What is a Diverse Business?

Woman-Owned Business

According to the Women’s  Business Enterprise  National Council, the applicant company must be at least 51 percent owned and controlled by one or more women who are U.S. citizens or lawful permanent residents,or in the case of any publicly-owned business, at least 51 percent of the equity of which is owned and controlled by one or more women who are U.S. citizens or lawful permanent residents; and whose management and daily operation is controlled by one or more of the women owners.

Minority-Owned Business

According to the National Minority Supplier Development Council, a minority-owned business is a business that is at least 51 percent owned by one or more minorities or, in the case of a corporation, a partnership or limited liability company or other entity, at least 51 percent of the equity ownership interest in which is owned by one or more minorities and whose management and daily business operations are controlled by one or more of such individuals.

Veteran-Owned Business

The United States Department of Veteran Affairs classifies a veteran-owned business as any business which a minimum of 51 percent of the voting stock is owned and controlled by one or more veterans. A veteran individual or group must control the policy-making process and direct the daily operations of the firm. If the business is publicly owned, veteran group members must control a minimum of 51 percent of the voting stock and must direct the management and daily business operations.

Firms must be certified by a third-party certifying organization before they can be verified as a Diverse Business. Visit our certifications page to learn more.