A majority of minority, women and veteran-owned business owners are not aware that there are billionaire companies out there looking to do business with them. These billionaire companies include the U.S. federal government and large corporations.

Actually, many people don’t know that government agencies and large corporations buy every type of product and service on the planet. Yes, they even buy toilet paper too! They also purchase office supplies, computer equipment, training seminars, pay-per-click advertising services, and more.

And these billionaire companies have gigantic budgets, and are REQUIRED to give a certain percentage of their projects to minority, women, and veteran-owned businesses. This also applies to Corporate America, i.e., the big box retailers. Whenever these companies are given federal dollars, they are also required to give a certain percentage of their projects to minority, women and veteran-owned businesses.

But the sad part is that many minority, women and veteran-owned businesses are not even aware that these opportunities exist.

In today’s article, we will look at the world of MBE, WBE, and VBE certifications. Specifically, we will look at the numerous types of certifications and how to use those certifications to land your own billionaire clients who always pay on time.

MBE Certification Is?

MBE is an abbreviation for “minority business enterprise.” MBE certification is a form of business certification that can be attained by any business that is 51% owned, controlled, and operated by a minority or minorities. The term “minority” includes African American, Asian American, Hispanic American and Native American.

WBE Certification Is?

WBE means “woman business enterprise”. WBE certification is a type of business certification that can be achieved by any business that is 51% owned, controlled, and operated by one or more women.

What Does VBE Certification Mean?

VBE is an abbreviation for “veteran business enterprise”. VBE certification is a type of business certification that can be attained by any business that is 51% owned, controlled, and operated by one or more veterans.

A MBE, WBE and/or VBE certification allows government agencies and Corporate America know that your business has met the required ownership threshold. It also makes them aware that if they award business to you, that it will assist them to meet their requirements for working with minority, women and veteran-owned businesses.

But numerous certifications exist. So, it can be very confusing on what certification you need.

So let’s take a closer look at some of the levels of certification and how to obtain them. We’ll also look at the ways to use each certification to grow your business with billionaire clients.

Four different levels of certifications exist:

Certifications On The Federal Level

Most of the times federal certifications are misunderstood certifications depending upon if you are a woman and/or veteran-owned business.

For a federal WBE certification, it is essentially a “self-certifying” process, which means that if you state you are 51% owned, controlled, and operated by a woman, they will accept your word for it. If you then later receive a contract, they may ask you to provide proof of this fact, so don’t say you are if you are not. The great news though is that you don’t have to wait on the WBE certification – you can get started doing business with the federal government immediately.

But what if I am a veteran business owner, where do I go? If you are a veteran business owner then the Center for Veteran Enterprises of the US Department of Veteran Affairs is the governing agency. The Center designates whether your business is 51% or more owned, controlled and operated by one or more service-disabled veterans or veterans.

The federal government has mandatory goals for awarding no less than 5% of their contracts to woman-owned businesses and no less than 3% of their contracts to veteran-owned businesses. Thus, if you are a WBE or VBE, you should look a little closer for special projects that are set-aside only for women and veteran-owned businesses. And this is in addition to all of the other projects that they have available for any type of business.

State MBE/WBE Certifications

State MBE and/or WBE Certifications can be obtained in many states through a state certifying office. You should obtain a state certification if you wish to increase your chances of getting business from one or more state government agencies.

To obtain a state MBE and/or WBE certification, you should then contact the certifying office in the state in which you want to be certified. Many states have a MBE and/or WBE certification program, but some of them do not.

We have created an index of state certifying offices that you can review as a starting point on our Business Thrival web site. However, please note that these links may change from time to time, so please feel free to use this index as a starting point as to what certifications may be available in your state.

Where To Obtain A Local MBE, WBE and/or VBE Certification

If you want to increase your chances of getting business from a particular local agency, such as the city where your business is located, you should obtain a local certification from your local government certifying office.

For instance, in the past, we have used our WBE certification to help obtain contracts with the City of Indianapolis.

What Is A National MBE or WBE Certification

In general, national MBE or WBE Certifications are needed when you want to have large corporations as clients. Some large corporations will accept either a National Certification or a State Certification, so before you rush out and get a National Certification, you would first want to see what the corporations that you want as clients require. Large corporations usually have a section on their web site called “Supplier Diversity”, and this program talks about what they look for and require.

To get a National Certification as a woman-owned business, you need to file an application with the Women Business Enterprise Council. WBENC is an organization that processes WBE certifications on a national level.

To get a National Certification as a minority-owned business, you need to file an application with the National Minority Supplier Development Council. NMSDC is an agency that processes MBE certifications on a national level.

Overall, if you want to work with government agencies or Corporate America, it is definitely worth considering these business certifications.

To learn more about business growth and how to become a better entrepreneur, download my free 47 page “Business Thrival Blueprint“. BusinessThrival.com is a site dedicated to helping business owners achieve a thriving business and life.

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