Minority Business Enterprise
A Minority Business Enterprise (MBE) is a business that is at least 51% owned, operated, and controlled by individuals from minority groups. These groups typically include African Americans, Hispanic Americans, Native Americans, Asian Pacific Americans, and Subcontinent Asian Americans. MBEs are often certified by various organizations to help them access government contracts and other business opportunities.
The purpose of MBE certification is to promote diversity in the business community and to support economic growth within minority populations. Many government agencies and corporations have programs aimed at increasing their procurement from MBEs, recognizing the importance of inclusivity in the marketplace.