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News and Announcements


  • Submitted on 09 January 2012

    Last week, President Obama signed a bill reauthorizing the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs for another six years.  This long-term reauthorization is good news for the innovative small businesses that these programs support.  SBIR and STTR invest about $2.5 billion a year in America’s most promising small research and development companies.  Through SBIR and STTR, federal agencies with large R&D budgets provide competitive awards to help small businesses bring their best innovations from the drawing board to the marketplace.  SBIR and STTR operate in three phases, providing support for research, development, and commercialization.

    Over the years, SBIR and STTR have played a role in the growth of firms like Qualcomm, Symantec, and others.  From 2002 to 2006, about 25% of R&D Magazine’s top 100 annual innovations came from companies that had received an SBIR grant at some point in their history.

  • Submitted on 09 January 2012

    While there can be debate about what it means, the unassailable fact is that Latino -owned businesses in the United States are growing at a blistering pace — in fact more than twice the national average.  This trend has been sustained for at least the last decade and manifests itself both in the growing number and size of Latino- owned businesses.  During the latest 5-year period for which information is available from the census bureau, Latino owned business’ revenue jumped by an astonishing 55% to nearly $350 billion. Some think that the census data underestimates the economic clout of Latino businesses, estimating the sales of such businesses in 2008 at $547 billion.  Many are very substantial businesses with numerous employees: the number of Latino- owned businesses with more than $1 million in revenue grew to over 44,000 in 2007, up from just 29,000 five years earlier.

  • Submitted on 30 December 2011

    OwnersSmall businesses play a critical role in African American communities across the United States—spurring investment, creating jobs, and meeting community needs. Since the beginning of the Obama Administration, the Minority Business Development Agency (MBDA), part of the Department of Commerce, created nearly 11,000 new jobs and saved tens of thousands of existing jobs while helping minority-owned firms obtain nearly $7 billion in contracts and capital. Just last year, minority-owned businesses overall created $1 trillion in economic output and 5.8 million jobs directly - View data from the Minority-Owned Business Growth & Global Reach

  • Submitted on 29 December 2011

    Winning the future in the global economy requires a government that efficiently allocates scarce resources to maximize efficiency and effectiveness so that it can best support American competitiveness, innovation, and job growth.

    To support economic growth and job expansion, the federal government must make it easier for businesses to access the full range of government information, programs and services they need to compete globally, without having to navigate their way through an overwhelming bureaucracy.

  • Submitted on 22 December 2011

    2011 proved to be another highly productive year for Commerce's Minority Business Development Agency (MBDA)—the only federal agency tasked to promote the growth and global competitiveness of the minority business community. MBDA is a leader in strengthening the economy and improving the lives of all Americans. We support job growth and economic expansion through a network of MBDA business centers, collaboration with federal, state and local government agencies, and strategic partnerships. The U.S. economy continues to benefit from a strong minority business sector as illustrated by our big numbers below.

  • Submitted on 20 December 2011

    BOSTON — Minority business owners in Massachusetts are set to benefit from a new resource designed to help them gain access to contracts, capital and markets.

    The U.S. Commerce Department’s Minority Business Development Agency is scheduled to formally open its new business center in Boston on Tuesday to help minority businesses expand.

    The agency says minority businesses accounted for nine percent of all firms located in Massachusetts in 2002, the latest year for which data is available.

    The minority accounted for nearly 20 percent of the state population in 2010.

  • Submitted on 20 December 2011

    A new electronic application that quickly and efficiently finds loans, grants, and other useful small business resources, and its developer Somesh Kumar of Freemont, Calif., won first prize and $5,000 in a nationwide competition sponsored by the U.S. Small Business Administration. The competition and resulting seven “apps” are meant to put new and useful web tools at the fingertips of growing entrepreneurs.

    As a result of SBA’s “Apps for Entrepreneurs Challenge,” a competition for tech-savvy developers to build new and useful web tools for small businesses, entrepreneurs can reach for their smartphone or tablet and search federal, state and local databases for vital information by using one of seven award-winning apps.

  • Submitted on 19 December 2011

    March Business Development Mission will Make Stops in Delhi, Jaipur and Mumbai

    Secretary Bryson to Lead India Trade MissionAt the U.S. Chamber of Commerce, Commerce Secretary and former CEO John Bryson laid out his priorities for the Department of Commerce, including supporting advanced manufacturing, increasing exports, and attracting more investment to America from all over the world.  In conjunction with those priorities, the Department of Commerce is announcing that Secretary Bryson will lead his first trade mission, March 25-30, 2012, focusing on infrastructure opportunities in India.  The focus of the mission is to promote U.S. exports and discuss trade policy issues in response to India’s goal of investing $1 trillion in infrastructure development during the next five years. 

    “Exports are leading the U.S. economic recovery and contributing to future economic growth and job creation in America,” said Secretary Bryson. “Selling more made-in-USA infrastructure products to India will help U.S. companies grow and hire more people while helping India meet its ambitious goals to dramatically improve it roads, railway and bridges.”

  • Submitted on 25 November 2011

    You’ve heard of Black Friday. And Cyber Monday. But did you know that this Saturday is Small Business Saturday? We’re encouraging everyone to visit a small business to do some holiday shopping this Saturday.

    As President Obama said in a message out to all Small Business Saturday supporters:

  • Submitted on 21 November 2011

    Minority businesses that have more than $1 million in revenue will be eligible for assistance at the new Minority Business Development Agency, which aims to help such companies secure more than $21 million in annual contracts and more than $9 million each year in capital.

    The U.S. Commerce Department reportedly opened a Minority Business Development Agency (MBDA) in Minneapolis this week in an effort to help grow minority businesses within the state.

    According to the Star Tribune, the MBDA will be run by the Metropolitan Economic Development Association (MEDA) under a five-year contract that’s expected to net $30 million annually and hundreds of jobs for Minnesota’s minority-owned firms.

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