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  • Submitted on 22 August 2011

    Winners will become candidates for National Minority Business of the Year Award

    Register Now for MED Week 2011

    The Minority Business Development Agency (MBDA) today proudly announced the recipients of the 2011 Regional Minority Enterprise Development Week award. The winners from five different regions – Atlanta, Chicago, Dallas, San Francisco and New York – will make up the pool of eligible candidates for the National Minority Business of the Year Award, which is given to the nation’s top firms across a number of different categories. 

    The regional awards are designed to celebrate the top minority firms achieving outstanding success in the construction, manufacturing, retail, energy, global technology and supplier distribution industries. Other categories of recognition include an advocate award, media award, distinguished supplier award, and an access to capital award.  

    “Minority businesses are a phenomenal asset to the U.S. economy in a variety of sectors, from manufacturing to hospitality services and everything in between,” said MBDA National Director David Hinson. “These firms create good paying jobs and boost economic growth in America’s communities. The businesses recognized through the MED Week awards program represent just a few of our nation’s brightest and most innovative minority enterprises.”  

  • Submitted on 31 May 2011

    New Minority Business Center to Foster Growth of Minority-Owned Firms through Assistance with Federal Procurement

    WASHINGTON (May 31, 2011) – The Minority Business Development Agency (MBDA) announced today a competitive solicitation for candidates interested in operating a new MBDA Federal Procurement Center (MFPC). MBDA will award one cooperative agreement totaling $1.75 million over a five-year period – from fiscal year 2011 through fiscal year 2015 – to operate the Center, which will be located in the Washington, D.C. metropolitan area.

  • Submitted on 06 April 2011

    Funding will support 27 MBDA Business Centers, including two new centers in Cleveland and Denver

    Visit MBDA Business CentersWASHINGTON, D.C. (April 6, 2011) —The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) today announced $7.8 million in funding for 27 MBDA Business Centers (MBC) located across the country to boost job creation and foster the economic growth of minority firms in the United States, the District of Columbia, and Puerto Rico.

    MBDA Business Centers assist minority entrepreneurs with access to markets, contracts and capital and offer strategic business consulting services to facilitate 21st century growth in today’s global economy.  MBCs interface directly with minority business owners and managers at the local level and provide enhanced assistance through MBDA’s national strategic partners, both within the Federal government and the private sector.

    “The MBDA Business Center program has shown remarkable success, and with a renewed focus on job creation in high-growth industries that leverages global business opportunities and teaming arrangements, we’ve raised the performance bar,” said MBDA National Director David Hinson. “MBCs are catalysts for minority business development, and by investing in these centers at the local level, we will see reverberating effects throughout the national economy.”

  • Submitted on 31 March 2011

    Agency seeks candidates to operate Minority Business Centers in Upper Midwest, Northeast and Southern California

    Business Center Grant CompetitionWASHINGTON (March 30, 2011) - The U.S. Commerce Department’s Minority Business Development Agency (MBDA) today opened a grant competition to candidates interested in operating MBDA Business Centers in three U.S. regions: the Upper Midwest, the Northeast and Southern California. Selected candidates will receive funding to support business center operations and will join a national network of 27 other MBDA Business Centers.

    The primary objective of MBDA Business Centers is to provide strategic business consulting services to minority firms that will result in increased public and private sector contracting opportunities and capital investments, ultimately leading to the creation of new U.S. jobs.

     

  • Submitted on 21 March 2011

    The country’s premier minority business networking conference to take place
    September 27-30 in Washington, D.C.

    Visit medweek.govWASHINGTON (March 14, 2011) – Minority Business Development Agency National Director David A. Hinson announced today the 2011 dates and venue for the Minority Enterprise Development (MED) Week Conference

    The Minority Business Development Agency (MBDA), a bureau of the U.S. Department of Commerce, hosts the largest federally sponsored conference for minority businesses, government procurement officials, prime contractors, corporate buyers, and capital providers. This year’s conference will be held Sept. 27-30 at the Marriott Wardman Park Hotel in Washington, D.C.

  • Submitted on 02 March 2011

    Council to support the continued growth of the minority business community

    WASHINGTON (March 1, 2011) - The U.S. Commerce Department today announced the opening of the application process to fill four vacancies on the newly established National Advisory Council for Minority Business Enterprises. The Advisory Council, led by the department’s Minority Business Development Agency (MBDA), is the first council focused on promoting the minority business community since the early 1970s.

