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Opportunities of Interest to Minority Business Enterprises

Blogged By: 
David Hinson

David Hinson

MBDA Seeks Bids for Business Center Focused Exclusively on Federal Procurement

The month of May has brought with it a number of announcements, news releases and opportunities of interest to the MBE constituency MBDA serves.  With this month’s newsletter I’d like to highlight two opportunities for your participation—one designed to create jobs and another intended to reform government rules. I’d also like to present new business statistics about Asian, Native Hawaiian, and Other Pacific Islander businesses.  

Just last week, the Obama Administration announced the Jobs and Innovation Accelerator Challenge to promote innovation and job growth and advance our global competitiveness. The competition offers a total of $33 million in funding from three federal agencies and technical assistance from 13 additional agencies to promote the development of at least 20 industry clusters across the country. The U.S. Department of Commerce’s Economic Development Administration will be investing $10 million in funding and the Minority Business Development Agency (MBDA) will be supporting the program’s implementation.

The goal of the program is to spur economic growth through public-private partnerships in 20 regions across the country.  Applicants to this federal funding opportunity will be considered based on their ability to demonstrate a focus and measurable outcomes on achieving sustainable economic growth in the region; augmenting business formation, especially of small businesses, and leveraging existing business assets; increasing exports; developing a skilled workforce through outreach, training and the creation of career pathways, and integrating historically underserved businesses and communities into the economic activities of the regional cluster. 

States and Localities Review and Revamp Minority Contracting Programs

Blogged By: 
MBDA

Recently, a number of state and local governments have begun taking a close look at their existing Minority and Women-owned contracting programs. A number of intergovernmental groups, such as the National Black Caucus of State Legislators, have advocated for additional assistance to minority-owned firms. The State of Maryland and the City of New York are two particular examples of this increased focus.

On May 10, 2011, Maryland Governor Martin O’Malley (D) signed Senate Bill 120 into law which aims to change the way the state contracts with minority-owned businesses.

New Obama Administration Jobs and Innovation Initiative to Spur Regional Economic Growth

Blogged By: 
Gene Sperling and Ginger Lew

Regional innovation clusters are based on a simple but critical idea:  if we foster coordination between the private sector and the public sector to build on the unique strengths of different regions - while creating the incentives for them to do so - we will be better equipped to marshall the knowledge and resources that America needs to compete in the global economy.

The $33 million Jobs and Innovation Accelerator Challenge that the Obama Administration announced yesterday will help capitalize on shared strengths, encouraging America's regions to plan more strategically to support long-term growth and an environment where the private sector can succeed.  It reflects an understanding by both private sector leaders and policymakers that we must implement strategies that capitalize on the full extent of regional assets and ensure that the benefits of cluster development extend to all workers and communities throughout the region.

SBA Proposes Size Standard Changes to Reflect Current Marketplace Conditions

Blogged By: 
MBDA

A proposed rule published today for comment in The Federal Register by the U.S. Small Business Administration would adjust the size definition of small businesses in the transportation and warehousing sector to reflect changes in marketplace conditions in those sectors.  

The proposed revisions would increase the revenue-based size definition businesses must meet to qualify as small businesses in 22 industries of the transportation and warehousing sector. As part of its ongoing comprehensive review of all size standards, the SBA evaluated all industries in this sector that have revenue-based size standards to determine whether the size standards should be retained or revised.  

Startup America

Blogged By: 
MBDA

“Startup America also represents a historic partnership with business leaders, investors, universities, foundations, and non-profits, and we're urging others to join them in this effort. For entrepreneurs speak to what's best about America, and in their drive and innovative spirit -- in their willingness to take a risk on a bold idea -- we can see the future. We can see how America will compete and win in the 21st century global economy.” President Obama

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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