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  • Submitted on 29 May 2012

    $26 Million Multi-Agency Advanced Manufacturing Jobs and Innovation Accelerator Challenge

    The Obama Administration announces a $26 million Advanced Manufacturing Jobs and Innovation Accelerator Challenge, a partnership between the U.S. Department of Commerce’s Economic Development Administration and National Institute of Standards and Technology, the U.S. Department of Energy, the U.S. Department of Labor’s Employment and Training Administration, the Small Business Administration, and the National Science Foundation. This initiative will assist the development and implementation of regionally-driven economic development strategies that support advanced manufacturing and cluster development. In addition to the six partnering agencies, the initiative will leverage technical assistance from up to eight other Federal agencies.

  • Submitted on 15 May 2012

    The federal government issued on May 9 a solicitation for proposals from teams led by non-profit organizations or universities to establish an Additive Manufacturing Innovation Institute, which would serve as a pilot—or proof-of-concept prototype—for President Obama's proposed National Network for Manufacturing Innovation (NNMI).

  • Submitted on 08 May 2012

    Immigrants make a significant contribution to business ownership and formation, according to a new study from the Office of Advocacy. Immigrant Entrepreneurs and Small Business Owners, and their Access to Financial Capital found that 10 percent of immigrants own a business. Nearly 20 percent of immigrant-owned businesses started with $50,000 or more in startup capital, compared to 15.9 percent for non-immigrant-owned business. The study uses data from the 2007 U.S. Survey of Business Owners and the 1996-2010 Current Population Survey.

    “Immigrant entrepreneurs are essential to our nation’s growth and economic prosperity,” said Chief Counsel for Advocacy Winslow Sargeant. “Immigrant entrepreneurs make our nation more competitive and serve as reminders of the American dream.”

    The most common source of startup capital for immigrant-owned businesses is personal or family savings, with roughly two-thirds of businesses reporting this source of startup capital. Other commonly reported sources of startup capital by immigrant-owned businesses are credit cards, bank loans, personal or family assets, and home equity loans. Overall, the sources of startup capital used by immigrant-owned businesses do not differ substantially from those used by non-immigrant-owned firms.

  • Submitted on 08 May 2012

    Quarter by quarter, small businesses with fewer than 500 workers continued to outperform large firms in net job creation three out of four times from 1992 through 2010, when private-sector employment rose, according to data in the latest edition of The Small Business Economy.

    The newest edition is formatted to improve the accessibility of the data in an online series of tables on small business in the economy and small business financing. This rich collection of information about small business contributions to the economy and trends over time is offered this year, for the first time, in tabular form online in place of the paperback report.

  • Submitted on 25 April 2012

    Nominations are now being accepted for the Minority Business Development Agency's 2012 Minority Business of the Year Awards Program. The awards are designed to recognize exemplary minority businesses and their accomplishments and best practices.

    The deadline for submission of the 2012 National Minority Business of the Year Awards nominations has been extended to Monday, July 2, 2012.

    Download BrochureThe MBDA National Minority Business of the Year Awards Program is designed to celebrate and recognize the outstanding achievements of minority entrepreneurs, as well as individuals and organizations that have demonstrated leadership and commitment in advancing minority business enterprise.

    The diversity of the awardees, as it pertains to the constituency served by MBDA, is a key objective of the MED Week Awards Program.

    The awards are commemorative and will be given in the following categories:

    • Access to Capital Award

    • Minority Export Firm of the Year

    • Minority Manufacturer of the Year

    • Ronald H. Brown Leadership Award

    • Abe Venable Legacy Award for Lifetime Achievement

    The award winners will be announced in early August and the recipients will be presented with their award at the National Minority Enterprise Development (MED) Week conference scheduled for September 25-26, 2012 in Washington, DC. MBDA will contact winners by phone and may post their names, pictures and biographies on this website and MED Week Conference website.

