Minority-owned Business definition: Copy, customize, and use instantly
Introduction
The term "Minority-owned Business" refers to a business entity that is at least 51% owned, operated, and controlled by individuals from recognized minority groups. It is essential for ensuring eligibility for government programs, supplier diversity initiatives, and financial support.
Below are various examples of how "Minority-owned Business" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Minority-owned Business" as a legally recognized business entity
This definition ties "Minority-owned Business" to legal recognition and certification.
"Minority-owned Business" means a business entity that is at least 51% owned, operated, and controlled by individuals belonging to a recognized minority group, as certified by relevant governmental or private agencies.
Definition of "Minority-owned Business" as a supplier diversity participant
This definition connects "Minority-owned Business" to supplier diversity programs.
"Minority-owned Business" refers to a business that qualifies for supplier diversity programs based on its ownership and operational control by individuals from minority groups.
Definition of "Minority-owned Business" as a federal contracting entity
This definition links "Minority-owned Business" to federal contracting opportunities.
"Minority-owned Business" means a business that meets the eligibility criteria for federal minority business contracting programs, such as the Small Business Administration’s 8(a) Program.
Definition of "Minority-owned Business" as a community development contributor
This definition applies "Minority-owned Business" to local economic impact.
"Minority-owned Business" refers to a business enterprise owned and controlled by minority individuals that contributes to economic development within historically underserved communities.
Definition of "Minority-owned Business" as a financial aid-eligible entity
This definition ties "Minority-owned Business" to financial support eligibility.
"Minority-owned Business" means a business that qualifies for grants, low-interest loans, or tax incentives aimed at promoting economic participation by minority entrepreneurs.
Definition of "Minority-owned Business" as an SBA-certified business
This definition connects "Minority-owned Business" to Small Business Administration certification.
"Minority-owned Business" refers to a business entity that has obtained official certification from the U.S. Small Business Administration as a minority-owned enterprise.
Definition of "Minority-owned Business" as a corporate vendor partner
This definition links "Minority-owned Business" to corporate supply chains.
"Minority-owned Business" means a business entity that meets corporate supplier diversity requirements, allowing it to participate in procurement contracts with major corporations.
Definition of "Minority-owned Business" as a historically underutilized business
This definition applies "Minority-owned Business" to underrepresented enterprises.
"Minority-owned Business" refers to a business designated as a Historically Underutilized Business (HUB), recognized for its ownership by members of minority groups facing systemic economic barriers.
Definition of "Minority-owned Business" as an economic equity initiative participant
This definition ties "Minority-owned Business" to economic equity efforts.
"Minority-owned Business" means a business enterprise that participates in public or private initiatives designed to close economic disparities for historically marginalized business owners.
Definition of "Minority-owned Business" as a business incubator participant
This definition connects "Minority-owned Business" to entrepreneurship programs.
"Minority-owned Business" refers to a business owned by minority individuals that is eligible for specialized business incubator programs offering mentorship, funding, and networking opportunities.
Definition of "Minority-owned Business" as a venture capital recipient
This definition links "Minority-owned Business" to investment opportunities.
"Minority-owned Business" means a business that qualifies for venture capital funding specifically designated for minority entrepreneurs.
Definition of "Minority-owned Business" as a nonprofit business entity
This definition applies "Minority-owned Business" to nonprofit enterprises.
"Minority-owned Business" refers to a nonprofit organization that is owned, managed, or founded by individuals from recognized minority groups and serves underrepresented communities.
Definition of "Minority-owned Business" as a state-certified business
This definition ties "Minority-owned Business" to state-level certification programs.
"Minority-owned Business" means a business entity officially recognized and certified by a state agency as being at least 51% owned, operated, and controlled by minority individuals.
Definition of "Minority-owned Business" as a municipal contractor
This definition connects "Minority-owned Business" to local government contracting.
"Minority-owned Business" refers to a business that meets the eligibility criteria for minority participation in municipal contracts and procurement programs.
Definition of "Minority-owned Business" as a socially and economically disadvantaged enterprise
This definition links "Minority-owned Business" to programs supporting disadvantaged businesses.
"Minority-owned Business" means a business that qualifies as socially and economically disadvantaged under federal and state guidelines due to its ownership and control by minority individuals.
Definition of "Minority-owned Business" as a tax-incentivized entity
This definition applies "Minority-owned Business" to tax benefits.
"Minority-owned Business" refers to a business entity eligible for tax credits or deductions based on its minority ownership and contribution to economic inclusion efforts.
