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News and Announcements


  • Submitted on 13 April 2011

    Helping U.S. companies grow and create new American jobs is a singular priority for all of us in the Commerce Department and the Obama Administration. 

    Secretary LockeBut you can’t do it all from Washington, DC. You’ve got to get out and hear from the entrepreneurs and business owners doing the producing, innovating and hiring in our economy. That’s a lot what I've been doing as Commerce Secretary. In the last few weeks alone, I’ve met with business leaders in Minneapolis, Columbus, Dallas and Los Angeles.

    These business leaders understand the challenges and opportunities in today's global economy. And trust me, they aren't shy about suggesting what they want to see more of -- or less of -- from Washington.

    This type of business outreach has been occurring throughout the administration, but now, it’s being taken to the next level.  Yesterday, 130 senior officials from dozens of agencies throughout the Obama administration met to kick off a series of “Winning the Future Roundtables with American Businesses.”

    Starting today, with events in Ann Arbor, Michigan and Tucson, Arizona, Obama administration officials will be visiting at least 100 communities in all 50 states to hear from businesses across America, and they’ll bring what they hear back to Washington.

    The two main goals of these roundtables are to:

    • Obtain feedback from American businesses on the effectiveness of federal resources and programs and how they can be further improved; and

    • Provide information to American businesses about Administration policy and the resources and programs available to support their growth and success.

    In short, we'll be hearing from business owners about what's working, what isn’t and where we need to focus our economic policymaking in 2011 and beyond. We’ll be making sure that we aren’t leaving jobs on the table because businesses don’t know about programs and resources that can support their growth and success.

  • Submitted on 29 March 2011

    American Indian and Alaska Native Business Growth and Global ReachThe number of American Indian and Alaska Native owned businesses increased by 18 percent between 2002 and 2007 to 236,967 firms, according to data from the U.S. Census Bureau’s 2007 Survey of Business Owners. American Indian and Alaska Native owned businesses generated $34.4 billion in receipts in 2007, a 28 percent increase from 2002.

    American Indian and Alaskan Native-owned firms grew in gross receipts, yet their paid employment decreased or remained stagnant at best.  Only 10% of all American Indian and Alaskan Native-owned firms have employees.  MBDA’s goal is to help firms in emerging industries and with the potential for size and scale grow as well as encourage job creation among these firms.
     

  • Submitted on 11 March 2011

    Middle Market M &A: Global Opportunity in 2011 and Beyond

    The Alliance of Merger & Acquisitions Advisors and the International Society of Primerus Law Firms announce the 3rd Global M&A Symposium: The New Economics for the Private Middle Market scheduled May 10-12, 2011 in London. One of the many featured speakers at this event is the National Director of the Minority Business Development Agency, U. S. Department of Commerce, David Hinson. His keynote presentation highlights: "Undiscovered Markets in the U.S. - The Power of the Minority Business Community"

    Chicago, IL (PRWEB) March 3, 2011

  • Submitted on 08 February 2011

    African American-Owned Business Growth and Global Reach The number of African American owned firms increased by 61 percent between 2002 and 2007 to 1.9 million firms, according to 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 which grew employment less than one percent.

    “We are encouraged by the overall growth of the minority business community, including African-American-owned businesses, but we have a lot of work to do, especially to increase gross receipts,” said David A. Hinson, National Director at MBDA. “Reaching entrepreneurial parity in size, scope and capacity is our primary goal.”

  • Submitted on 24 January 2011

    Recent Media Coverage - Miami Beach News

    Good morning! Thank you for the kind introduction.

    It is my honor and privilege to be here with you today at this first quarterly Pillar Breakfast of the New Year! Miami Beach has always been one of my favorite locations.

    While I and so many others love the beautiful beaches, restaurants and shopping, those of you assembled here who are business owners, politicians, and others who are heavily invested in sustaining the local economy know that – Miami Beach is much more than just a great destination, it is also a vital gateway.

    That critical gateway to the U.S. from international communities is an essential part of the South Florida regional economy.

  • Submitted on 24 January 2011

    Additional business resources named for African-Americans include:  Black Enterprise Magazine, Minority Business Entrepreneur (MBE) Magazine, Black Enterprise Entrepreneurs Conference, FraserNet PowerNetworking Conference, National Black Chamber of Commerce, “Black Business Secrets” by Dante Lee, The Network Journal, National Black Business Council (NBBC) and National Minority Franchising Initiative (NMFI).

    Read the complete article on blacknews.com.

  • Submitted on 29 November 2010

    The U.S. Bureau of Labor Statistics just released the latest details on the American job market. The report mixed good news with bad — private-sector firms created 159,000 new jobs in October, but the unemployment rate remains persistently high, at 9.6 percent.

    Policymakers continue to search for ways to help those looking for work to find jobs. The minority business community should be at the center of that conversation.

    Minority firms have been an engine of job growth for the U.S. economy in recent years, outpacing growth within the general business community for most of the last decade.

  • Submitted on 18 November 2010

    National Deputy Director CastilloImpact and influence were among the key criteria used to rank Alejandra Castillo, MBDA’s National Deputy Director, among the 100 Most Influential Hispanics in America. She recently received the honor from Hispanic Business magazine. Its special issue highlighted Castillo among others in, “The 100 Influentials: Spotlight on Thought Leaders.”

    “This is a great honor and MBDA is extremely proud of Ms. Castillo,” said MBDA National Director David A. Hinson. “She continues to make her mark in government and in touching a significant number of minority business owners through her diligent work.”

  • Submitted on 01 October 2010

    National Deputy Director Castillo

    Good Afternoon. 

    I want to thank our hosts for inviting the Minority Business Development Agency, a sister bureau of the Census Bureau, to be a part of today’s important announcement.

    The Minority Business Development Agency is thrilled that the Hispanic business community, and the minority business community as a whole, is showing a significant rate of growth compared to non-minority businesses.

    The figures released today show that Texas is a major contributor to the surge in the creation and growth of Hispanic-owned firms nationwide.  You can be proud to be a leader in Hispanic entrepreneurship, job creation, and business prosperity.

  • Submitted on 21 September 2010

    Hispanic-Owned Firms Outpace Growth of Non-Minority-Owned FirmsThe number of Hispanic-owned businesses increased nearly 44 percent to 2.3 million between 2002 and 2007, more than twice the national average of all U.S. businesses.  The total number of U.S. businesses during the same period increased 18 percent to 27.1 million.  

    But if parity were reached, there would be 3.4 million Hispanic-owned firms generating $1.4 trillion in gross receipts and employing 7.5 million workers.

    • Between 2002 and 2007, the number of Hispanic firms grew by 44 percent to 2.3 million firms, compared to 18 percent for all U.S. firms, and compared to 18 percent growth for the Hispanic population during the same period.

    • Hispanic-owned firms employed approximately 1.9 million workers in 2007, up from 1.5 million in 2002, increasing at a rate of 26 percent compared to no change at non-minority-owned firms.

    • Receipts for Hispanic-owned firms increased 56 percent to approximately $345 billion.

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The percentage of clients with annual revenues in excess of $500,000 increased over the last five fiscal years.
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