A HUB at TriNet is defined as is a business founded or led by one or more members of a historically underrepresented community or business that serves these communities in some capacity. We define such communities as persons of color, women, the differently abled, veterans and the LGBTQ+.
However, if you look online, a HUB may also stand for “historically underutilized business,” which some states define as a corporation, sole proprietorship, partnership or a joint venture formed for the purpose of making a profit in which at least 51% ownership of the business is by a woman, minority and/or service-disabled veteran.
You should know that certain states don’t use the “HUB” acronym at all though they may use “minority-owned business” or something similar. Our goal is to promote existing federal or state government programs that may benefit our SMB ecosystems.