The National Minority Supplier Development Council (NMSDC) defines a minority business enterprise (MBE) as a for-profit business that is at least 51% owned, managed, and controlled by a member(s) of a qualified minority group. To be considered a member of a qualified minority group, a person must be a United States citizen who is Asian-Indian, Asian-Pacific, Black, Hispanic, or Native American. Ownership by qualified 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.
