Minority business enterprises (MBEs) 101: What qualifies as one, how to get certified, and why they’re important
Shayla Fleischman
June 9, 2021
Entrepreneurship is necessary for our economy. According to the Minority Business Development Agency, 15% of businesses in the United States were startups in the late 1970s. That number has dropped to only 8% in recent years. The National Minority Supplier Development Council (NMSDC) states that 50% of the U.S. population will be made up of minorities by 2050. Minority business enterprises (MBEs) have generated over $400 billion, created and preserved 2.2 million jobs, and contributed $49 billion in local, state,