minority business enterprise
(9) Minority business enterprise (A) In general The term “minority business enterprise” means a business enterprise— (i) that is not less than 51 percent-owned by 1 or more socially or economically disadvantaged individuals; and (ii) the management and daily business operations of which are controlled by 1 or more socially or economically disadvantaged individuals. (B) Rule of construction Nothing in subparagraph (A) may be construed to exclude a business enterprise from qualifying as a “minority business enterprise” under that subparagraph because of— (i) the status of the business enterprise as a for-profit or not-for-profit enterprise; or (ii) the annual revenue of the business enterprise.