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HUDAR PART 2426--OTHER SOCIOECONOMIC PROGRAMS


PART 2426--OTHER SOCIOECONOMIC PROGRAMS


PART 2426--OTHER SOCIOECONOMIC PROGRAMS

Sec.

Subpart 2426.70--Minority Business Enterprises

2426.7001 Policy.

2426.7002 Responsibility.

Subpart 2426.70--Minority Business Enterprises

2426.7001 Policy.

It is the policy of the Department to foster and promote Minority Business Enterprise (MBE) participation in its procurement program, to the extent permitted by law and consistent with its primary mission. A "minority business enterprise" is a business which is at least 51 percent owned by one or more minority group members; or, in the case of a publicly-owned business, one in which at least 51 percent of its voting stock is owned by one or more minority group members, and whose management and daily business operations are controlled by one or more such individuals. For this purpose, minority group members are those groups of U.S. citizens found to be disadvantaged by the Small Business Administration pursuant to Section 8(d) of the Small Business Act.

2426.7002 Responsibility.

The Director of the Office of Small and Disadvantaged Business Utilization (OSDBU) develops Departmental MBE plans and policies in accordance with Executive Orders 11625 and 12432 and by directive from the Secretary. He or she provides advice and guidance to the Secretary and Primary Organization Heads on MBE functions, reviews and makes recommendations to the Secretary on MBE annual plans and goals, monitors and evaluates the Department's MBE program, and reports on MBE program performance to the Department of Commerce.

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