What is Minority/Women Business Enterprise Certification?
State Minority Business Enterprise (MBE), Women Business Enterprise (WBE), and Disadvantaged Business Enterprise (DBE) Certifications are well-known programs to encourage the growth and opportunities for businesses that are socially and/or economically disadvantaged. This certification signifies that your business has gone through a rigorous and stringent certification process to confirm that the business is owned, managed, and controlled by either a minority, a woman, or a disadvantaged party. These certifications exist at the local, state, and federal level.
Being MBE/WBE certified increases opportunities to do business with cities, counties, school districts, hospitals, water management districts, certain private sectors, and quasi-government entities. These certifications also increase opportunities to engage in road, highway or bridge planning, design, construction or maintenance related goods and services.
What are the Benefits of Becoming Certified?
Increased Business Opportunity
Many organizations want to do business with minority owned businesses, from federal and government agencies to commercial and private corporations, this certification may provide your business with opportunities it otherwise would not be able to compete for.
Set Aside Contract Programs
Some states have "set-aside" programs that designate a percentage of government contracts to be awarded to businesses with these certifications. While not all states treat these as enforceable quotas, there are mandated programs in certain states that ensure certified minority-owned businesses receive a specified percentage of contracts.
Increased Funding Opportunity
In addition to increased business opportunities, these certifications open doors for special consideration in capital procurement through grant programs, SBA loans, and other venture capital avenues that give special consideration to MBE/WBE certified businesses.
Does my Business Qualify for MBE or WBE Certification?
In order to participate in/be considered for special opportunities you have to officially certified. This process can be a long and grueling endeavor. To begin, the criteria to qualify for these certifications is extensive and non-negotiable. The required documents are very specific and an accidental mistake can slow the process down significantly. In some instances, a site inspection is required.
The good news is that the experts here at Nationwide Contractor Licensing can assist through the entire process. Our team can perform a qualification analysis to ensure that your business will meet the requirements, saving you time and money. Once your analysis is complete, we can take care of everything from application processing through certification issuance. Give us a call at (954) 233-0222 or Request an Analysis today.