Minority Business Enterprise

What is Minority Business Enterprise?

 

‘Minority Business Enterprise’ is an American title conferred upon a company that is owned at least 51% and managed by a minority group of either African Americans, Hispanics, Asians, or Native Americans.

 

Minority Business Enterprises or MBEs are certified by the city, state, or federal agency on behalf of the American National Minority Supplier Development Council (NMSDC).

 

As per the data collected by the Minority Business Development Agency of America, minorities own more than 8 million companies, with their cumulative revenue amounting to more than $1.4 trillion.

 

However, there have been multiple controversies surrounding MBEs too. There have been multiple cases where individuals have claimed to own an MBE only to understand that it was a fraud.

More HR Terms

Self-Funded (Self-Insured) Plan

What is a Self-Funded (Self-Insured) Plan?   ‘Self-Funded Plan’ or ‘Self-Insured Plan’ refers to a kind of medical insurance plan in which the employer pays

Pareto Principle

What is Pareto Principle?   The ‘Pareto Principle states that in most events, 20% of the causes lead to 80% of the effects. This ratio

Contact Us

Contact Us

We use cookies on our website to provide you with the best experience.
Take a look at our ‘privacy policy’