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How MBDA is engaging with the community, following the Baltimore City Civil Unrest

Blogged By: 
Martin Ezemma, MBDA Business Development Specialist
Created on June 29, 2015
 

DOJ Community MeetingThis year several U.S. cities have experienced civil unrest in the aftermath of high-profile incidents involving police. Many believe that the unrest stems from a larger, more systemic problem — lack of economic opportunity. When it happened in Baltimore this spring, MBDA was invited to join the Department of Justice’s Community Relations Service (CRS) in meetings between Asian business owners and members of the African American community.

CRS is the U.S. Department of Justice's "peacemaker" for community conflicts and tensions arising from differences of race, color, national origin, gender, gender identity, sexual orientation, religion and disability. MBDA was invited to share information about the services and assistance provided by the Baltimore MBDA Business Center, which is operated under cooperative agreement between the City of Baltimore and the U.S. Department of Commerce, Minority Business Development Agency. The Center provides personalized strategic business consulting and helps local businesses gain access to the technical resources needed to grow their businesses, create jobs, and advance the city’s economy. In FY 2014, the Center helped minority business owners secure over $90 million in contracts and capital.

Join MBDA at Pitch City: Minority Business Executive Institute

Blogged By: 
Verlinda Harris, MBDA Management Analyst
Created on June 29, 2015
 

Pitch City: New OrleansOver the past two years, New Orleans has gained recognition as a great place to live and work. It was voted #1 city for young entrepreneurs in America by Under30CEO.com, #1 metro area in the U.S. in Economic Recovery by the Brookings Institution, and #2 big city for jobs by Forbes. The Minority Business Development Agency (MBDA) via our local New Orleans business center is constantly seeking innovative and effective opportunities to support the city’s minority business enterprises (MBEs).  Whether it’s through collaborations with other federal agencies, state and local government or private corporation partnerships, MBDA plays a vital role in connecting MBEs to opportunities to expand and grow their organizations.

This week, in collaboration with Essence Festival, MBDA will host the Minority Business Executive Institute July 3-4, 2015 at the Ernest N. Morial Convention Center in New Orleans, LA.  This event will be an intensive two day training course for 25 emerging minority entrepreneurs from the Gulf Coast Region. The training will focus on key elements for business growth and success.  Several successful CEOs and business owners will offer valuable insight on topics such as company branding, the importance of social media and knowing your competition. Essence Festival is one of the biggest African American gatherings in the country and MBDA’s partnership with Essence provides the perfect platform to provide training opportunities for minority entrepreneurs.

A Resource for Manufacturers: Evolution of the Global Economy, Manufacturing and MEP

Blogged By: 
NIST MEP
Created on June 24, 2015
 

This year, Manufacturing Extension Partnership Program (MEP) celebrates its 25th anniversary. In anticipation of this milestone, we reflect on events of the last two and a half decades that significantly impacted the global economy, manufacturing, and the Manufacturing Extension Partnership.  

MEP has taken its cues from the lessons of global opportunities and challenges, and the daily changes of our client base. The program's value and effectiveness will be measured in the impact of our services and the evolving tide of progress and growth of our clients

Free Trade Agreements + Exports = Jobs

Blogged By: 
Patricia Tomczyszyn, MBDA Public Affairs Specialist
Created on June 24, 2015
 

Exports: Key to Minority Business GrowthFree trade agreements make it easier and cheaper for U.S. companies to export their products and services to trading partner markets. By reducing trade barriers and creating a more stable and transparent trading and investment environment, it is easier and cheaper for U.S. companies to export their products and services to trading partner markets. Currently, the U.S. has free trade agreements with 20 countries. Last year 44 percent of U.S. goods exports went to FTA partner countries and supported 3.2 million jobs.1

Why is this important? The U.S. has only five percent of the world’s consumers. With the remaining 95 percent living outside of the U.S., exports are vital to our economic stability and employment. The U.S. is currently negotiating a free trade agreement, the Trans-Pacific Partnership, with Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. Jobs supported by exports to these countries increased by over 500,000 since 2009.

Minority business owners possess unique advantages in the global marketplace: superior cultural knowledge and language skills; existing family relationships that allow access to critical market intelligence; intimate knowledge of local commercial/business culture, and general comfort with operating in a global environment. As the U.S. seeks to remain globally competitive, engaging minority-owned businesses is no longer a moral or civic imperative—it is an economic necessity.2

What is Crowdfunding for Small Business?

Blogged By: 
Erin El Issa, NerdWallet
Created on June 23, 2015
 

CrowdfundingThis is a guest blog post by Erin El Issa, a Content Writer for NerdWallet.  NerdWallet is focused on helping people lead better lives through financial education and empowerment. NerdWallet has featured MBDA on a recent Google Hangout and is engaged in sharing resources with the MBDA network.  A series of shared blogs will feature content provided by NerdWallet staff as part of MBDA’s continued support for Small Business Week 2015.

In recent years, crowdfunding has become a popular way to fund small business endeavors for those who aren’t independently wealthy. But how does it work? Here’s what you need to know about crowdfunding and how to get started if you want to start or fund a project.

 

Quote: The Best Way to get something done is to begin.

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