Supplier Diversity
Exchange procurement personnel promote the development of minority business enterprise to the extent that such action is consistent with the Exchange mission and that such procurement is done in the 50 states, Puerto Rico and Guam.
Long term contracts are established through open competition among eligible sources interested in providing the service, commodity or vending concession required by the Exchange. Participation by small businesses and minority business enterprises is encouraged.
Minority Business
A business that is at least 51% owned by minority group members; or in the case of any publicly owned business, at least 51% of the stock is owned by one or more minority group members, and whose management and daily business operations are controlled by one or more minority group members. For purposes of this definition, minority group members include African-Americans, Hispanic Americans, Asian-Americans and Native Americans (including American Indians, Eskimos, Aleuts and Native Hawaiians).
Small Business
A business that is independently owned and operated and is not dominant in its field. The Exchange considers a business small when there are 499 or fewer employees.
Small Disadvantaged Business
A business with either:
- 51% unconditionally owned by one or more individuals who are both socially and economically disadvantaged, or a publicly owned business that has at least 51% of its stock unconditionally owned by one or more socially and economically disadvantaged individuals and that has its management and daily business controlled by one or more such individuals.
- 51% unconditionally owned by an economically disadvantaged Indian tribe or Native Hawaiian organization, or a publicly owned business that has at least 51% of its stock unconditionally owned by one of these entities, that has its management daily business controlled by members of an economically disadvantaged Indian tribe or Native Hawaiian organization.
Women-owned Business
A business that is at least 51% owned by women who are United States citizens and who also control and operate the business.
Hubzone
Historically underutilized Business Zone – Must be located in HUBZone area (see https://www.sba.gov/content/hubzone-maps)
Veteran Owned
At least 51 percent of which is owned by one or more veterans (as defined at 38 U.S.C. 101(2)) or, in the case of any publicly owned business, at least 51 percent of the stock of which is owned by one or more veterans, that has management and daily business operations of which are controlled by one or more veterans.
NIB / NISH
National Institute for the Blind / National Institute for the Severely Handicapped.
