Minority Business Enterprise (MBE) Definition
Term Definition
A minority business enterprise is a business or other legal entity that engages in commercial activity that is at least 51 percent owned and controlled by a minority person as defined by the U.S .government.
Extended Definition
To be defined as a minority business enterprise, the business must establish ownership as real, substantial, and continuing. This may entitle the business to various perks, opportunities to bid on new projects before other companies, additional funding sources, or certain tax breaks in some states.