit enterprise and physically located in the U. S. or its trust territories.
- Management and daily operations must be exercised by the minority ownership member(s).