Classification Before beginning your search for minority small business grants, you must determine whether or not your company can be classified as a minority business. The United States Small Business Administration has used data collected by the Survey of Small Business owners to determine minority business classification guidelines. Minorities are categorized in six demographic groups; Asian, African American, American Indian or Alaskan Native, Native Hawaiian, Hispanic and Pacific Islander. According to SBA, to qualify as a minority business the proprietor must possess at least 51 percent of company stock, assets or equity of the company.