What Is a Minority Business Enterprise (MBE)?
Many construction projects have both State & Federal Diversity participation goals that Owners, General Contractors, and even Prime Contractors are trying to achieve. These goals often require that a certain percentage of the Project’s contract value is awarded to certified MBE firms.
A Minority Business Enterprise (MBE) certification identifies companies that are owned by a minority group. Always refer back to your contract, but typically minority groups are classified as:
- Black American Business Owners
- Hispanic American Business Owners
- Asian American & Pacific Islander Business Owners
- Native American or Alaskan Native Business Owners
To receive the MBE certification, the Minority Owner must also:
- Have 51% Ownership
- Operate and Control the daily operations
- Oversee the company management
If your company qualifies for the MBE certification, it’s a very important marketing tool to have. This designation helps decision-makers match-make the right contract opportunities. When Owners and General Contractors are performing outreach efforts targeting MBE’s to hire for their Construction projects, having that certification can put you one step closer to finding the right opportunities.
If you have any questions about how to obtain the MBE certification or about MBE’s benefits in general, reach out to TSIB and speak with one of our Risk Consultants today for more information!
TSIB’s Risk Consultants are currently servicing the following locations:
East Coast: New York City, NY; Bergen County, NJ; Fairfield County, CT; Philadelphia, PA
Texas: Austin, San Antonio, Houston, Dallas
California: Orange County, Los Angeles County, Riverside County, San Bernardino County, San Diego County
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