Minority business enterprise
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 classifications:
- African American
- Asian American (includes West Asian Americans (India, etc.) and East Asian Americans (Japan, Korea, etc.))
- Hispanic American - Persons with origins from Latin America,South America,Portugal and Spain.(SBA.gov)
- Native American including Aleuts
According to the U.S. Small Business Administration, minorities own more than 4.1 million firms, and account for nearly $700 billion in revenues.
MBE's can be self identified but are typically certified by a city, state or federal agency. The predominant certifier for minority businesses is the National Minority Supplier Development Council with its 35-40 regional affiliates.
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