Below is how The Exchange Defines the following supplier diversity terms:
The term “minority business” means a business concern (1) which is at least 51 percent owned by minority group members; or in the case of any publicly owned business, at 51 percent of the stock of which is owned by one or more minority group members (2) whose management and daily business operations are controlled by one or more such minority group members.
The term “women-owned business” means a business that is at least 51 percent owned by a woman or women who also control and operate it. “Control” in this context means exercising the power to make policy decisions. “Operate” in this context means being actively involved in the day-to-day management.
The term “small disadvantaged business” means a small business concern which is at least 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 or economically disadvantaged individuals.
The term “veteran owned business” means a small business that is at least 51% unconditionally owned by one or more honorably discharged veterans; or in the case of any publicly owned business, at least 51% of the stock of which is unconditionally owned by one or more honorably discharged veterans; and whose management and daily business operations are controlled by one or more honorably discharged veterans.
The term “service disabled veteran owned business” means a small business concern which is at least 51% unconditionally owned by one or more service-disabled veterans ; or, in the case of any publicly owned business, at least 51% of the stock of which is owned by one or more service-disabled veterans; and, whose management and daily business operations are controlled by one or more service-disabled veterans or, in the case of a veteran with permanent and severe disability, the spouse or permanent care-giver of such veteran.
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