Minority Business Certification Benefits
Federal, state and local governments have established
several programs to assist disadvantaged groups thrive and
grow in business. Therefore many
businesses seek out minority, women owned and veteran
business certification (hereinafter “Certified
Businesses”) and status to take advantage of these special
programs and benefits.
-
Grants and Loans: Grants and
funding are provided to help get Certified Businesses
off the ground
and operating. Many financing opportunities will only
exist for Certified Businesses. For example, the
Small Business Administration finances loans made to
Certified Businesses.
-
Contracts: Certified
Businesses are favored when it comes to submittal of
bids for certain special
and government contracts.
-
Supplier: Government
agencies and Fortune 1000 businesses acknowledge
Certified Businesses as
official minority business suppliers.
-
Considerations: Often local,
state and federal governmental agencies must recognize
Certified
Businesses in order to allow them to take advantage of
special funding appropriately.
-
Corporation Benefits: Many
Fortune 1000 and smaller businesses solicit business
relationships
from Certified Businesses. It helps large corporations
and other businesses in the community
enhance their image.
-
Resources: Being a woman,
disadvantaged or minority certified business allows you
to be registered
in multiple resources where your potential business
customers are able to learn about your business
so it results in publicity and good will.
|