What is a diverse business?

What is a Diverse Business?

Syracuse University recognizes that there is a wide array of certifications related to business types available for classification.  The University allows our Suppliers to self-identify as to their business type, based on the following criteria.

Minority-Owned Business

A Minority Business Enterprise (MBE) is the denotation that is awarded to a business that are at least 51% owned by one or more minorities or, in the case of a corporation, a partnership or limited liability company or other entity, at least 51% of the equity ownership interest in which is owned by one or more minorities and whose management and daily business operations are controlled by one or more of such individuals.

 Woman-Owned Business

A Woman-owned Business Enterprise (WBE) is the denotation that is awarded to any business that is at least 51% owned and controlled by a woman or women who is a U.S. citizen(s) or legal resident alien(s), or in the case of a corporation, a partnership or limited liability company or other entity, at least 51% of the equity ownership interest in which is owned by one or more women, and whose management and daily business operations are controlled by one or more of such individuals.

 Veteran-Owned Business

A Veteran-owned business is a denotation that is awarded to any businesses in which at least51%  of the voting stock is owned and controlled by one or more veterans. A veteran individual or group must control the policy-making process and direct the daily operations of the firm. If the business is publicly owned, veteran group members must control a minimum of 51% of the voting stock and must direct the management and daily business operations.

Disability-Owned Business

A Disability-Owned business is a denotation that is awarded to any businesses that is at least 51% owned by one or more disabled persons, or in the case of a corporation, a partnership or limited liability company or other entity, at least 51% of the equity ownership interest in which is owned by one or more disabled persons and whose management and daily business operations are controlled by one or more of such individuals.

LGBTQ-Owned Business

A LGBTQ-owned Business is a denotation that is awarded to any businesses that is at least 51%, operated, managed, and controlled by a person or persons who identify as LGBTQ and are either U.S. citizens or lawful permanent residents or in the case of a corporation, a partnership or limited liability company or other entity, at least 51% of the equity