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Minority-Owned Business Enterprise (MBE),
Women-Owned Business Enterprise (WBE)
Terms & Definitions |
Minority-owned business enterprise (MBE)
MBE, means a local business enterprise which is at least 51% owned by one or more economically disadvantaged minority persons, or, in the case of a publicly held corporation, at least 51% of all classes of the stock of which is owned by one or more economically disadvantaged minority persons, and whose management, policies, major decisions and daily business operations are independently managed and controlled by one or more economically disadvantaged minority persons.
Women-owned business enterprise (WBE)
WBE, means a local business enterprise which is at least 51% owned by one or more economically disadvantaged women, or, in the case of a publicly held corporation, at least 51% of all classes of the stock of which is owned by one or more economically disadvantaged women, and whose management, policies, major decisions and daily business operations are independently managed and controlled by one or more economically disadvantaged women.
Certification
Certification means written evidence of approval of the status of a local firm as a MBE or WBE issued by the one of the following agencies:
- City of Chicago
- County of Cook
- Board of Education
- Chicago Transit Authority
- Metropolitan Water Reclamation District
- Chicago Minority Business Development Council
- Central Management Service of the State of Illinois
- METRA
- Women’s Business Development Center
Local means located within the six-county metropolitan Chicago region.
Minority Group
Minority Group means any of the following racial or ethnic groups:
- African-American or Blacks - persons having origins in any of the Black racial groups of Africa
- Hispanics which includes persons of Spanish culture with origins in Mexico, Central or South America, or the Caribbean Islands, regardless of race; and
- Individuals, of any race, ethnic group, or cultural background, including but not limited to Asian-Americans, Arab-Americans, and Native Americans, found by the city to be socially disadvantaged by having suffered racial or ethnic prejudice or cultural bias within American society, resulting in decreased opportunities to compete in Chicago area markets or to do business with the city.
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