Most certification programs require the qualifying owner or owners to hold at least 51% ownership and demonstrate real management and control of the company. Certifying organizations review governing documents, operating agreements, bylaws, tax returns, resumes, financial records, contracts, licenses, payroll records, and other documents to confirm the company’s ownership, management, and control structure.
Ownership structure also matters. Some certification programs may allow ownership to be held through a qualifying trust if the trust is structured correctly and the qualifying individual retains the required ownership, control, and beneficial interest. Other programs may require ownership to be held directly by the qualifying individual. If your company ownership involves a trust, holding company, spouse, family member, investor, or an indirect ownership structure, it should be reviewed carefully before applying.
Certification requirements vary by program. WBE, MBE, WOSB, DBE, state, local, corporate, and specialty certification programs may have different rules for citizenship or lawful permanent residency, size standards, disadvantage requirements, documentation, and review procedures.
Premier Certification Services reviews your company structure, ownership, control, documentation, and target opportunities to help determine which certification path may fit your business before an application is prepared.
Not sure whether your business qualifies? Schedule a free certification consultation to discuss your ownership, management, control, documentation, and target opportunities.
