The Small Business Administration (SBA) defines a minority-owned business as “a business that is 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 is owned by one or more minority individuals.” The federal government leverages its state partnerships to help provide a level playing field to those who, historically, have lacked access to capital or business opportunities. Through contracting certification and business development programming, minority-owned business become solid competitors in the federal and state marketplace. Each state maintains a current listing of these certified and vetted businesses. These listings are viable references to use when looking to hire or contract with minority-owned businesses.
