When starting a business is it better to put in a minority name?

syzer

LawnSite Bronze Member
Location
Maryland
As I have stated before i am currently in the process of starting a busniess. Someone told me it would be smart to put the company in a minorities name (like mother or sister) that way you get more contracts and other stuff is cheaper. Im not so sure if i agree with this and wanted to see what you guys had to say. Thanks.
 

bob

LawnSite Platinum Member
Location
DE
Most customers aren't going to know who's name is on the busines license. My business is "Bob's Lawn Service", but for financial reasons, my wife's name is on the business license. No one has ever questioned this. Most people will judge you by your work.
 

Twotoros

LawnSite Senior Member
Location
Yakima,WA.
I know of a few businesses that do this . One was a roofer who had the biz in his wifes name ( usually it is done this way) . He said he gets a lot of goverment contracts that way .
When it comes to the average homeowner or business
it doesn't matter .
 

eslawns

LawnSite Senior Member
Location
Portsmouth, VA
Check where you get your bus. lic. There is a box on mine that you check if the bus. is minority owned. When the clerk enters the info into the city database, it flags minority businesses. Not all municipalities do this, but it should be easy to find out.
 

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