FWIW, if it’s a Fortune 500 company, one of two things could be happening:
a. Minority Owned or SMB. Many Fortune 500 company’s have internal metrics where they try to do more business with Minority Owned or SMB businesses.
b. Bus Factor or Financial Risk. If you’re providing a service that will become core to them or poses financial risk to them if it stopped working (or you went out of business) - they are assessing how much risk you pose to their business.
As other have said, the better you can understand why they are asking the question the better you can respond.
I wonder if the first point is applicable under Title VII of the Civil Rights Act, given that as a solo founder, one is below the 15 employee threshold.
Comments
FWIW, if it’s a Fortune 500 company, one of two things could be happening:
a. Minority Owned or SMB. Many Fortune 500 company’s have internal metrics where they try to do more business with Minority Owned or SMB businesses.
b. Bus Factor or Financial Risk. If you’re providing a service that will become core to them or poses financial risk to them if it stopped working (or you went out of business) - they are assessing how much risk you pose to their business.
As other have said, the better you can understand why they are asking the question the better you can respond.
And don’t lie.
I wonder if the first point is applicable under Title VII of the Civil Rights Act, given that as a solo founder, one is below the 15 employee threshold.
https://en.wikipedia.org/wiki/Civil_Rights_Act_of_1964#Title...