How Do You Qualify As A Minority Owned Business?
To become certified as a minority business, at least 51% of your company needs to be owned by a minority. The benefits of qualifying as a minority business include: access to the federal procurement market, ability to qualify for projects that require a certain percentage of minority business enterprise (MBE) participation and access to educational programs and financial assistance specific to MBEs. Step 1 Visit the Small Business Administration website for information about the 8(a) program. The basic requirements is that a business must be “owned and controlled by a socially and economically disadvantaged individual.” Step 2 Apply to the 8(a) Program. You can apply by visiting any SBA district office. For a list of district offices, please visit the first link in the Resources section below. Step 3 Visit the National Minority Supplier Diversity Council website. You will find information on certification procedures for each state that offers its own certification.