  • Submitted on 16 April 2012

    Percent of All Exporter FirmsMinority Business More Likely to Export

    Exporting is good for American business, good for American workers and good for American jobs. Ninety-five percent (95%) of the world’s customers lie outside the United States and Minority Business Development Agency is committed to working with U.S. companies to help American-made goods and services succeed in the global market.

    Export Sales

    Minority businesses have a competitive advantage in global trade based on their cultural ties, language skills and nimbleness. The 2007 Survey of Business Owners reveals that among firms with export sales representing 20 percent or more of their overall receipts, minority-owned businesses are twice as likely to export compared to non-minority firms. In addition, minority firms are more than three times as likely to have businesses generating 100 percent of all their sales in exports compared to non-minority respondent firms. This finding is quite substantial because it can support the Administration’s goal of doubling the nation’s exports by the end of 2014. Minority businesses can play an important role in meeting that goal through exports.

  • Submitted on 06 April 2012

    President Barack Obama signs the Jumpstart Our Business Startups (JOBS) Act, which includes key initiatives the President proposed last fall to help small businesses and startups grow and create jobs, in the Rose Garden of the White House, April 5, 2012. (Official White House Photo by Pete Souza) THE PRESIDENT:  Thank you.  (Applause.)  Hello, everybody.  Please, please have a seat.  Good afternoon.  I want to thank all of you for coming, and in particular, I want to thank the members of Congress who are here today from both parties, whose leadership and hard work made this bill a reality.

    One of the great things about America is that we are a nation of doers -- not just talkers, but doers.  We think big.  We take risks.  And we believe that anyone with a solid plan and a willingness to work hard can turn even the most improbable idea into a successful business.  So ours is a legacy of Edisons and Graham Bells, Fords and Boeings, of Googles and of Twitters.  This is a country that’s always been on the cutting edge.  And the reason is that America has always had the most daring entrepreneurs in the world.

    Some of them are standing with me today.  When their ideas take root, we get inventions that can change the way we live.  And when their businesses take off, more people become employed because, overall, new businesses account for almost every new job that’s created in America.

  • Submitted on 08 March 2012

    Jobs & Innovation Accelerator ChallengeThe Obama Administration today announced a $15 million multi-agency Rural Jobs and Innovation Accelerator challenge to spur job creation and economic growth in distressed rural communities. This competition, which is being funded by the U.S. Department of Commerce's Economic Development Administration (EDA), the U.S. Department of Agriculture (USDA), the Delta Regional Authority (DRA), and the Appalachian Regional Commission (ARC), was designed by the Taskforce for the Advancement of Regional Innovation Clusters and the White House Rural Council.

    President Obama recently announced the challenge as part of the Administration's "We Can't Wait" efforts to strengthen the economy, create jobs and support business growth, particularly expanding opportunity for rural Americans and supporting new and innovative businesses nationwide.

  • Submitted on 08 March 2012

    Secretary John BrysonU.S. Commerce Secretary John Bryson delivered remarks at 2012 Executive Council Winter Session of the National Congress of American Indians (NCAI), the oldest and largest national representative of Tribal Nations in the United States. Bryson spoke about Commerce Department initiatives to promote exports, job creation and infrastructure in Indian Country. 

    This administration is proud to partner with NCAI in the effort to forge new links between government and Indian country on behalf of Native American communities. At the Commerce Department, we have a host of programs where Commerce and Native American communities are working together to bring jobs and opportunities to Indian country:

  • Submitted on 22 February 2012

    Initiative Aims to Foster National Teaming Arrangements with Alaskan Native Corporations

    David A. Hinson, National Director of the Minority Business Development Agency (MBDA) at the U.S. Department of Commerce joined Mayor Dan Sullivan at a press conference and ribbon cutting ceremony to open a new satellite center on Tuesday, February 21, 2012. The new satellite center is designed to help minority-owned firms both in Alaska and throughout the country create and retain jobs, increase size, scale and capacity, and build globally competitive firms.


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