Purchasing Resources for Minority-Owned Business Organizations
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Regardless of where you are in the world, if you are conducting business you are probably conducting it with consumers from many cultural backgrounds. This is the face of today's global economy. Minority-owned business organizations are a magnet to the minority consumer that appreciates the fact that owners of a company are not only concerned with the popular majority, but also understand their unique needs and preferences.
Obtaining status as a minority-owned business can have many financial perks for your company. There are a number of public and private sector programs that target minority-owned companies, and some of them are legally obligated to award a certain percentage of their contracts or funding to these businesses. To obtain legal status as a minority-owned business, at least 51% of your company must be owned, operated, and managed daily by one or more persons of African-American, Hispanic-American, Asian-American, or Native American descent, and these persons must be American citizens.
If you are a minority-owned business seeking certification, or a company looking to work with a certified minority-owned business, there are a number of organizations to contact including the National Minority Business Council Inc., the Minority Business Development Agency, and the National Minority Supplier Development Council (NMSDC).
For more information on minority-owned business organizations please refer to the many links and resources at Business.com.