Getting Certified As A Minority-Owned Business
In an effort to encourage more minorities to get involved in business and industry, there are funding programs available for minority-owned businesses. To qualify for these funding programs, you need to take the time to get your small company certified as a minority-owned business.
Here are three tips that you can use to streamline the certification process.
1. Secure the right application forms.
Applying for certification as a minority-owned business requires that you fill out specific forms. Since these forms can vary based on the size of your company and the industry within which you operate, determining which forms you need can be daunting.
In order to avoid unnecessary delays in the certification process caused by an inaccurate or incomplete application form, you should work with your local National Minority Supplier Development Council (NMSDC) representative. There are many regional NMSDC council offices that you can partner with to successfully access the right forms for your application.
2. Gather the appropriate documentation.
Only companies that are headed by U.S. citizens qualify for certification as a minority-owned business. It's important that you have all the documentation required to prove the citizenship of your board members in place prior to beginning the application process.
Submitting birth certificates or U.S. citizenship documentation along with your initial application will help reduce the amount of time required to process your application, allowing you to gain access to the benefits of being a certified minority-owned business without delay.
3. Prepare for the on-site visit.
Once your application is submitted, a representative from the NMSDC will make a visit to your company's headquarters. The purpose of this visit is to verify the accuracy of the information you have provided on your application.
Be sure that you take the time to prepare both your office space and manufacturing space for the on-site visit. It can be beneficial to complete an internal audit prior to on-site visit in order to correct any discrepancies before they can sideline your application.
Being able to obtain certification as a minority-owned business could allow your company access to many exclusive rights and benefits. Obtaining this certification can be a daunting and grueling process, but it doesn't have to be impossible. Prepare yourself for the application process by securing the right forms from your NMSDC regional office, gathering citizenship documentation from all board members, and preparing in advance for the on-site visit to avoid delays in the processing of your application. To learn more, contact a company like Vantage Point Consulting, INC.