Weighing Ownership structure to benefit from Minority Ownership
March 13, 2023
by a searcher from Lousiana State University in Houston, TX, USA
Under IOI and planning on using SBA 7a.
My wife will maintain her full-time job and may be able to avoid the personal guarantee (to be determined).
However, I expect my wife will be working in the business on a part-time basis and we would like to benefit from women owned business advantage to potentially expand into government work.
Thus, we would need to make my wife the majority owner I believe. From a high level, I am weighing the trade-off of her personal guarantee versus minority-owned advantages.
I don't know a whole lot about minority-owned advantages, so maybe if she is not working FT in the business, we wouldn't qualify regardless.
Any thoughts?
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA
It really depends on what industry you are in on whether minority status could impact you. If there are specific government contracts you are aware of that could benefit the company with a minority status, then it might be work looking into. However, if you are not sure if there are any contracts and the business does not currently compete for those type of contracts, it might not be worth the effort. I am more than happy to get on a call and talk through it. You can reach me here or directly at redacted
from Villanova University in West Chester, PA, USA