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From the Director


  • Submitted on 17 November 2011

    David Hinson, National DirectorIn support of the President’s call to increase collaboration among federal agencies and with private and public sector entities, there has been an abundance of interagency initiatives geared to increase job creation and entrepreneurship. Among these, MBDA has partnered with other federal agencies in support of the Job and Innovation Accelerator, Strong Cities, Strong Communities and Start-Up America.

    As a federal partner, MBDA is providing technical support to grantees of the Job Accelerator to identify and match minority businesses with potential procurement opportunities resulting from the 20 regional innovation clusters.  Moreover, we are excited that three MBDA Business Center operators won grants to implement the Job Accelerator projects.  MBDA also has boots on the ground in New Orleans and Fresno, California to support economic development, business formation and expansion in those cities as part of the Strong Cities, Strong Communities initiative. In addition, MBDA continues to participate in the Start-Up America initiative to support business formation and innovation.

    As many of you may know, last year the President signed into law The Wall Street Reform and Consumer Protection Act, commonly known as the Dodd-Frank Act, to promote the financial stability of America and to protect consumers from abusive financial service practices, among other purposes.  In particular, the law brought many changes to increase transparency and accountability in the financial industry, strengthen consumer protection against unfair lending practices, and to promote greater inclusion of minorities and women in the employment and procurement of federal financial regulatory agencies.  The law established the new Consumer Financial Protection Bureau and the Offices of Minority and Women Inclusion at the Department of the Treasury, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the newly created Consumer Financial Protection Bureau, among other federal financial regulatory agencies.

  • Submitted on 20 October 2011

    David HinsonGreetings!

    As we embark on a new fiscal year, I’d like to begin by thanking all of you who helped make our Minority Enterprise Development (MED) Week Conference such a huge success. We had over 800 people in attendance learning about the best strategies to pursue government contracting opportunities, take advantage of new industries, and cultivate strategic partnerships to grow.  Please visit the MED Week website to view the photos and remarks from some of our most notable speakers like HHS Secretary Kathleen Sebilius, Acting Secretary of Commerce Rebecca Blank, Treasury Assistant Secretary for Management Dan Tangherlini and others.

    MBDA was busy building relationships as well. We signed three distinct Memorandums of Understanding (MOU) designed to foster minority business growth and development with Tremco, Inc., IBM, and the Republic of Turkey’s Small and Medium Enterprises Development Organization.

  • Submitted on 19 September 2011

    David HinsonGreetings,

    Recently, President Obama presented an aggressive plan to help small businesses get Americans back to work. The American Jobs Act would provide payroll tax cuts for 98% of businesses, a $4,000 tax credit for hiring workers who have been unemployed for more than six months, and extend the 100% expensing tax credit for large and small businesses.

    The plan also includes provisions to expand job opportunities for hundreds of thousands of low-income youth and adults through a new Pathways Back to Work Fund that supports summer and year round jobs for youth; innovative new job training programs to connect low-income workers to jobs quickly; and successful programs to encourage employers to bring on disadvantaged workers. 

    The President is also directing executive branch agencies to accelerate their payments to small business contractors so they can reinvest that money in the economy and drive job growth.  Additionally, the President is tasking his CFO and CTO with creating a one-stop, online portal for small businesses to easily access government services.

  • Submitted on 29 August 2011

    Greetings!

    MBDA is gearing up for a busy month, and I’d like to share some of the exciting things we’re working on.

    On September 1, I’ll be traveling to Cleveland, Ohio to welcome our newest MBDA Business Center to the nationwide network.    Joining us at the open house will be U.S. Senator Sherrod Brown, Congresswoman Marcia Fudge (OH-11), and a wide range of local business leaders, trade groups and minority chambers of commerce.  I will then participate in an inaugural reception for the new MBDA Business in Manhattan, New York on September 15.  

  • Submitted on 27 July 2011

    David HinsonFor over 40 years, the Minority Business Development Agency (MBDA) has facilitated job growth by fostering the development of minority-owned business here in the United States. Minority business enterprises (MBEs) create jobs in a variety of economic sectors, from manufacturing to hospitality services and everything in between.  

    To ensure that our country remains competitive in the future, we must ensure that minority-owned businesses are providing the jobs of the future. That’s why MBDA works to help minority-owned businesses participate in some of our fastest growing sectors including high-tech, healthcare IT, and green energy.

    Advancements in technology and new developments in information technology bring more opportunities in the tech sector. As healthcare providers improve and update the way they store and share medical records, there will be growing jobs in healthcare IT. Finally, as we transition from fossil fuels to cleaner modes of energy production, there will be more and more opportunities in the green, renewable energy solutions our children and grandchildren will come to rely on.

