Publicly owned businesses may also qualify, but minorities or women must control more than 50 percent of the stock offerings. MWBEs are companies with minorities or women controlling 51% of the firm's operations. That said, many states align with federal statutes related to business that define “minority” as people who are African-American, Alaskan Native, American Indian, Asian-American, or Hispanic. How to Get the MWBE CertificateĪs mentioned above, many states offer MWBE programs, and the certification process differs from state to state. Not only does this help diversify and strengthen the supply chains for those companies, but it can also lead to innovation across the board. Why might other companies seek out MWBEs to work with? Many larger companies actually have supplier diversity programs to promote opportunities for diverse suppliers (e.g. United States map depicting states in green that offer free certification applications Why Businesses Work with MWBEs The benefits vary by state, but overall, MWBE certification gives businesses the ability to reach a broader network of customers, contracts, and resources. Additionally, some states offer development workshops, training, and courses to those businesses. Small business owners may also participate in conferences and networking events through the MWBE program. Related Article: When Should a Growing or Small Business Offer Employee Benefits? If someone needs a graphic design agency for their website and they want to work with an MWBE, they can find you on the list. This list is publicly accessible, so you get greater visibility and exposure to other companies, too. The benefits vary by state, but overall, MWBE certification gives businesses the ability to reach a broader network of customers, contracts, and resources.Ĭertified businesses are also added to the state’s list of MWBEs. If your company makes soap, you might be in the running to supply soap to a state office facility. If you have a catering company, for example, you might have the opportunity to cater a treasury lunch. This can help your business get government contracts that may not have been accessible before. By giving these businesses access to development assistance, they’ll have more opportunities and resources at their disposal. Firstly, it gives a leg up to businesses that otherwise might not have the ability to compete with bigger players. There are many benefits to obtaining the MWBE certification. Related Article: Learning by Doing: How and Why Justworks Compensates our ERG Leads The Benefits of Getting Certified ![]() ![]() There are also a number of existing certification programs that are run by federal and local government agencies, and private organizations. and Puerto Rico, have state-level MWBE development programs. In either case, it’s a certification issued by the state that provides developmental benefits to these businesses. In some states, the two may be treated separately, and you may see MBE or WBE instead. MWBE stands for Minority/Women-owned Business Enterprises. Explore Now What is an MWBE certification?
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