Definitions of business classifications

Historically black colleges & universities (HBCU)
H.U.B. Zone
Lesbian, Gay, Bi-Sexual, Transgender Business (LGBT)
Minority Business Enterprise (MBE)
Minority Institutions (MI)
Service Disabled Veteran-Owned Small Business (SDVOSB)
Small Business(SB)
Small Disadvantaged Business (SDB)
Veteran-Owned Small Business (VOSB)
Woman Business Enterprise (WBE)
Woman Owned Small Business (WOSB)
Large business
Foreign business

 Historically black colleges & universities (HBCU)

An institution determined by the Secretary of Education to meet the requirements of 34 CFR 608.2. For the Department of Defense (DoD), the National Aeronautics and Space Administration (NASA), and the Coast Guard, non-profit research institutions that were an integral part of such a college or university before November 14, 1986 are included in this definition.

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 H.U.B. Zone

A historically underutilized business (H.U.B.) zone, which is an area located within one or more qualified census tracts, qualified non-metropolitan counties, or lands within the external boundaries of an Indian reservation. Status as a qualified HUBZone small business concern is determined by the Small Business Administration (SBA) in accordance with 13 CFR part 126. If the SBA determines that a concern is a qualified HUBZone small business concern it will issue a certification to that effect and will add the business to the List of Qualified HUBZone Small Businesses on its Internet website. In doing business with UTC, this certification must be active and maintained accordingly.

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 Lesbian, Gay, Bi-Sexual, Transgender Business (LGBT)

An LGBT business must be at least fifty-one percent (51%) owned, operated, managed, and controlled by an LGBT person or persons who are either U.S. citizens or lawful permanent residents, exercise independence from any non-LGBT business enterprise, have its principal place of business (headquarters) in the United States, and have been formed as a legal entity in the United States.

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 Minority Business Enterprise (MBE)

A minority-owned business is a for-profit enterprise, regardless of size, physically located in the United States or its trust territories, which is owned, operated and controlled by minority group members. "Minority group members" are United States citizens who are Asian, Black, Hispanic and Native American. Ownership by minority individuals means the business is at least 51% owned by such individuals or, in the case of a publicly-owned business, at least 51% of the stock is owned by one or more such individuals. Further, the management and daily operations are controlled by those minority group members. UTC prefers that such businesses be certified by a third party such as the National Minority Supplier Development Council or certifying government agency. In doing business with UTC, this certification must be active and maintained accordingly.

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 Minority Institutions (MI)

An institution of higher education meeting the requirements of Section 1046(3) of the Higher Education Act of 1965 (20 U.S.C. 1135d-5(3)) which, for the purposes of this clause includes a Hispanic-serving institution of higher education as defined in Section 316(b)(1) of the Act (20 U.S.C. 1059c(b)(1).

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 Service Disabled Veteran-Owned Small Business (SDVOSB)

A small business not less than 51 percent of which is owned by one or more service-disabled veterans or in the case of any publicly owned business, not less than 51 percent of the stock of which is owned by one or more service-disabled veterans; and the management and daily business operations of which are controlled by one or more service disabled veterans or, in the case of a veteran with permanent and severe disability, the spouse or permanent caregiver of such veteran. Service-disabled veteran means a veteran, as defined in 38 U.S.C. 101(2), with a disability that is service-connected, 38 U.S.C. 101(16).

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 Small Business (SB)

A U.S. business owned and operated by a U.S. citizen that is smaller than a given size as measured by its employment, business receipts, or business assets as defined by the U.S. Small Business Administration.

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 Small Disadvantaged Business (SDB)

SDBs are at least 51% owned by one or more individuals who are both socially and economically disadvantaged. This can include a publicly-owned business that has at least 51% of its stock unconditionally owned by one or more socially and economically disadvantaged individuals and whose management and daily business is controlled by one or more such individuals. SDBs are self certified.

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 Veteran-Owned Small Business (VOSB)

Not less than 51 percent of which is owned by one or more veterans (as defined at 38 U.S.C. 101(2)) or in the case of any publicly owned business, not less than 51 percent of the stock of which is owned by one or more veterans; and the management and daily operations of which are controlled by one or more veterans.

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 Woman Business Enterprise (WBE)

A small or large business which is at least 51 percent owned by one or more women, or, the case of any publicly owned business, at least 51 percent of the stock of which is owned by one or more women; and whose management and daily business operations are controlled by one or more women. UTC prefers that such businesses be certified by a third party such as the Women Business Enterprise National Council or certifying government agency. In doing business with UTC, this certification must be active and maintained accordingly.

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 Woman Owned Small Business (WOSB)

A small business which is at least 51 percent owned by one or more women, or, the case of any publicly owned business, at least 51 percent of the stock of which is owned by one or more women; and whose management and daily business operations are controlled by one or more women.

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 Large business

A large business is a domestic firm that does not meet the small business size standards per the definition above. Businesses should contact the U.S. Small Business Administration to determine appropriate North American Industry Classification (NAICS) codes and size standard. The threshold for number of employees and revenue vary depending on the product or service.

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 Foreign business

A subcontractor organized or existing under the laws of a country other than the United States. The United States means the 50 states and the District of Columbia, U.S. territories and possessions, Puerto Rico, the Northern Mariana Islands and any other place subject to U.S. jurisdiction, but does not include leased bases.

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