Diverse Business Classifications

Minority-Owned Business

The term "minority-owned business" shall mean a business that is (1) at least 51 percent owned by one or more minority individuals or in the case of a publicly owned business, at least 51 percent of the stock of which is owned by one or more minority individuals and (2) whose management and daily business operations are controlled by one or more minority individuals. The term "minority" includes African American, Hispanic American, Asia Pacific American, Native American or Asian Indian American.

Woman-Owned Business

The term "woman-owned business" shall mean a business that is (1) at least 51 percent owned by one or more women or in the case of a publicly owned business, at least 51 percent of the stock of which is owned by one or more women and (2) whose management and daily business operations are controlled by one or more women.

Small Business Concern

The term "small business concern" shall mean a business defined pursuant to Section 3 of the Small Business Act (SBA) and relevant regulations issued pursuant thereto. Generally, this means a small business concern organized for profit, which is independently owned and operated, is not dominant in the field of operation in which it is bidding and meets the size standards as prescribed in government regulation. Consult your regional or district SBA office if further clarification is needed.

Small Disadvantaged Business Concern

The term "small business concern owned and managed by Socially and economically disadvantaged individuals" means a "small business concern" (1) which is at least 51 percent owned by one or more socially and economically disadvantaged individuals or in the case of any publicly owned business, at least 51 percent of the stock of which is owned by one or more socially and economically disadvantaged individuals and (2) whose management and daily business operations are controlled by one or more such individuals.

Lesbian, Gay, Bisexual and/or Transgender owned Business Enterprise (LGBTBE)

LGBT designated business enterprises are at least fifty-one percent (51%) owned, operated, managed, and controlled by an LGBT person or persons who are either U.S. citizens or lawful permanent residents; Exercise independence from any non-LGBT business enterprise; Have its principle place of business (headquarters) in the United States; and Have been formed as a legal entity in the United States.

Veteran Owned Small Business (VOSB)

VOSBs must be not less than 51 percent owned by one or more veterans (as defined at 38 U.S.C. 101(2)) or, in the case of any publicly owned business, not less than 51 percent of the stock of which is owned by one or more veterans; The management and daily business operations of which are controlled by one or more veterans.

Disabled Veteran Business Enterprise

51 percent owned, controlled and operated by disabled veterans. The home office must be located in the United States and the home office cannot be a branch or subsidiary of a foreign corporation, foreign firm or other foreign-based business. A Disabled Veteran is a veteran of the United States Military service with a service-connected disability of at least 10% or more.

Disabled Business Enterprise

51 percent owned, controlled and operated by a handicapped individual or service-disabled individual. A handicapped individual is a person who has a physical, mental or emotional impairment, defect, ailment, disease or disability of a permanent nature, which in any way limits the selection of any type employment for which the person would otherwise be qualified or qualifiable.

HUBZone Business Enterprise

Owned, controlled and operated by one or more U.S. citizens, who has a business located within a historically underutilized business zone and employs at least 35 percent of its workforce from residents of a HUBZone.

Historically Black Colleges and Universities (HBCU)

Institutions established prior to 1964 whose principal mission was, and is, the education of black Americans. These institutions must be accredited by a nationally recognized accrediting agency or association determined by the Secretary of Education.

Minority Institution (MI)

An institution of higher education whose enrollment of a single minority or a combination of minorities exceeds 50 percent of the total enrollment.

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