What is MBE Certification?
Process that a business enterprise claiming to be a minority-owned business must undergo to verify the company's 51% ownership by a minority or group of minorities that are US-citizens, and owned, managed and operated on a daily basis by the minority of group of minority owners.
What is the practical purpose of MBE certification?
Although MBE certification does not entitle or guarantee your company will receive any corporate or government contracts, MBE certification is a marketing tool that can help your business better compete for contracts in both the private and public sectors. Major corporations include supplier diversity as a core business strategy, and use certification as a tool to validate and hire qualified minority businesses. Supplier diversity programs require valid MBE certification to receive credit toward supplier diversity goals. Plus, the federal government has a requirement that a minimum of 23% of total acquisition dollars (estimated at the trillions of dollars) are ‘set aside’ and must be spent with small businesses. To help reach this 23% goal, the federal government has special stipulations in place that help certified MBEs compete for contracts with the federal government.
Why obtain MBE certification through SCMBDC?
Process - SCMBDC, through the National Minority Supplier Development Council, follows a standardized procedure of certifying minority-owned business to ensure consistent and identical review and validation of minority-owned businesses. These strict guidelines ensure SCMBDC certification is accepted and generally required by many of the largest publicly-, privately and foreign-owned companies, as well as universities, hospitals and other buying institutions.
Memoranda of Understanding with the City of Los Angeles – The City of Los Angeles along with its agencies, accept SCMBDC MBE certification.
Databases - MBEs gain exposure by being in the National Minority Supplier Diversity Council's (NMSDC) database accessed by more than 3,500 corporate members. Our MBEs also have access to our local database of 200 corporate members. In addition, corporate members can query the database any time to find suppliers that fit their needs, or contact the council for more specific needs.
What are added benefits of obtaining MBE Certification through SCMBDC?
Priority access to the events and programs below: