Benefits of Becoming a Certified Minority-Owned Business

A graduate of Pacific Oaks College with a master of science in human development, Bhawna Patkar has established herself as a capable Silicon Valley business leader. Since 2015, Bhawna Patkar has served as chief executive officer of Ziphawk rideshare service and Idenica Inc., both minority-owned businesses which she founded.

As the name implies, a minority-owned business indicates a company that is at least 51 percent owned, operated, and controlled by at least one United States citizen with an ethnic background of at least 25 percent Native American, Black, Hispanic, Asian-Pacific, or Asian-Indian. The designation was created to increase opportunities and exposure for such business owners, as well as to create a network of supportive professionals.

Minority business owners can apply for two types of certification, a federal government certification through the Small Business Administration or a private sector certification through the National Minority Supplier Development Council. In addition to creating a sense of community, a minority-owned business designation can help business owners secure contracts with large corporations, increase their market opportunities, and gain access to government contracts earmarked for qualified minorities.