|
The Small Business Act (Section 3) states that a small business concern is one that is independently owned and operated (by one or more
U.S. citizens), not dominant in its field of operation, and smaller than a given size as measured by its employment, business receipts, or
business assets. The definition will vary from industry to industry to reflect industry differences. Please refer to Code of Federal Regulations,
Title 13, Part 121, for detailed definitions.
Small Disadvantaged Business Concern (SDB)
A small disadvantaged business is a small business concern that is 51% or more owned, controlled, and operated by one or more persons
(U.S. citizens) who are socially and economically disadvantaged. Such business must receive SBA certification as a small disadvantaged
business consistent with Code of Federal Regulations, Title 13, Part 124.
Historically Underutilized Business (HUB) Zone Small Business Concern
A business concern located in a 'Historically Underutilized Business Zone’ is a business (except tribally-owned concerns) certified by SBA
as meeting the following criteria:
(1) A small business by SBA standards;
(2) Owned and controlled at least 51% by U.S. citizens, or a Community Development Corporation, or an agricultural cooperative or an
Indian tribe;
(3) Its principal office is located within a HUBZone;
(4) At least 35% of its employees must reside in a HUBZone.
Women-Owned Small Business Concern (WOSB)
Women-owned small business concern means a small business concern - (a) which is at least 51 percent owned by one or more women
(U.S. citizens); or, in the case of any publicly owned business, at least 51 percent of the stock of which is owned by one or more women
(U.S. citizens); and (b) whose management and daily business operations are controlled by one or more women.
A veteran is a person who served in the active military, naval, or air service, and who was discharged or released under conditions other than
dishonorable (Title 38 of the U.S.C., section 101 (2)).
Veteran-Owned Small Business Concern (VOSB)
A small business concern that is at least 51 percent owned by one or more veterans, or in the case of any publicly owned business, at
least 51 percent of the stock is owned by one or more veterans (U.S. citizens), and whose management and daily business operations are
controlled by one or more veterans.
Service-Disabled Veteran (SDV)
A veteran with a "service-connected" disability, which is a disability that was incurred or aggravated in the line of duty in the active military,
naval, or air service (Title 38 of the U.S.C., section 101 (16)).
Service-Disabled Veteran-Owned Small Business
Concern (SDVOSB)
A small business concern that is at least 51 percent owned by one or more service-disabled veterans, or in the case of any publicly owned
business, at least 51 percent of the stock is owned by one or more service-disabled veterans (U.S. citizens), and whose management and
daily business operations are controlled by one or more service-disabled veterans or a permanent caregiver of a service-disabled veteran
with permanent and severe disability.
The National Minority Supplier Development Council provides the following definitions regarding minority-owned businesses.
A minority-owned business is a for-profit enterprise, regardless of size, physically located in the United States or its trust territories,
which is owned, operated and controlled by minority group members (see definitions below). Ownership by minority individuals means the
business is at least 51% owned by such individuals or, in the case of a publicly-owned business, at least 51% of the stock is owned by one
or more such individuals. Further, the management and daily operations are controlled by those minority group members.
A minority group member is an individual who is a U.S. citizen with at least 1/4 or 25% minimum (documentation to support claim of
25% required from applicant) of the following:
Asian-Indian: a U.S. citizen whose origins are from India, Pakistan and Bangladesh.
Asian-Pacific: a U.S. citizen whose origins are from Japan, China, Indonesia, Malaysia, Taiwan, Korea, Vietnam, Laos, Cambodia, the
Philippines, Thailand, Samoa, Guam, the U.S. Trust Territories of the Pacific or the Northern Marianas.
Black: a U.S. citizen having origins in any of the Black racial groups of Africa.
Hispanic: 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 shall be listed under Hispanic designation for review and certification
purposes.
Native American: a person who is an American Indian, Eskimo, Aleut or Native Hawaiian, and regarded as such by the community of
which the person claims to be a part. Native Americans must be documented members of a North American tribe, band or otherwise
organized group of native people who are indigenous to the continental United States and proof can be provided through a Native American
Blood Degree Certificate (i.e., tribal registry letter, tribal roll register number).
Historically Black Colleges and Universities (HBCU)
Historically black colleges and universities are institutions of higher education in the United States that were established before 1964 with
the intention of serving the black community. The list of HBCUs is provided by the U.S. Department of Education.
Minority Institution (MI)
|