A minority business enterprise means a business entity in which more than 50% of the voting shares or interest in the enterprise is held by minority individuals. The minority ownership of the enterprise must also have more than 50% level of management, investment and control of the company.
A women’s business enterprise is a business which is more than 50% owned, controlled and operated by a woman or women. Controlled is defined as exercising the power to make policy decisions. Operated is defined as actively involved in the day-to-day management. For the purpose of this definition, businesses which are publicly owned, joint stock associates and business trusts are exempt.