    The National Advisory Council will hold its inaugural meeting to discuss administrative procedures, future work products and provide an orientation for new committee members on March 11 in Washington, D.C. Additional meetings will be held over the next year, including one to be held during the National Minority Enterprise Development (MED) Week Conference scheduled for September.

    The new Council will provide advice and recommendations to U.S. Commerce Secretary Gary Locke and the administration on a broad range of policy issues affecting the minority business community as part of the Obama Administration’s focus on job creation and U.S. economic growth. Recent Census data show that the number of minority-owned firms is growing at a significant rate, yet there is still a gap in revenue between minority-owned and non-minority-owned firms. Disparities in access to capital have also been recently documented in a report commissioned by MBDA.

  • Submitted on 17 February 2011

    Minority businesses are fastest-growing segment of U.S. business community

    Washington, D.C. (February 16, 2011) – The Minority Business Development Agency (MBDA) today outlined President Obama’s fiscal year (FY) 2012 budget proposal in support of the fastest growing segment of the U.S. business community – minority-owned businesses.  The budget would enable MBDA to offer more efficient programs and services to minority businesses and increase its presence in more communities across the country.

    Over the last decade, the growth of minority-owned businesses has exceeded that of non-minority-owned businesses, yet there are still significant opportunities to expand both the number and size of these firms. Minority-owned firms present a unique competitive advantage in exporting and have the potential to greatly impact the national economy. 

    The President’s FY 2012 budget proposal requests $32.3 million for MBDA to expand its services and assistance to the nation’s 5.8 million minority businesses.  This represents an increase of $822,000 over FY 2010 appropriations. MBDA currently funds more than 45 minority business centers in 26 states, the District of Columbia and Puerto Rico that provide a variety of services to minority-owned firms, including business consulting, procurement matching, and private equity and venture capital sourcing.  Additional funding in the FY 2012 budget would allow MBDA to open two additional minority business centers, extending the agency’s services to more minority businesses. The centers would also be better equipped to deliver broader business resources to its clients by leveraging new partnerships with the Commerce Department’s CommerceConnect and other regional organizations. 

  • Submitted on 08 February 2011

    African American businesses still small and underrepresented based on population

    WASHINGTON (February 8, 2011) – The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) and the U.S. Census Bureau today announced that the number of African American-owned firms increased by 60.5 percent between 2002 and 2007 to 1.9 million firms, according to new data from the U.S. Census Bureau’s 2007 Survey of Business Owners.

    Employment at these firms grew 22 percent from 754,000 to 921,000 workers, a significantly higher rate than that of non-minority-owned firms between 2002 and 2007.

    “We are encouraged by the overall growth of the minority business community, including African American-owned businesses, but we still have a lot of work to do,” said MBDA National Director David A. Hinson. “Creating new businesses and new jobs on a path to entrepreneurial parity in size, scope and capacity is our primary goal.”

    While minority-owned firms are experiencing substantial growth, African American-owned businesses still only represent 7 percent of all classifiable firms but 12 percent of the adult population.  In 2007, average gross receipts for African American-owned firms actually decreased by 3 percent from $74,000 per firm in 2002 to $72,000. Gross receipts for all minority-owned firms are still well below the average gross receipts for non-minority-owned firms, which averaged $490,000 in 2007.

  • Submitted on 28 January 2011

    Senator Casey and Director HinsonFriday, January 21, 2011

    PHILADELPHIA, PA – U.S. Senator Bob Casey (D-PA) joined David Hinson, National Director of the Minority Business Development Agency, to meet with minority business leaders and small business owners from Philadelphia to discuss ways in which Congress and the federal government can stimulate growth of minority businesses in Philadelphia and the Commonwealth. Senator Casey discussed legislation to protect minority and women-owned businesses and help them succeed in creating jobs in Pennsylvania.

    “I am pleased to be joined today by Director Hinson as we discuss issues vital to business owners in Philadelphia,” said Senator Casey.  “Especially in the current economic climate, supporting small businesses is vital to our economic recovery.  Today we had a great dialogue on how we can help small and minority-owned businesses by protecting them from fraud and providing support for them to grow and create jobs.”

  • Submitted on 15 November 2010

    Forum aims to expand bilateral trading relationships among nations of the Western Hemisphere

    WASHINGTON (November 5, 2010) – David A. Hinson, national director of the Minority Business Development Agency (MBDA) at the U.S. Department of Commerce will moderate the “Social Inclusion through Entrepreneurship” panel at the Americas Competitiveness Forum (ACF) in Atlanta on Monday.