What is MBE Certification?
MBE Certification stands for Minority Business Enterprise and indicates that a minority (or minorities) has majority ownership (51%) and control of a business entity in their company’s day to day operations.
Why is MBE Certification important?
Obtaining an MBE Certification is an important business strategy for minority business owners because most local and national government purchasing agencies have great assurance that a business declaring itself as a Minority Business Enterprise is, in face, minority-owned and controlled. Many publicly-owned and private corporations keep track of their business connections and programs with MBE Certified business; they also depend heavily on MBE Certifications.
The federal government has established MBE goals to promote equality of economic opportunities for MBE certified businesses and to eradicate barriers to their participation in federal, state, and local contracts. The intent of these programs is to encourage higher utilization of minority-owned firms in both numbers of firms awarded contracts and the dollar amounts awarded to them.