Veteran, Women & Minority Businesses

Minority Business Enterprises (MBE)

A Minority Business Enterprise (MBE) is defined as a business which is at least 51% owned, operated and controlled on a daily basis by one or more (in combination) American citizens of the following ethnic minority classifications:

• African American
• Asian American
• Hispanic American
• Native American

According to the U.S. Census Bureau, in 2002, there were 1.2 million black-owned firms in the U.S., employing nearly 754 thousand persons and generating nearly $89 billion in business revenues. These black-owned firms accounted for 5.2 percent of all non-farm businesses in the U.S., 0.7 percent of their employment, and 0.4 percent of their receipts.  That same year, there were 1.1 million Asian-owned non-farm businesses in the U.S., employing over 2.2 million persons and generating more than $326 billion in business revenues. Asian-owned firms accounted for 4.8 percent of all nonfarm businesses in the U.S., 2.0 percent of their employment and 1.4 percent of their receipts.  Hispanics owned 1.6 million nonfarm U.S. businesses in 2002, employing 1.5 million persons and generating $222.0 billion in business revenues. These Hispanic-owned firms accounted for 6.8 percent of all non-farm businesses in the United States, 1.4 percent of their employment and 1.0 percent of their receipts.  Native Americans owned nearly 201,400 non-farm U.S. businesses in 2002, employed about 191,300 persons, and generated $26.9 billion in business revenues. These American Indian- and Alaska Native-owned firms accounted for 0.9 percent of all non-farm businesses in the United States, almost 0.2 percent of their employment, and more than 0.1 percent of their receipts. 

Women-Owned Businesses

Women-Owned Small Businesses are companies that are at least 51 percent owned by one or more women; or in the case of any publicly owned business, at least 51 percent of its stock is owned by one or more women; and whose management and daily business operations are controlled by one or more women.  In 2002, Women owned 6.5 million non-farm U.S. businesses in 2002, employing 7.1 million persons and generating $939.5 billion in business revenues. These women-owned firms accounted for 28.2 percent of all non-farm businesses in the United States, 6.4 percent of their employment and 4.2 percent of their receipts. In comparison, in 2002 there were 23 million non-farm U.S. businesses, employing 110.8 million persons and generating $22.6 trillion in business revenues.

Veteran-Owned Businesses

A military career is one of most demanding a person can face.  The skills taught to young soldiers and the hardships they learn to overcome provide them with the drive and determination needed to be a successful entrepreneur.  Government and business community recognize these traits and have developed a network of programs, training, education, counseling and financing especially for veterans who desire to start their own business.  Veterans also have unique opportunities with regard to government contracts.

Moreover, owning a franchise operation is now more affordable for veterans, thanks to a program initiated by the former Secretary of Veterans.  The Veterans Transition Franchise Initiative, commonly known as "VetFran," is a voluntary program of the International Franchise Association through which honorably-discharged veterans are allowed financial incentives to acquire a franchised small-business.

How We Serve Our Clients

Women, minority, and veteran-owned businesses not only account for a significant percentage of all businesses in the United States, they have unique opportunities not available to other organizations.  These opportunities include special incentives, loans and other financing, government contracts, and special assistance from federal, state, and local governments.  Working closely with your organization and accountant, we will assist you in navigating through the bureaucratic red tape to ensure that your business makes the most of these unique opportunites with a view to achieving your mission.