At EQT, a diverse business is defined as a certified or classified business that meets one or more of the following criteria:
Minority Business Enterprise (MBE)
A Minority Business Enterprise is a for-profit enterprise, regardless of size, physically located in the United States or its trust territories, which is owned, operated and controlled by minority group members. "Minority group members" are United States citizens who are Asian, African American, Hispanic and Native American. Ownership by minority individuals means the business is at least 51 percent owned by such individuals or, in the case of a publicly-owned business, at least 51 percent of the stock is owned by one or more such individuals. Further, the management and daily operations are controlled by those minority group members.
Woman Business Enterprise (WBE)
A Woman Business Enterprise is an independent business concern that is at least 51 percent owned and controlled by one or more women who are U.S. citizens or Legal Resident Aliens; whose business formation and principal place of business are in the US or its territories; and whose management and daily operation is controlled by one or more of the women owners.
Small Business
The U.S. Small Business Administration (SBA) defines a business concern as one that is organized for profit; has a place of business in the U.S.; operates primarily within the U.S. or makes a significant contribution to the U.S. economy through payment of taxes or use of American products, materials or labor; is independently owned and operated; and is not dominant in its field on a national basis. Business must also meet the size standards as set by the SBA.
Veteran Owned Small Business
A small business concern that is:
(A) not less than 51 percent of which is owned by one or more veterans or, in the case of any publicly owned business, not less than 51 percent of the stock of which is owned by one or more veterans; and
(B) the management and daily business operations of which are controlled by one or more veterans.
Service Disabled Veteran Owned Small Business (SDVOSB)
SDVOSB refers to a “small business concern owned and controlled by service-disabled veterans.” To be considered a SDVOSB, a business must meet the following criteria:
(A) not less than 51 percent is owned by one or more service-disabled veterans or, in the case of any publicly owned business, not less than 51 percent of the stock is owned by one or more service-disabled veterans; and
(B) the management and daily business operations are controlled by one or more service-disabled veterans or, in the case of a veteran with permanent and severe disability, the spouse or permanent caregiver of such veteran.
Small Disadvantaged Business
A small business that must be at least 51 percent owned and controlled by a socially and economically disadvantaged individual or individuals. African Americans, Hispanic Americans, Asian Pacific Americans, Subcontinent Asian Americans, and Native Americans are presumed to qualify. Other individuals can qualify if they show a "preponderance of the evidence" that they are disadvantaged.
Hub Zone Certified Business
A historically underutilized business zone that is an area located within one or more qualified census tracts, qualified non-metropolitan counties, or lands within the external boundaries of an Indian reservation, and that appears on the "List of Qualified HUB Zone Small Business Concerns" maintained by the SBA.