| Lexeme: |
minority business enterprise certification
Very Rare (0.01)
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| Definition: |
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noun. Minority Business Enterprise (MBE) certification is a designation provided by a government or private organization to businesses that are owned, operated, and controlled by individuals or groups from specific socially or economically disadvantaged backgrounds. These backgrounds typically include racial or ethnic minorities, women, veterans, or disabled individuals.
MBE certification is often required or preferred in various government contract bidding processes or supplier diversity programs. It aims to promote diversity and equal opportunities in business by helping minority-owned businesses access resources, mentorship, funding, and contract opportunities that can contribute to their growth and success. The certification process involves verifying the ownership and control of the business by individuals from the designated minority groups. GPT3.5
Word Forms:
- noun.
minority business enterprise certification (singular),
minority business enterprise certifications (plural)
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