Minority Owned Businesses Can Acquire Special Insurance Plans

A minority business enterprise is defined as one in which at least 51% of ownership is in the hands of members of a minority ethnicity in the United States, including African Americans, Asian Americans, Hispanic Americans and Native Americans. These businesses are often certified by a state-level or federal-level agency. If you are the sole owner or one of several owners of a minority business, you may be interested in learning that there are special programs geared towards helping your minority business enterprise supply employees with health insurance and other benefits.

 

Maryland and MBEs

 

Maryland is one of the best states to own an MBE in. In fact, it is the first state to put forth a sub-goal for businesses owned by African Americans. A legally mandated program for minority business enterprise in Maryland has been established to facilitate business growth and help furnish minority-owned companies with important attributes such as insurance. Only three other states have done so.

 

Insurance for MBEs

 

One of the perks of running a minority business enterprise in Maryland is that you will have some assistance in acquiring insurance benefits for your employees. Health insurance and similar benefits are among the most important factors leading to satisfied employees. By participating in an MBE insurance program, you will be able to devote more attention to actually running your business rather than trying to arrange insurance benefits for employees.

 

photo credit: NCRC cc

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