minority-owned business
Non-majority proprietor company
A minority-owned business is a company where more than half the ownership belongs to people from racial or ethnic minority groups—typically Black, Hispanic, Asian, Native American, or other non-white populations.
The designation matters for government contracting programs and corporate supplier diversity initiatives that aim to direct business toward historically underrepresented groups: They prioritize minority-owned businesses when awarding contracts.
Certification requirements vary by jurisdiction and program.
- entrepreneurOne who starts businesses
- diverseOf many types
- supplierSource of goods
- certificationAttestation of qualification
- contractEnforceable written agreement
storefront · community · hustle · brick and mortar · founder · startup · bootstrap mentality · loan · grant · disadvantaged · procurement · vendor · local · family-owned · second chance · level playing field · BIPOC · underrepresented
- economic inequalityincome inequality, wealth gap, income gap, pay gap, wage gap
minority-owned businesstraditional ownership
Historically recognized property rights
minority, minors, minorities, owners, ownership, owning, business, businesses, busyness