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A Minority Business Enterprise (MBE) is an American term which is defined as a business which is at least 51% owned, operated and controlled on a daily basis by one or more (in combination) American citizens of the following ethnic minority and/or gender (e.g. woman-owned) and/or military veteran classifications:-
- African American
- Asian American (includes West Asian Americans (India, etc.) and East Asian Americans (Japan, Korea, etc.))
- Hispanic American - Persons with origins from Latin America, South America, Portugal and Spain.(SBA.gov)
- Native American including Aleuts
- Service-Disabled Veteran Owned a.k.a. SDVBE, a.k.a. DVBE* which became a federally certified classification in 1999, subsequent to the passage legislation by the United States Congress through the enactment of The Veterans Entrepreneurship and Small Business Act of 1999 (The Act); legislation that was further expanded by Congress in 2001.**
According to the U.S. Small Business Administration, minorities own more than 4.1 million firms, and account for nearly $700 billion in revenues.
MBE's can be self-identified but are typically certified by a city, state or federal agency.
Source of the article : Wikipedia
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