Becoming a certified Minority/Women-owned Business Enterprises (MWBE) can be a great way to get new business opportunities within your industry.
New York State requires that 30% of all projects must be performed by certified Minority or Women Owned businesses. Having MWBE certification will put you on a NYS Directory of Certified MWBE list, enabling state agencies/authorities, prime contractors, vendors, municipalities, subcontractors, and the private sector to view your business as well as others that are certified. Your company will also have access to a variety of loan and bonding programs as well as programs that provide technical assistance.
Who qualifies as a MWBE company?
To be certified as a minority or women-owned business you must be an independently owned and operated business authorized to do business in NYS that is at least 51% owned and controlled by a minority member or a woman. That means the principal owner (whether minority or woman) must have knowledge of the day-to-day practices of the business and have a vested interest.