The Minority Business Development Agency (MBDA) was originally established as the Office of Minority Business Enterprise by President Richard M. Nixon on March 5, 1969. By establishing a federal agency dedicated exclusively to minority business enterprise, President Nixon recognized the impact of minority businesses on the nation’s economy and on the general welfare of the country.
Executive Order 11625--Prescribing additional arrangements for developing and coordinating a national program for minority business enterprise
Source: The provisions of Executive Order 11625 of Oct. 13, 1971, appear at 36 FR 19967, 3 CFR, 1971-1975 Comp., p. 616, unless otherwise noted.
The opportunity for full participation in our free enterprise system by socially and economically disadvantaged persons is essential if we are to obtain social and economic justice for such persons and improve the functioning of our national economy.