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National Director Castillo Keynotes National Journal The Next America: Making America Work

Blogged By: 
MBDA
Created on June 17, 2014
 

National Director CastilloThe country's shifting demographics have huge implications for U.S. industry and the economy. By 2030 minorities are projected to provide all of the net growth of workers in the labor force. Experts say that increased public investment, skills training, and workforce development are crucial to improving the economy, expanding the middle class, and empowering the country's minority populations.

In an era of slow financial growth and tight public budgets, American minorities have taken to entrepreneurship, innovation and service to create new jobs, build wealth, and provide critical social value for their communities. Minority businesses make up 15 percent of the country's small businesses today and employ 5.9 million workers.

Join National Journal for the fourth Next America summit as they convene the nation's key opinion leaders for a robust discussion about minority financial empowerment, workforce development and entrepreneurship. They will explore questions such as: How can government grow the economy and improve the job market for all of its citizens? How can the public and private sectors best equip U.S. minorities with the skills they need for work? How do small businesses impact community growth? And what is the future of minority entrepreneurship?

Event Details:

Tuesday, June 24, 2014 8:00 AM - 11:00 AM

The Grand Hyatt Washington | 1000 H Street NW | Washington, DC

RSVP to the attend or watch the event online.

Readiness: Planning for the Threat

Blogged By: 
MBDA
Created on June 12, 2014
 

Hurricane SeasonDisaster can strike at any time, and even the most prepared businesses and business owners can be adversely impacted. Scenes of disaster replay on televisions across the country with numbing regularity: A hurricane blasts through Florida... fire sweeps through a small-town manufacturing plant...floods destroy a local business district... a winter storm causes widespread power failure in the Northeast.

Every year emergencies take their toll on business and industry in terms of lives and dollars. But something can be done. Businesses of all sizes can limit injury and damage and return more quickly to normal operations if they plan ahead. Preparedness works.

Why Develop an Emergency Plan?

Business owners invest a tremendous amount of time, money and resources to make their ventures successful, so it would seem natural for owners to take steps to protect those investments. While the importance of emergency planning may seem self-evident, the urgency of the task is often blunted by the immediate demands of the workplace. Also, owners and managers may have only a nominal idea of the risks their business faces, or possess only a limited understanding of steps they can take to reduce the potential impacts of disasters.

Last but not least, the business person is prone to the all-too-human tendency to believe that “it won’t happen to me.” In the meantime, businesses will continue to suffer setbacks that often could have been reduced or prevented altogether had someone taken the time to plan.

2014 National Minority Enterprise Development Week Conference Public Meeting

Blogged By: 
MBDA
Created on June 11, 2014
 

The largest federally sponsored event on minority enterprise development. Visit medweek.mbda.gov.

Early this month MBDA hosted a public meeting on the 2014 National Minority Enterprise Development Week Conference.

» Replay Public Meeting

Meeting the Needs of Asian American and Pacific Islander Businesses and Entrepreneurs

Blogged By: 
Bill Imada
Created on June 6, 2014
 

This post originally appeared on the White House AAPI Blog.

Bill Imada is a member of the President’s Advisory Commission on Asian Americans and Pacific Islanders.

More than 1.5 million businesses in the United States are owned by Asian Americans, Native Hawaiians and Pacific Islanders. These firms account for $508.6 billion in spending power nationwide and have resulted in the creation of more than 2.8 million jobs. A vast majority of these companies are small and are fueled almost exclusively on creatively, ingenuity, business innovation and an unparalleled level of entrepreneurial spirit that cannot be found anywhere else in the world.

They include a robotics company designed to entice young people to consider careers in science, technology and engineering; a brick and mortar Boba tea shop that will introduce new flavors and customer enhancements to widen its appeal; a fashion design company that draws inspiration from the cultural diversity of America; and, a shoe designer who incorporates recycled and repurposed paper to create an environmentally friendly consumer product.

On May 5, the White House Initiative on Asian Americans and Pacific Islanders (WHIAAPI) teamed up with the U.S. Department of Commerce’s Minority Business Development Agency (MBDA) and the U.S. Small Business Administration (SBA) by holding a roundtable discussion to address some of the key issues facing business owners, entrepreneurs and corporate leaders in the greater Asian American and Pacific Islander (AAPI) community.

The Look South Slice of the Export Pie Continues to Grow

Blogged By: 
John Larsen is the Deputy Director
Created on June 2, 2014
 

This post originally appeared on the Tradeology, the ITA Blog

John Larsen is the Deputy Director of the Trade Promotion Coordinating Committee Secretariat.

The Look South campaign is encouraging companies to seek export opportunities in Latin America.Department of Commerce data show that U.S. goods and services exports set a record for the fourth consecutive year, reaching $2.3 trillion in 2013.

U.S. companies that export to our 11 free trade agreement partner countries in Latin America played a major role in this success. Through the Look South campaign, federal trade-promotion agencies hope to help more companies find success by taking advantage of these free trade agreements.

In 2013, U.S. goods exports to Look South markets increased $12.5 billion to $312.6 billion – more than double the 1.7 percent rate of growth for goods exports to the rest of the world.

This isn’t just a blip; we see a clear growth trend as market liberalization, growing middle class consumption, and diversifying industrialization by Latin American markets fuels healthy economic growth and import demand.

As U.S. exporters respond, the Look South markets’ share of total U.S. goods exports has steadily grown from 17 percent in 2009 to 20 percent in 2013.

Did you know...

Between 2002 and 2007, minority-owned firms outpaced the growth of non-minority firms in gross receipts, employment, and number of firms. Minority firms are an engine of job creation.
Graph for MBE Growth

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