You are hereHome > Blogs
International trade is one of the driving forces in the American economy which creates jobs and wealth and accounts for a significant percentage of our economic growth. Minority firms in the United States are primed for exporting and are twice as likely to generate sales from exporting as non-minority-owned firms. Some of the reasons are due in large part to language capabilities, cultural compatibility and business agility.
The U.S. Department of Commerce (DOC) is at the center of the federal government's efforts to promote exports. Secretary of Commerce Gary Locke will lead a High Technology Business Development Mission to New Delhi, Bangalore, and Mumbai that will highlight export opportunities for U.S. businesses in a broad range of advanced industrial sectors: civil-nuclear trade, defense and security, civil aviation, and information and communications. This trade mission will assist U.S. businesses in initiating or expanding exports to India by making business-to-business introductions, providing market access information, and facilitating access to government decision makers.
Minority business export activity spanned 41 countries over six continents, North America, South America, Europe, Asia, Africa and Australia, between 1992 and 2009. Mexico, Brazil and Dominican Republic are the top three markets for minority firms export activity, accounting for 52 percent of all financing transactions authorized for these firms when foreign markets were identified.
Minority firms in the United States are primed for exporting and are twice as likely to generate sales from exporting as non-minority-owned firms. Some of the reasons are due in large part to language capabilities, cultural compatibility and business agility.
The fourth annual Americas Competitiveness Forum (ACF) will be held in Atlanta, Georgia on November 14-16, 2010. The ACF brings together national leaders from the public and private sectors for high-level discussions on regional competitiveness and innovation, as it relates to business ventures, economic development and trade. This year’s theme for the ACF program is “Building a Prosperous and Sustainable Future for the Americas.”
The forum will primarily focus on green technologies, education and workforce development, entrepreneurship, small business development and trade facilitation. More than 1,000 leaders from the 34 nations of the Western Hemisphere will join Secretary of Commerce, Gary Locke, in sharing new ideas on how to improve business in a variety of industries.
Also joining Secretary Gary Locke at the ACF is David A. Hinson, national director and Alejandra Castillo, national deputy director for the Minority Business Development Agency (MBDA). Both leaders will leverage the event to promote business-to-business opportunities between U.S. minority-owned firms and small and medium sized enterprises outside the United States.
Bria Bailey with the Minority Business Development Agency discusses how to write a strong program narrative to include in your grant applications. A successful grant proposal is one that is well prepared, thoughtfully planned, and concisely packaged.
Today, Commerce Secretary Gary Locke announced the appointment of 25 members to the new National Advisory Council for Minority Business Enterprises. The advisory council will be led by the Commerce Department’s Minority Business Development Agency (MBDA) and provide advice and recommendations to the department and the administration on a broad range of policy issues affecting the minority business community.
The new council is the first to focus on promoting minority businesses since around 1969, when President Nixon established MBDA – formerly the Office of Minority Business Enterprise – and an advisory council to oversee and advise the new office.
The minority business community is an engine of economic growth and job creation. Today, there are approximately 5.8 million minority-owned firms generating $1 trillion annually and employing nearly 6 million workers. Yet, there continues to be challenges within the minority business community. Of those 5.8 million firms, only 800,000 have more than one employee and the gap in average annual revenue between minority-owned and non-minority-owned firms is significant.