The Benefits of Being A Minority-Owned Business with Certification
The process of becoming certified as a minority-owned business for the purposes of participating in special programs like those offered by the DOT and the SBA’s ) are significant, but the benefits of being a minority-owned business with certification are significant too. From federal and government agencies to private corporations, there are many organizations that want to do business with minority-owned businesses and would even prefer to do so. Certification may provide your business with opportunities it might not otherwise be able to compete for.
Many federal government agencies are even mandated to reward a substantial number of contracts to certified minority-owned businesses. For example, the U.S. Department of Transportation requires that at least 10 percent of the money spent on contracts for certain projects go to businesses that are minority-owned, and entities (such as state transportation agencies) that receive DOT funding are required to develop Disadvantaged Business Enterprise (DBE) programs to ensure compliance.
The Department of Transportation (DOT) is dedicated to serving our
community, including those businesses contracting with state agencies
and recipients of DOT funds. The Department's Disadvantaged Business
Enterprise (DBE) program is designed to remedy ongoing discrimination
and the continuing effects of past discrimination in federally-assisted
highway, transit, airport, and highway safety financial assistance
transportation contracting markets nationwide. The primary remedial goal
and objective of the DBE program is to level the playing field by
providing small businesses owned and controlled by socially and
economically disadvantaged individuals a fair opportunity to compete for
federally funded transportation contracts.
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