    These jobs may be updating our electrical grid, maintaining infrastructure, or manufacturing new materials, such as solar panels.

  • Submitted on 29 June 2011

    David Hinson

    Exporting U.S. innovation, products and services is a top priority for the Obama administration, and MBDA is putting the spotlight on how minority-owned businesses are growing and thriving overseas so that we can be more prosperous here at home.

    Recently, President Obama held an economic summit in Puerto Rico, organized in part by MBDA and the U.S. Department of Commerce.  MBDA National Deputy Director Alejandra Castillo and our partner the Puerto Rico MBDA Business Center were integral in the success of the summit where President Obama’s Task Force on the Status of Puerto Rico made its final recommendations to boost job creation on the island.  The Task Force recommended that MBDA continue to aid job creation and innovation by helping to facilitate public-private partnerships to finance the Integrated Bio-refinery Program.  This program—which aims to create biofuels from sugar cane—will allow America to grow our own fuel and grow jobs at the same time.

    This month, the U.S. Census Bureau released the final data from the 2007 Survey of Business Owners (SBO), which offers a wellspring of data on the characteristics of minority-owned businesses in the United States.  One characteristic that is sure to have a profound effect on our efforts to double exports over the next five years is that the minority business community continues to lead in global commerce.

  • Submitted on 27 May 2011

    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. 

  • Submitted on 26 April 2011

    National Director David HinsonIn recognition of Earth Day on April 22nd, I wanted to talk to you about conservation and our efforts to create environmental jobs and promote green technology.

    Conservation means making sure the limited resources we use to power our homes and car and produce materials are used more responsibly. It means maximizing efficiencies and doing more with less—areas in which minority-owned businesses excel. Thankfully, while we may have a finite amount of coal or oil, our entrepreneurial capacity is infinite. Our transition toward a more sustainable system provides countless opportunities for innovation in green industries. 

    Green is also the color of money, and what’s good for the environment is good for the economy. Working towards environmental sustainability creates news jobs, new markets, and new industries. Minority-owned businesses can find excellent opportunities retrofitting houses and offices to be more energy efficient, constructing wind turbines, providing green recycling and disposal services, and more.

  • Submitted on 29 March 2011

    National Director David Hinson

    In honor of Women’s History Month and in recognition of the new statistics on firms owned by American Indians and Alaskan Natives, this edition of MBDA’s newsletter features an inspiring storing about Sister Sky—a firm owned and operated by two sisters from the Spokane tribe in Eastern Washington.  As I travel around the country, I am in awe of the innovation, tenacity, and the indomitable spirit of minority business owners and their unwillingness to quit in the face of overwhelming odds. That’s the spirit that makes America great.

    With the release the 2007 Survey of Business Owners data by the Census Bureau and MBDA’s American Indian and Alaskan Native Business Fact Sheet, we have evidence that there was growth in the number of American Indian and Alaskan Native-owned firms since 2002.  Yet, job creation by these firms has not materialized and the average gross receipts of American Indian and Alaskan Native-owned firms ($145,000) are significantly below average compared to non-minority firms ($490,000). 

    Still, of the 237,000 American Indian and Alaskan Native-owned firms that generate more than $34.0 billion in gross receipts, there are more than 4,600 that produce $1.0 million dollars or more in revenue.  These firms combined generated gross receipts of $23 billion and employed 116,759 workers.  Clearly, there is an upside to building your firm to size, scale and capacity.  Sister Sky, along with their commitment to creating jobs on the Spokane reservation, and with the support of MBDA and other federal partners, is headed in the right direction.

  • Submitted on 24 February 2011

    David Hinson

    Since last July, MBDA and the U.S. Census Bureau have been releasing data from the 2007 Survey of Business Owners describing  details about  the minority business community. So far we have produced fact sheets on all  minority businesses, Hispanic businesses and this month, Black History Month, we release the African American business fact sheet .

    The good news is that the number of African American-owned firms increased by 60.5 percent between 2002 and 2007 to 1.9 million firms. Employment at these firms also grew 22 percent from 754,000 to 921,000. The rate of employment growth is significantly higher than that of non-minority-owned firms which grew employment at a rate of less than one percent during the same time.

    But the true economic potential of African American firms is not being unrealized. While gross receipts for all minority-owned firms are still well below the $490,000 average gross receipts for non-minority-owned firms in 2007, the average gross receipts for African American-owned firms actually fell 3 percent from $74,000 per firm to $72,000 between 2002 and 2007. The reasons for this discrepancy vary, but in essence it comes down to access to capital, access to contracts and access to new markets. 

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