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Procurement > Supplier Diversity > Defining Diverse Businesses

Defining Diverse Businesses

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.

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.