MBE meaning in Business ?

What is Minority Business Enterprise mean?

Minority business enterprise (MBE) is an American designation for businesses which are at least 51% owned, operated and controlled on a daily basis by one or more (in combination) American citizens of the following ethnic minority and/or gender (e.g. woman-owned) and/or military veteran classifications:

African AmericanAsian American or Pacific Islander (includes West Asian Americans (India, etc.) and East Asian Americans (Japan, Korea, etc.))Hispanic American - A U.S. citizen of true-born Hispanic heritage, from any of the Spanish-speaking areas of the following regions: Mexico, Central America, South America and the Caribbean Basin only. Brazilians (Afro-Brazilian, indigenous/Indian only) shall be listed under Hispanic designation for review and certification purposes.Native American, including Aleuts

According to the Minority Business Development Agency, minorities own more than 8 million firms, and account for nearly $1.4 trillion in revenues.

MBEs can self-identify, but are typically certified by a city, state or federal agency. Over $300 million were paid to many who self-identify as Cherokee.

reference