minority-owned businesses
Smaller-group-owned companies
Minority-owned businesses are companies where more than half the ownership belongs to individuals from racial or ethnic minority groups—typically Black, Hispanic, Asian, Native American, or other non-white populations.
The designation matters for government contracts, grants, and certification programs designed to promote economic equity: The city requires that 20% of contract dollars go to minority-owned businesses.
Sometimes expanded to include women-owned or veteran-owned enterprises.
- mom and popInformal term for parents
- entrepreneurOne who starts businesses
- diversityState of varied elements
- supplierSource of goods
- storefrontRetail facade facing street
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minority-owned businessesmultinational corporations
Businesses operating in multiple countries
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