However, if a business wants its operation to be formally recognized as a minority-owned business or enterprise, it should seek to get an official certification. This shows first that the business is credibly established and second that it is ready to work with large public and private e...
If your business wants to connect with private-sector buyers, you’ll want to look into completing the NMSDC application process to become a minority-owned certified business, in this case, called an “MBE.” To qualify, your business should be at least 51% owned and operated by an ...
In addition to being a majority owner, a woman must also be a U.S. citizen, and it is recommended that she be in business for at least six months. If you meet these three main requirements as a business owner, you can begin the process of putting together your application. ...
Are you ready to be a business owner? Much goes into running a business, especially during the initial startup phase. Find out what it entails and see if you are willing to commit to it. If it seems daunting, don’t get discouraged. After all, there are other people doing it....
One way to determine the demand for your products or services is to explore the GSAForecast of Contracting Opportunities tool. The SBA’scontracting assistance programscan also help you identify opportunities that are applicable — especially if you’re a minority business owner. ...
Minority small business owners need ‘fair and accessible’ lending. Sounds great, right? But what is it?To the U.S. Department of Housing and Urban Development, fair lending “guarantees the same lending opportunities to everyone” by “prohibiting lenders from considering race, color, national ...
If You’re a Minority Business Owner Who Bills Clients Using Invoices, Cut Out the Wait and Start Getting Paid Right Away As a minority-owned business, cash flow is crucial to success. Invoicing is an important tool for increasing cash flow and ensuring that you get paid on time. Invoicing...
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This is generally every business owner’s highest interest. Ask yourself: How much revenue do I need to generate to cover all my expenses? Which products or services turn a profit, and which ones are sold at a loss? Price a product or service. When most people think about pricing, they...