Generally, this certification is non-industry specific but requires that the company is at least 51% owned, operated and controlled by one or more; Asian, Black, Hispanic or Native American.
Ownership by minority individuals means the business is at least 51%owned by such individuals or, in the case of a publicly-owned business, at least 51% of the stock is owned by one or more such individuals. Further, the management and daily operations are controlled by those minority group members.
Most industries, defines a “small business” either in terms of the average number of employees over the past 12 months, or average annual receipts over the past three years.
- Is organized for profit
- Has a place of business in the US
- Operates primarily within the U.S. or makes a significant contribution to the U.S. economy through payment of taxes or use of American products, materials or labor
- Is independently owned and operated
- Is not dominant in its field on a national basis
- United States citizenship
- Minority businesses group member is an individual who is at least 51% minority-owned operated and controlled. (Asian, Black, Hispanic or Native American)
- Ownership, in the case of a publicly-owned business, means that at least 51% of the stock is owned by one or more minority group members.
- Must be a profit enterprise and physically located in the U. S. or its trust territories.
- Management and daily operations must be exercised by the minority ownership member(s).
Ownership Required documentation:
- The History of Business
- Certificate of Incorporation
- Articles of Incorporation
- Capabilities Statement
- Stock Certificates and Stock Ledger
- Minutes to Board of Director’s meetings as well as Shareholder’s meetings
- Bylaws (executed and attested) and Amendments (if applicable)
- All agreement(s) pertaining to ownership, operation, and control of the business
- Business cards that list appropriate corporate titles, copies of resumes, copy of driver’s licenses and proof of US Citizenship (Birth certificates or U.S. Passports only) for all Principals
- Corporate Bank Resolution Agreement(s) to include Bank Signature Card(s)
- Business Lease Agreement(s) (and Security Deeds if home-based)
- Proof of general liability insurance and in some cases bonding
- Copies of the businesses’ cancelled checks
The business may be a sole proprietorship, partnership, corporation, or any other legal form.
What to Expect:
- The Certification process can take up to 30 days.
- Certification includes membership
- When completing the application.
- Your information is strictly confidential.
- The processing of your application will begin when payment is received.
- Application and documents are reviewed for completeness.
- If your application is approved, you will be notified via e-mail
- If the Board rejects your application, you may submit a letter of appeal.