Certification in Supplier Diversity Practice Exam

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What percentage of ownership is required for a business to be classified as a small disadvantaged business?

At least 25%
At least 51%
At least 75%
At least 50%

The correct answer is: At least 51%

For a business to be classified as a small disadvantaged business, it is required that at least 51% of the business is owned by individuals from socially and economically disadvantaged backgrounds. This percentage reflects the necessity for majority control, ensuring that the disadvantaged individual(s) have significant authority and decision-making power within the company. This criterion is crucial as it serves to level the playing field, allowing these businesses to access various benefits and opportunities designed to support their development and competitiveness in the market. Understanding this threshold is important for recognizing the intent behind small disadvantaged business classifications, which aims to promote diversity and inclusion in entrepreneurship and business ownership.