Definition of "Minority-owned Business" as an export-oriented enterprise
This definition ties "Minority-owned Business" to international trade programs.
"Minority-owned Business" means a business that qualifies for minority-focused export assistance programs, enabling international market expansion.
Definition of "Minority-owned Business" as a technology startup
This definition connects "Minority-owned Business" to the tech industry.
"Minority-owned Business" refers to a technology-focused enterprise that is majority-owned and controlled by individuals from recognized minority groups.
Definition of "Minority-owned Business" as an innovation grant recipient
This definition links "Minority-owned Business" to research and development funding.
"Minority-owned Business" means a business eligible for research grants and innovation funding specifically allocated for minority entrepreneurs.
Definition of "Minority-owned Business" as a franchise holder
This definition applies "Minority-owned Business" to franchise ownership.
"Minority-owned Business" refers to a business that is a franchise unit owned and operated by individuals from minority groups, in compliance with diversity ownership guidelines.
Definition of "Minority-owned Business" as a construction industry participant
This definition ties "Minority-owned Business" to the construction sector.
"Minority-owned Business" means a construction firm that meets government and private-sector diversity requirements for minority contractor participation.
Definition of "Minority-owned Business" as a healthcare service provider
This definition connects "Minority-owned Business" to the medical and healthcare sector.
"Minority-owned Business" refers to a healthcare-focused business owned and controlled by individuals from minority groups, including medical practices, clinics, and suppliers.
Definition of "Minority-owned Business" as a manufacturing enterprise
This definition links "Minority-owned Business" to industrial production.
"Minority-owned Business" means a manufacturing company that is at least 51% owned, operated, and controlled by minority individuals and meets industry diversity standards.
Definition of "Minority-owned Business" as a professional services firm
This definition applies "Minority-owned Business" to consulting and advisory industries.
"Minority-owned Business" refers to a professional services firm, including legal, financial, and management consulting, that qualifies as minority-owned under relevant certification programs.
Definition of "Minority-owned Business" as a financial institution
This definition ties "Minority-owned Business" to banking and financial services.
"Minority-owned Business" means a financial institution, including banks and investment firms, that is primarily owned and operated by individuals from recognized minority groups.
Definition of "Minority-owned Business" as a hospitality industry enterprise
This definition connects "Minority-owned Business" to hotels, restaurants, and tourism.
"Minority-owned Business" refers to a business in the hospitality sector, such as hotels, restaurants, or travel services, that is majority-owned by minority individuals.
Definition of "Minority-owned Business" as an educational services provider
This definition links "Minority-owned Business" to the education sector.
"Minority-owned Business" means a business providing educational services, including training centers, tutoring, and academic institutions, that is owned and controlled by individuals from minority groups.
Definition of "Minority-owned Business" as an entertainment and media company
This definition applies "Minority-owned Business" to creative industries.
"Minority-owned Business" refers to a company in the entertainment, media, or publishing industries that is at least 51% owned and operated by minority individuals.
Definition of "Minority-owned Business" as a renewable energy provider
This definition ties "Minority-owned Business" to sustainability and clean energy.
"Minority-owned Business" means a company engaged in renewable energy production or services that meets minority ownership and certification requirements.
Definition of "Minority-owned Business" as a government-certified enterprise
This definition ties "Minority-owned Business" to official certification.
"Minority-owned Business" means a business that has been officially certified by a governmental or independent agency as being at least 51% owned, controlled, and operated by individuals from a recognized minority group.
Definition of "Minority-owned Business" as a participant in supplier diversity programs
This definition connects "Minority-owned Business" to corporate supplier initiatives.
"Minority-owned Business" refers to a business that qualifies for supplier diversity programs by maintaining at least 51% ownership and control by individuals from underrepresented racial or ethnic backgrounds.
Definition of "Minority-owned Business" as an entity eligible for federal contracts
This definition links "Minority-owned Business" to special contracting opportunities.
"Minority-owned Business" means a business that meets the eligibility requirements for federal, state, or local government contracts reserved for businesses owned and controlled by individuals from minority communities.
Definition of "Minority-owned Business" as a promoter of economic inclusion
This definition applies "Minority-owned Business" to broader economic impact.
"Minority-owned Business" refers to an entity primarily owned and operated by individuals from historically marginalized racial or ethnic groups, contributing to economic inclusion and community development.
Definition of "Minority-owned Business" as a small business development initiative
This definition ties "Minority-owned Business" to entrepreneurship programs.
"Minority-owned Business" means a business that qualifies for minority entrepreneurship programs, grants, and incentives based on its ownership and operational structure by individuals from recognized minority groups.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.