Surety bondWhen a business is owned at least 51% by a member of a minority, that business is eligible to apply for a MBE certification, or Minority Business Enterprise certification. To be considered as belonging to a minority, the individual or individuals must be Black, Hispanic, Asian, Native American or women. Then, as long as the business is established physically within the United Sates and exists as a for-profit business, certification as an MBE Maryland business is possible. Once this designation has been obtained, the owners of the MBE will continue to work to grow their business and establish a stable presence in the community.
Arranging for insurance coverage through a provider with the understanding of the particular challenges facing a MBE Maryland establishment is an important step for the owners to make. In many cases, the insurance provider will be able to offer surety bonds which can be of valuable assistance to businesses of any make up or size. The use of a surety bond may open up the possibility for greater levels of growth or the chance to gain new clients.
In many states, there is assistance available to promote the creation and further development of minority business growth. Often this assistance comes from government or community organizations, but sometimes that assistance comes through a relationship with the insurance provider.
For more information on this relationship, visit the Advantage Group.

A Relationship Between The Insurance Provider And An MBE