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January 2011

Welcome to the first Monthly Newsletter of 2011!

We are excited to introduce you to our monthly publication. Our goal is to bring you useful and interesting information that helps you grow and manage your business.  We look forward to sharing with you messages from Director Hinson, minority business success stories, and legislative information important to you and your business.

From the National Director Helping Minority Businesses Grow

David HinsonThere are bright spots to consider.  The minority-business community generated $1 trillion in gross receipts and employed nearly 6 million workers according to recently released U.S. Census data.  In fact, employment at minority-owned firms grew by 27 percent compared to less than 1 percent for non-minority-owned firms over the same period.  While we still need to do more to create jobs, this is encouraging news.

On a broader level, the world in which we do business today is rapidly changing, and opportunities abound if you know where to look and what resources to tap into.

Every serious business owner must consider a company’s core capabilities and the industry in which they compete as we start the new year.  Now is the time to consider how you measure your company against the ever changing global business trends.  Ask yourself  - what does my company have to do to be successful in 2011? Then go out and make those things happen.

Over the last year, I have been encouraging minority-owned firms to look for new ways to grow.  Minority-owned firms should consider strategic partnerships, mergers and acquisitions as part of their growth strategy – not just domestically, but internationally.

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Marion Trucking & ConstructionIn keeping with our mission, MBDA centers are servicing clients offering access to capital, contracts and opportunities as well as aiding strategic partnerships to help businesses reach their full potential.

One such example is Terry L. Marion of Marion Trucking & Construction, based in Dunseith, North Dakota. The town is primarily a Native American community of about 900 people and located in north central North Dakota approximately 13 miles from both the Turtle Mountain Indian Reservation, where Marion is a member and only 13 miles from the Canadian border

Marion has been a client of the North Dakota/South Dakota Native American Business Enterprise Center since 2003. During this time, Marion’s company has grown significantly. According to Marion, the company started at about $100,000 per year in trucking and construction and progressed to about $12 million in gross earnings in 2010. He expects to maintain the same numbers in 2011.

The company’s services include underground utilities, as well as building roads. Marion has had general contracting jobs as large as $14 million.

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Legislative Corner

Capitol HillWith the election of 104 new Representatives and Senators, the 112th Congress will be marked with changes in both the House of Representatives and Senate following the November elections.

Most directly affecting the minority business community will be changes in the chairmanships of the House Small Business and Financial Services Committees. These committees are responsible for guiding legislation through the chamber that deals with issues such as reforming the Small Business Administration’s 8(a) Program, access to capital, and trade. U.S. Rep. Sam Graves (MO-06) is taking over as Chairman of the Small Business Committee from U.S. Rep Nydia Velazquez (NY-12).

Additionally, U.S. Rep Spencer Bachus (AL-06) is assuming the chairmanship of the Financial Services Committee from U.S. Rep. Barney Frank (MA-04). Both outgoing chairs will remain on their respective committees as Ranking Minority Members.

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