The NMSDC Growth Initiative affects only NMSDC-certified firms that have an opportunity to grow businesses.

First, your business must be certified through an NMSDC affiliate before it can apply for the Growth Initiative.

A minority business may be certified as a minority “controlled” enterprise if the minority owners own at least 30% of the economic equity* of the firm.  This occurs when non-minority institutional investors contribute a majority of the firm’s risk capital (equity).  Under this special circumstance, a business may be certified as a minority “controlled” firm if the following criteria are met:

1. Minority management/owners control the day-to-day operations of the firm.
2. Minority management/owners retain a majority (no less than 51%) of the firm’s “voting equity”.

Minority owner/s operationally control the board of directors (i.e., must appoint a majority of the Board of directors).