QUALIFICATION CRITERIA AND BENEFITS OF MINORITY & WOMEN OWNED BUSINESS
Can anyone provide detail on the specific qualification criteria and benefits of getting certified as a minority & women owned business as it relates to search acquisitions?
Per Funding Circle, "To qualify as a WBE, your business must be for-profit and at least 51 percent women-owned and controlled. That means a woman can’t just have majority ownership — she also has to be responsible for the day-to-day decision-making and long-term direction of the company. Individuals who apply also need to be U.S. citizens, and have been in business for about a year before applying."
How is day-to-day decision making determined? Does the time-in-business requirement reset post acquisition? and finally - is it worth it? Seems like a tedious process to be certified and not sure what benefit it confers.