What is Minority business enterprise?
Minority business enterprise refers to a business/company that's at least 51% owned, managed and controlled by one or more minority groups on a daily basis.
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Minority business enterprise definition
Minority business enterprise refers to a business/company that's at least 51% owned, managed and controlled by one or more minority groups on a daily basis. It's most commonly found in the U.S. and their referent groups include African Americans, Asian Americans, Hispanic Americans or Native Americans citizens.
Minority business enterprises can self-identify as such, but will need an official certification to be legitimate. The certification is usually done by a city, state or federal agency.