As an official Minority-Owned Business Enterprise (MBE), Waxx Productions LLC is able to engage in business relationships with corporations, government, and public sector enterprises in New York City which have been specially empowered to offer opportunities to Minority-Owned suppliers.
What is a Minority-Owned Business Enterprise (MBE)?
A for-profit enterprise, regardless of size, physically located in the U. S. or its trust territories, which is 51% owned, managed, operated and controlled by an ethnic minority or a group of ethnic minorities on a day-to-day basis.
What is an ethnic minority?
An ethnic minority is an individual whose origin or heritage is of or from:
- any of the Black racial groups of Sub-Sahara Africa (African-Americans)
- any of the Spanish speaking countries of Latin America, Mexico, Central America, South America, the Caribbean and Brazil (Afro-Brazilian and Brazilian Indians only) (Hispanic-Americans)
- American Indian, Eskimo, Aleut or Native Hawaiian (Native Americans). Native Americans must be documented members of a North American tribe, band or organized group of native people indigenous to the continental U.S.
- Bangladesh, Cambodia, China, Guam, India, Indonesia, Japan, Korea, Laos, Malaysia, Pakistan, the Philippines, Samoa, Thailand, Sri Lanka, Taiwan, the U.S. Trust Territories of the Pacific or the Northern Marianas and Vietnam. (Asian Americans, Pacific Islanders, Asian Indian Americans)
What is the definition of ownership as being 51% owner?
The minority owner shall possess the power to direct or cause the direction of the management and policies of the business and to make the day-to-day decisions as well as major decisions on matters of management, policy, and operations. It is the actual management of the business of those persons who have the ultimate power to hire and fire the managers. The minority owner should also carry a high rank in title as in CEO, President, etc.
Which groups are not considered ethnic minorities?
Individuals whose origins or heritage are of or from:
- Iberian Peninsula (Spain, Portugal)
- Asia Minor Region (Peninsula between the Black Sea and the Mediterranean)
- Persian Gulf (Iran, Iraq, Saudi Arabia, etc.)
- Northern Africa (Egypt, Libya, Morocco, Algeria, etc.)