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Building Wealth and Contributing to “Better Lives” - Business Center Profile

Blogged By: 
MBDA
Created on November 17, 2014
 

Michael Bing, Project Director, Washington MBDA Business CenterThe Minority Business Development Agency is the only federal agency dedicated to the growth and global competitiveness of U.S. minority-owned businesses; and most of our work is accomplished through our nationwide network of MBDA Business Centers and their work directly with the nation’s MBEs. While, we often report their successes in terms of contracts and capital obtained for MBEs, we rarely talk about how they do it. With this business center profile we hope to give you an inside look at one of our 44 Centers—the Washington, DC MBDA Business Center. 

Washington DC MBDA Business Center is one of four serving the Baltimore and Washington, DC metropolitan area MBEs.

Led by Project Director Michael Bing, the Washington DC MBDA Business Center is known for their innovative approach to business development.  In 2013, the Center developed and successfully launched a peer-to-peer business development cost-share program that creates portfolios consisting of no more than five firms that vary in size, but offer similar services based  on their North American Industry Classification System (NAICS) Codes.

5 Ways to Prepare for Small Business Saturday

Blogged By: 
MBDA
Created on November 17, 2014
 

November 29: Small Business Saturday!November 29th is Small Business Saturday! That’s right, the day after Black Friday and before Cyber Monday is your chance to make a lasting impact in your community by encouraging shoppers to shop local.

But just how big an impact does the day have? According to research by American Express and the National Federation of Independent Business, consumers who were aware of Small Business Saturday in 2013 spent $5.7 billion with independent merchants (a four percent increase over the previous year).

It also gained attention at the highest levels. President Obama championed the day and 41 state governors issued proclamations in support of the campaign.

Small Business Saturday is fast becoming a holiday tradition, and it’s an especially powerful opportunity for brick-and-mortar retailers to boost holiday sales. Here are five steps you can take to make November 29th a big day for your small business.

Incorporate Small Business Saturday into Your Bigger Holiday Marketing Campaign

Health Care Law Offers New Insurance Options for Small Employers

Blogged By: 
MBDA
Created on November 17, 2014
 

SHOP Marketplace is OpenTrying to find health insurance for your employees?

Check out the Small Business Health Options Program—SHOP—part of the new Health Insurance Marketplace. The SHOP Marketplace gives you a choice of quality, private health insurance plans, information, and tools to make comparisons and choose the one that works best for your company and employees.

In many states, you can enroll in SHOP coverage directly through an agent, broker or a health insurance company that offers a SHOP Qualified Health Plan.

When you buy coverage through the SHOP Marketplace, you may also qualify for a tax credit worth up to 50 percent of your contributions to employee premium costs (up to 35 percent for tax-exempt employers.) Small employers have already received more than $1 billion in tax credits since this tax credit was created in 2010.

Detailed information on the SHOP Marketplace is available at HealthCare.gov.

Honoring 2014 National Native American Heritage Month

Blogged By: 
MBDA
Created on November 17, 2014
 

Every year, our Nation pauses to reflect on the profound ways the First Americans have shaped our country's character and culture. The first stewards of our environment, early voices for the values that define our Nation, and models of government to our Founding Fathers -- American Indians and Alaska Natives helped build the very fabric of America.

President Barack Obama
2014 Presidential Proclamation: National Native American Heritage Month

 

Native American $789 Million in Contracts & CapitalMBDA celebrates Native American Heritage Month and acknowledges the significant contributions of Native American-owned businesses to the U.S. economy.  A key component of the Agency’s services is dedicated to addressing the unique economic challenges and opportunities in Indian Country. In Fiscal Year 2013, MBDA helped Native American-owned businesses access $789 million in contracts and capital, which led to the creation and retention of 3,604 jobs.

The Next America: The Inclusion Economy

Blogged By: 
MBDA
Created on November 13, 2014
 

National Journal Next AmericaAccording to a recent U.S. Census Bureau report, the United States will not have a clear racial or ethnic majority by 2043. America's deepening diversity has huge implications for the country's economy, and is creating challenges and opportunities for the nation's financial system as it works to increase minority access to the financial mainstream.

San Francisco, California—a hub of technological innovation—is one of the many U.S. communities experiencing extraordinary population growth. However, experts say that the recession has hindered its residents' ability to accumulate wealth, and asserts that increased financial literacy, financial services innovation and improved access to credit and capital are fundamental to growing the region's economy.

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