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by Kali Geldis, Head of Content Syndication at Nav Inc.
When I found this article on Black Enterprise, I could not wait to share it with my network. According to Black Enterprise, in 2012, the U.S. Census Bureau reported that there were 8 million minority-owned businesses in the U.S. That’s a huge number of business owners looking for opportunities to achieve the American dream and make it as a successful entrepreneur.
If you own one of those businesses (like you or me), becoming certified as a minority-owned business allows you to access certain government and private-sector programs that can help support your efforts. Here are three certifications/qualifications that can help minority business owners get support for their venture.
The National Minority Supplier Development Council (NMSC) is a trade group that supports certified minority business enterprises in obtaining new business opportunities and connects them to their network, which includes corporate members. Their goal is to help MBEs integrate into industry supply chains and to help corporate members meet the increasing call for supplier diversity. The council’s efforts match more than 12,000 MBEs to their impressive network of corporate members.
The council’s regional affiliates coordinate the MBE certification process, and you’ll want to start your application by contacting the affiliate closest to your company’s headquarters. You can visit NMSDC Central to learn more about applying for certification and completing the MBE Certification Application.
This is not a government-affiliated program like the 8(a) and DBE certification. There is an application fee for processing the application. The application process also includes a site visit and interview. The Council’s Certification Committee will review your application, and final approval is issued by the Council’s Board after a review of the committee’s recommendations.
In general, your business may apply for certification if the company is 51% owned and operated by minority individuals who are U.S. citizens. The minority ownership members must manage the company’s daily operations, and it must be a for-profit enterprise located in the U.S. or its trust territories.*
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