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To be eligible for certification as a minority- or women-owned business, a firm must be at least 51 percent independently owned and controlled by the minority members or women. 

MWBE firms are in high demand in the current economy. This is particularly true here in New York, where the state has set its MWBE contract utilization goal to 30%. 

This goal is part of the state’s work to promote equality of economic opportunities for MWBEs, and to eliminate barriers to their participation in state contracts.

Each minority or woman owner upon whom certification is based cannot have a personal net worth exceeding $3.5 million after allowable deductions. 

For each minority or woman owner upon whom certification is based, mandatory documents are required, including current personal federal and state taxes, a personal net worth affidavit and an auto calculation net worth worksheet.

The firm must operate independently of other firms, must demonstrate it is an active business and, generally, the business must be in operation for at least one year.