A Diverse Business must be at least 51% owned, operated, and controlled on a daily basis by an individual or group that is part of a traditionally underrepresented or underserved group, self-identifying in one or more of the following groups: Asian, Pacific Islander, Black, Hispanic/LatinX, Indigenous, other person of color, LGBTQ, women, person with a disability*, or military veteran (collectively “Diverse Business”).
A Diverse Business must have each of the following characteristics:
- Unconditionally and directly own, operate, and control on a daily basis at least 51% of the business.
- This ownership may not be through another business entity.
- In case of a publicly-owned business, at least 51% of the voting stock is owned by one or more diverse group members.
- Outside the U.S., disclosure of ethnicity is voluntary, per privacy policy, not a requirement.
1 A person with a disability is defined as a person who has a physical or mental impairment that substantially limits one or more major life activity.
