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The Future Intersection of Education and Entrepreneurship has become the Road to Success in America

Blogged By: 
Javier Santiago, MBDA Intern
Created on October 15, 2015

STEMThe Minority Business Development Agency applauds the stellar work that the White House Initiative on Educational Excellence for Hispanics has done during the last 25 years. We look forward to a robust partnership as we engage the growing Hispanic community in education excellence and entrepreneurial growth.

According to U.S. Census Bureau, there are roughly 54 million Hispanics/Latinos living in the United States, representing approximately 17% of the U.S. total population, making people of Hispanic origin the nation's largest minority group. Moreover, Nielsen estimated that the purchasing power  of the American Hispanic community is $1.5 trillion this year. Aside from population growth and purchasing power, the impact Latinos have made on the American economy is remarkable as the number of entrepreneurs has grown tremendously over the past twenty years. From 1992 to 2012, the number of Hispanic entrepreneurs in America more than tripled, going from 621,000 to more than 3.3 million.

Despite these great achievements, many Latino entrepreneurs still face obstacles in starting and growing their business. Many of the challenges include insufficient startup capital and barriers to contracts and procurement opportunities. Nevertheless, Latinos are no stranger to overcoming obstacles and have developed  their drive to succeed.

MBDA National Director Recognized for Leadership and Commitment to the Hispanic Business Community

Blogged By: 
Created on October 13, 2015

Alejandra Y. Castillo, MBDA National DirectorEach year, Americans observe National Hispanic Heritage Month from September 15 to October 15, by celebrating the histories, cultures and contributions of American citizens whose ancestors came from Spain, Mexico, the Caribbean and Central and South America.  In the spirit of this national observance The New York Office of the State Comptroller (OSC) held its 2015 Hispanic Heritage Month Celebration yesterday and honored five people whose service, leadership, and sacrifice exemplify the reason for the commemoration.

Alejandra Y. Castillo, MBDA National Director was one of the five awardees honored at the event.  As the first Latina Director of the Minority Business Development Agency, Director Castillo was recognized for her leadership and commitment to the Hispanic business community.  Hispanic-owned firms contribute greatly to the U.S. economy and according to preliminary data from the U.S. Census Bureau there are 3.3 million Hispanic-owned businesses, up 47 percent from 2007.  These firms contribute $517 billion in U.S. economic output and employ 2.5 million workers.  Today MBDA’s commitment to helping Hispanic-owned firms reach their potential is as strong as ever.   In fiscal year 2014, MBDA facilitated 2.8 billion in contracts and financing for Hispanic-owned firms.  Those transactions supported the creation and retention of approximately 13,000 jobs.

The 2015 Minority Finance Forum

Blogged By: 
Created on October 7, 2015

A collaboration of Association for Corporate Growth (ACG) in Chicago & Department of Commerce's MBDA Business Centers

A collaboration of Association for Corporate Growth (ACG) in Chicago & Department of Commerce's MBDA Business Centers

Providing access to capital and expertise to Minority Business Enterprises (MBEs) to increase revenues and value.

This is a unique opportunity for MBDA Center clients to hear how smart money and expertise of private equity and investment banking can drive higher revenues. The Forum returns to open the 16th annual Midwest ACG Capital Connection featuring 100-200 of the most active middle market investors, lenders, and investment banks, and hundreds of other advisers and deal makers from across the country.

Open for Business: Strengthening U.S. Manufacturing and Increasing Investment in the United States

Blogged By: 
Penny Pritzker Secretary of Commerce
Created on October 7, 2015

The U.S. Department of Commerce will host the third SelectUSA Investment Summit on June 19-21, 2016 at the Washington Hilton in Washington, DC. For more information, please visit United States is the world’s best place to do business. Our country is home to a skilled and productive workforce, unmatched institutions of higher education, strong intellectual property protections, a commitment to innovation, an abundant and stable energy supply, and access to millions of global consumers through high-quality free trade agreements. For these reasons and more, CEOs from around the world have ranked the U.S. as the number one place to invest for three years in a row.

In 2015, we welcomed investments from businesses of all sizes, from budding entrepreneurs to major multinationals like Nissan, ABB Group, Novo Nordisk, and Daimler Chrysler.  These companies can choose to operate anywhere, but they chose the United States.  We remain home to more foreign direct investment (FDI) than any other country in the world.

FDI generates growth and creates jobs in many sectors of the American economy, including manufacturing. U.S. manufacturing is in the midst a real comeback, with companies adding nearly 900,000 manufacturing jobs since February 2010 and new factories opening their doors at the fastest rate in decades. Our most recent data demonstrates that foreign investors have played a critical role in this growth. FDI in the U.S. manufacturing sector reached $1.05 trillion (2014) and supports 2.2 million jobs (2012).  Furthermore, U.S. affiliates of international companies spend $48 billion annually on research and development, which drives both innovation and exports.

On Friday, we celebrated Manufacturing Day, but year-round, this Administration is focused on what it takes to keep American manufacturing strong, to attract job-creating global investment, and to build a competitive 21st century economy.

Encourage Entrepreneurship in your Community with the SBA Business Smart Toolkit

Blogged By: 
SBA News
Created on September 29, 2015

What is it? The SBA Business Smart Toolkit is a ready-to-use workshop toolkit developed jointly by National Association for Government Guaranteed Lenders and SBA. The workshop lays the groundwork for helping new and aspiring entrepreneurs launch a business idea and understand the steps to building a business that is credit ready.

The Business Smart Toolkit is a part of SBA’s My Brother’s Keeper Initiative to provide resources for underserved communities. The information is laid out simply in three modules.

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