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Top 15 Blogs of 2013

Blogged By: 
MBDA
Created on January 10, 2014
 

BlogsLooking for the information and tips to grow your business, here are the 15 most visited blogs on mbda.gov for 2013.

Minority Entrepreneurs — Continuous Success with Angel Investors!

Minority-owned businesses are the fastest growing business sector in the Nation, in terms of gross receipts and paid employees.[1] Yet, access to capital remains the biggest obstacle limiting their establishment, expansion and growth. While traditional funding remains the most sought after source of capital, alternative funding sources, such as angel investors, have proven successful for minority entrepreneurs.

Performance Highlights: FY 2009-FY 2011

The Minority Business Development Agency (MBDA), a job-creating agency, leads Federal efforts to promote the growth and global competitiveness of America’s minority business community. This summary includes a small portion of our overall accomplishments during the first three years of the Obama Administration.

Do I really need a business plan?

The War on Poverty: 50 Years Later

Blogged By: 
MBDA
Created on January 8, 2014
 

Statement by the President on the 50th Anniversary of the War on Poverty

Fifty years ago, in January of 1964, President Lyndon B. Johnson declared a “War on Poverty” and introduced initiatives designed to improve the education, health, skills, jobs, and access to economic resources of those struggling to make ends meet.

New Rules to 1910 Buy Indian Act Give Indian-owned Businesses Additional Procurement Opportunities

Blogged By: 
Federal Reserve Bank of Minneapolis
Created on January 7, 2014
 

More than a century after its passage, an act of legislation with the potential to transform the federal government’s purchasing practices in Indian Country finally has the force of law.

MBDA National Director Says Goodbye

Blogged By: 
David A. Hinson, National Director
Created on January 7, 2014
 

David Hinson, National Director Dear Friends,

After four and a half years as National Director of the Minority Business Development Agency, I am leaving the Agency to return to the private sector on January 15, 2014. It has been a privilege to work with each and every one of you and to serve the American people under the leadership of President Obama and four Commerce Department secretaries, including Secretary Pritzker.

During my tenure as National Director, we worked to help the U.S. economy rebound from the worst economic downturn since the Great Depression. Like nearly every other federal agency, MBDA carried out its work under flat or reduced budgets, all while the demand for Agency services continued to increase. Despite these challenges, we experienced one of the most productive periods in Agency history. We increased funding for our national business center program for the first time in 15 years and we provided targeted support to our clients in the areas of manufacturing, healthcare technology, government contracting and exporting. We also increased bottom-line support for minority-owned firms by helping them get over $19 billion in capital and contract awards, resulting in the creation and/or retention of over 50,000 jobs.

5 New Year Tax and Financial Planning

Blogged By: 
Adapated from SBA.gov
Created on January 3, 2014
 

Planning ChecklistStart 2014 off right. Here are some actions to take now or in early January that will help you optimize your tax and financial results for the coming year.

1.  Revisit your recordkeeping practices

Records are vital for both business and tax purposes. They help know whether or not you’re profitable and provide key information to help you take business actions, such as adjusting prices, cutting expenses, or raising money.

What’s more, in order to take all the deductions and credits to which your business is entitled in 2014, you’ll need good books and records. Often business owners fail to pay attention to this detail until it’s too late and the IRS is questioning write-offs claimed on a return.

Set up a recordkeeping system that satisfies tax law requirements, and make sure that employees know what to do. Check IRS Publication 583 [pdf] for details on recordkeeping rules for tax purposes. Consider using apps that can help with recordkeeping, such as those for capturing receipts for travel and entertainment expenses. Some may be available for use with, or provided by, your current bookkeeping software or cloud solution.

Did you know...

MBDA Minority Business Centers helped clients secure contracts totaling $6.9 billion during the last 5 fiscal years.
Graph for Dollar Value of Contracts

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