A LGBT-owned business or LGBT Business Enterprise (LGBTBE) is a company that is at least 51% owned and operated by a single or group of LGBT citizens. LGBTBEs are certified by the third party organization known as the National Gay & Lesbian Chamber of Commerce (NGLCC). Since its inception the NGLCC has expanded to cover bi-sexual, transsexual and queer individuals
Please keep in mind that not every LGBTBE is also a small business and vice versa.
According to the NGLCC, a LGBTBE must meet the below criteria to become a certified business:
- Majority (at least 51%) owned, operated, managed, and controlled by an LGBT person or persons who are either U.S. citizens or lawful permanent residents
- Exercises independence from any non-LGBT business enterprise
- Has its principal place of business (headquarters) in the United States
- Has been formed as a legal entity in the United States
For more information on the certification process, please visit the NGLCC website HERE