Minority Business Enterprise Essay
What is a Minority Business Enterprise?
A minority business enterprise, sometimes called an MBE, is a term that describes a commercial organization that is owned and operated on a daily basis by certain minorities. The term minority business enterprise also refers to a specific, private business certification through the National Minority Supplier Development Council (NMSDC).
http://www.nmsdc.org/mbes/mbe-certification/
Eligibility Qualifications
Only certain minorities qualify for this unique classification through the NMSDC. This includes minorities of African, Asian, Hispanic and Native American ancestry. It also includes females and service-disabled veterans. All other minorities do not qualify for this particular certification program. The Asian American category includes West Asian Americans form countries like India and Pakistan as well as East Asian Americans from China and Japan. The category of Hispanic Americans includes people with origins from Portugal, Spain, Latin America and South America. The Native American category includes Aleuts from the Alaska region.
Qualifications …show more content…
Many government agencies require a certain percentage of funding recipients and government contracts to be awarded to minority-owned businesses. Global corporations also set specific percentages for contracts to buy from and sell to minority-owned suppliers. All organizations use the MBE certification to promote their commitment to diversity and equality. This is especially important for corporations with previously poor PR records with minorities.
Corporations conclude that one cannot expect minorities to buy products and services from businesses who dislike doing business with minorities. In short, many private and public firms search for minority-owned suppliers through similar certification programs.
The Certification
A minority business enterprise, sometimes called an MBE, is a term that describes a commercial organization that is owned and operated on a daily basis by certain minorities. The term minority business enterprise also refers to a specific, private business certification through the National Minority Supplier Development Council (NMSDC).
http://www.nmsdc.org/mbes/mbe-certification/
Eligibility Qualifications
Only certain minorities qualify for this unique classification through the NMSDC. This includes minorities of African, Asian, Hispanic and Native American ancestry. It also includes females and service-disabled veterans. All other minorities do not qualify for this particular certification program. The Asian American category includes West Asian Americans form countries like India and Pakistan as well as East Asian Americans from China and Japan. The category of Hispanic Americans includes people with origins from Portugal, Spain, Latin America and South America. The Native American category includes Aleuts from the Alaska region.
Qualifications …show more content…
Many government agencies require a certain percentage of funding recipients and government contracts to be awarded to minority-owned businesses. Global corporations also set specific percentages for contracts to buy from and sell to minority-owned suppliers. All organizations use the MBE certification to promote their commitment to diversity and equality. This is especially important for corporations with previously poor PR records with minorities.
Corporations conclude that one cannot expect minorities to buy products and services from businesses who dislike doing business with minorities. In short, many private and public firms search for minority-owned suppliers through similar certification programs.
The Certification