What is Required for MBE/WBE Certification?
While varying from agency to agency, the MBE/WBE certifications require: a. That the company be owned and controlled by a minority or woman. b. That the controlling minority or woman be capable of performing the daily business management of the company. Ownership is established through proof that the minority or woman owns at least 51% of the stock of the corporation, or hold a 51% interest in any partnership. The “control” factor requires proof that the minority or woman holds 51% control of the voting power of the business. The owner must also prove that he or she controls the daily management of the company. This inquiry is established to eliminate “front” companies, or those companies where a minority or woman owns 51% of the company but does not manage the business. For certification purposes, the minority or woman must be capable of running most, if not all, aspects of the business. This requires more than just performing accounting functions. The certifying agency will examine w
