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Blog December 2013
Created on December 18, 2013
The U.S. Small Business Administration's 8(a) Business Development Program is designed to help small, disadvantaged businesses compete in the federal marketplace. The 8(a) Program offers executive level business training that helps to keep your small business competitive. Read on to learn about the benefits, the requirements and how to apply. What is the 8(a) Business Development Program?
Created on December 10, 2013
One of the real joys of the holiday season is having the opportunity to say thank you. As the year ends and the Agency reflects on all the things we are grateful for, MBDA’s relationship with you, our stakeholders, is especially treasured. Your continued partnership throughout this year has greatly contributed to our success in increasing the growth and global competitiveness of minority-owned businesses.
MBDA is proud to have reached a number of special milestones this year. In particular: we awarded $7.3 million in grants to boost job creation through the funding of seven new MBDA Business Centers; we made a supplemental investment of $625,000 to five existing MBDA Business Centers to better serve minority business communities nationwide; we launched a national webinar series that highlighted the resources of the government in support of international trade, federal contracting, and industry specific initiatives; and, we commemorated a 31-year history of celebrating minority-owned businesses and stakeholders during National Minority Enterprise Week, December 1-7, 2013, as designated by Presidential Proclamation.
Created on December 10, 2013
St. Louis Mayor Welcomes the Opening of the St. Louis MBDA Business Center
Mayor Francis Slay announced the opening of the St. Louis MBDA Business Center and said the center will increase financing and contract opportunities for minority business enterprises and help foster ties with major corporations.
Maryland Congressional Delegation Announce Baltimore Awarded Money to Open MBDA Business Center
U.S. Senators Ben Cardin and Barbara A. Mikulski along with Representatives Elijah Cummings, C.A. Dutch Ruppersberger and John Sarbanes (all D-Md.) announced that Baltimore was awarded $900,000 to operate a MBDA Business Center.
Created on December 6, 2013
In observance of Minority Enterprise Development (MED) Week, as proclaimed by President Barrack Obama, the Minority Business Development Agency (MBDA) recognized the 2013 National MED Week Award winners at the U.S. Department of Commerce on Dec. 2. The 12 winners represented organizations, businesses and individuals who have demonstrated leadership and commitment in advancing the minority business community. U.S. Secretary of Commerce Penny Pritzker presented the awards during the private ceremony.
“I am pleased to recognize and personally congratulate the 2013 National Minority Enterprise Development Week Award winners,” said Secretary Pritzker. “Helping American businesses grow and create jobs is the key focus of the Commerce Department’s ‘Open for Business Agenda,’ and today’s award recipients are playing a critical role in those efforts by helping minority-owned businesses innovate, expand and thrive.”
Winners were selected for the following awards: Ronald H. Brown Leadership Award; Champions of Minority Business Development; and Minority-Owned Firms. The awards are designed to celebrate and recognize outstanding achievements of minority entrepreneurs based on the challenges the business has overcome, total revenues, total jobs created and the economic impact the business has had on the community. MBDA also recognizes individuals and organizations that have demonstrated leadership and commitment in advancing the minority business community.
Throughout the years, the hospitality industry has grown through a series of transformations. While many industries struggled with unemployment in 2011, new growth in the hospitality industry sparked a boom in the number of jobs created and economic opportunities. According to the Bureau of Labor Statistics the leisure / hospitality sector was second only to health care in the number of jobs created in 2011.
One key reason for this growth has been the rise of the gaming industry across the United States. Today, many states have either legalized or begun the debate to legalize casinos in their state. What was once an industry isolated in Las Vegas, NV has now expanded in some form to 38 states. As a clear sign of this growth, in 2012, the Chicagoland area is now the third largest market by revenue according to the American Gaming Association.
This rise also creates a number of economic opportunities for firms in the technology, manufacturing, and services industries. According to the American Gaming Association, “direct economic output by the gaming equipment manufacturing and technology sector rose to $13.0 billion in 2012 — an all-time high and 5.7 percent increase compared to 2011 figures. Approximately 31,200 workers were directly employed in the sector during 2012, earning $2.3 billion in salaries and wages.”
Food and beverage firms as well as hotel management firms are also in line for expanding opportunities as these segments account for approximately one third of gaming revenue.