New York City Mayor Bill de Blasio has certified a record 4,100 minority- and women-owned businesses in the past 12 months. This means they now qualify to go after city contracts and have equal access to New York's $16 billion worth of city contracts over the next several years.
Why certification is important
Cities like New York set aside funds that will go to minority- and women-owned small businesses. To be eligible, companies must be a certified minority- or women-owned business (M/WBE). Once they complete the certification program, they are qualified to bid on city government contract jobs.
The purpose in setting aside funds for minorities and women is to expand business opportunities for entrepreneurs from diverse backgrounds and promote economic growth around the state. The recent announcement by Mayor de Blasio is considered a historic event with a record 4,100 minority-and women-owned businesses being certified as M/WBEs within the last 12 months.
Read more by visiting www.nydailynews.com/news/politics/record-number-certified-minority-women-owned-businesses-article-1.2301868
