The table below shows the Small Business Classifications listed on Cornell University's Supplier Information form and their related definitions. Suppliers should use these definitions in determining their correct classification when completing the Supplier Information form. To verify the size standards for your industry, check the Small Business Administration (SBA) Web site. For additional information on business certifications, please visit the SBA's Small Business Certifications and Audiences page.
| Business Classification Term |
Definition |
|---|---|
| Small Business Concern |
The term "Small Business Concern" shall mean a business as defined pursuant to Section Three of the Small Business Act and relevant regulations issued pursuant thereto. Generally, this means a small business concern organized for profit, which is independently owned and operated, is not dominant in the field of operation in which it is bidding, and meets the size standards as prescribed in government regulations. |
| Disadvantaged Business (Minority) | A "Disadvantaged Business Concern" must be owned and controlled by a socially and economically disadvantaged individual. A business enterprise that is at least 51 percent owned by, or, in the case of a publicly owned business, at least 51 percent of the stock of which is owned by citizens or permanent resident aliens who meet the following criteria:1. Black persons having origins in any of the Black African racial groups Other individuals can qualify if they show a "preponderance of the evidence" that they are disadvantaged. Individuals must have a net worth of less than $750,000, excluding the value of the business and personal residence.
|
| Woman-Owned Business |
A "Woman-Owned Business" must be 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 actively involved in the day-to-day management of the business. |
| Veteran-Owned Business |
A "Veteran-Owned Business" must be at least 51 percent owned by one or more veterans, who also control and operate it. "Control" in this context means exercising the power to make policy decisions. "Operate" in this context means actively involved in the day-to-day management of the business. |
| HUBZone Business | A "HUBZone Business" is a small business located in an "historically under-utilized business zone"; is operated and controlled by U.S. citizens; 35 percent of its employees reside in the HUBZone; and is certified by the Small Business Administration. A "HUBZone" is an area that is located in one or more of the following: 1. A qualified census tract (as defined in section 42(d)(5)(C)(i)(I) of the Internal Revenue Code of 1986)
2. A qualified "non-metropolitan county" (as defined in section 143(k)(2)(B) of the Internal Revenue Code of 1986) with a median household income of less than 80 percent of the state median household income, or with an unemployment rate of not less than 140 percent of the statewide average, based on U.S. Department of Labor recent data 3. Lands within the boundaries of federally recognized Native American reservations |
| Service-Disabled Veteran-Owned Business |
A "Service-Disabled, Veteran-Owned Business" must be at least 51 percent owned by one or more veterans with disabilities that are service-connected, who also control and operate it. "Control" in this context means exercising the power to make policy decisions. "Operate" in this context means actively involved in the day-to-day management of the business. |
