Do you know what these designations are? They are designations by your state to separate your business from others.
SBE- Small Business Enterprise – This means your business is smaller than a regular-sized business or corporation in its field. Your business only employs a certain number of people and only makes a certain amount of money. The standards for each state are different.
MBE- Minority Business Enterprise – Your business is owned by at least 51% minority owners. For most states, this standard is the same.
WBE – Women Business Enterprise – Your business is owned by at least 51% female owners. For most states, this standard is the same as well.
These designations are very helpful and can assist with your company’s growth. Very often these designations are recognized when trying to obtain government contracts, grants, funding, etc. Visit your state website today or contact us and we can help you with the process!