WASHINGTON (Aug. 5, 2016) —The U.S. Department of Commerce Minority Business Development Agency (MBDA) today announced the Chicago Minority Supplier Development Council, Inc. as a grant recipient to operate a MBDA Business Center in St. Louis.
The federal funding ($285,400) will be distributed during a five-year period with a proposed start date of September 1, 2016.
The grant program is designed to help minority-owned firms across the nation create jobs, develop their business, and compete in the global economy.
A key component of MBDA’s Business Center Network is providing minority firms with access to technical expertise and resources to grow their businesses.
MBDA National Director Alejandra Y. Castillo received the National Urban League’s “Women of Power Award” at the Women of Power & Business Leaders Awards Luncheon on Aug. 4 at the Baltimore Convention Center.
Between 2007 and 2012, the number of U.S. businesses owned by Asian-Americans rose 23.8 percent, from 1.5 million to 1.9 million.
In contrast, the total number of all U.S. firms increased only 2.0 percent during the same period, from 27.1 million to 27.6 million. As a result, 6.9 percent of all businesses were Asian-owned in 2012, up from 5.7 percent five years earlier. Asian business ownership is defined as having persons of Asian Indian, Chinese, Filipino, Japanese, Korean, Vietnamese or other Asian origin (such as Hmong, Laotian, Thai, Pakistani or Cambodian) owning 51.0 percent or more of the stock or equity in a nonfarm business operating in the United States. According to U.S. Census Bureau population estimates, Asians accounted for 5.8 percent of the 18 or older population in 2012. Censuses and surveys permit respondents to select more than one race; the 5.8 percent figure pertains to those who said they were either Asian only or Asian in combination with one or more other races.
As part of the U.S. Department of Labor’s historic investments in the ApprenticeshipUSA initiative, the department’s Employment and Training Administration announced it is seeking to award three to five contracts to workforce intermediaries, including community-based organizations; labor organizations; or workforce, industry and education organizations to develop national or regional “opportunity partnerships.”
MBDA National Director Alejandra Y. Castillo will receive the National Urban League’s “Women of Power Award” at the Women of Power & Business Leaders Awards Luncheon on Aug. 4 at the Baltimore Convention Center.
The luncheon is part of the 2016 National Urban League Conference: Save our Cities: Education, Jobs and Justice. The award is presented to influential women in the civil rights, government, entertainment, journalism, sports, and corporate sectors.
Past winners include MSNBC/NBC Anchor Tamron Hall, Professional Boxer Laila Ali, U.S. Ambassador to the United Nations Susan E. Rice, Dr. Valerie Montgomery Rice, President, Morehouse School of Medicine and hip-hop legend, entrepreneur and philanthropist, MC Lyte.
MBDA Associate Director for the Office of Legislative, Education, and Intergovernmental Affairs Justin Tanner, will receive the 2016 National Urban League Young Professional Honors: Heroes in the Movement Award, at the Baltimore Convention Center Aug. 6.
The award is designed to recognize the philanthropic and professional contributions of young professionals.
The award’s ceremony is part of the 2016 National Urban League Conference: Save our Cities: Education, Jobs and Justice.
The Minority Business Development Agency (MBDA) is honored to celebrate Minority Enterprise Development (MED) Week in partnership with the National Minority Supplier Development Council, Inc. at the 2016 NMSDC Conference and Business Opportunity Exchange.
The 2016 National MED Week celebration, recognized at the NMSDC Conference, will feature several Powered by MBDA workshops and seminars that focus on federal programs and recognize the 34th Annual National MED Week Award Winners.
Partnership Positions MBDA Business Centers to Offer Streamlined Lending Process
Provides Minority Business Enterprises with Enhanced Financing Options
WASHINGTON DC and NEW YORK – July 21, 2016 – The U.S. Department of Commerce Minority Business Development Agency (“MBDA”) and Fundation Group LLC announced today a memorandum of understanding (MOU) designed to provide U.S. minority business enterprises (MBEs) with cutting edge, digitally enabled financing solutions and expanded access to capital.
MBDA, a bureau of the U.S. Department of Commerce, currently operates a national network of 38 business centers equipped with specialists who help the nation’s minority-owned businesses grow. Center specialists assist clients with access to capital, contracts, and new markets opportunities to create new jobs.
The number of U.S. businesses grew 2 percent between 2007 and 2012 as the country weathered the financial crisis and entered the first three years of economic recovery. Yet, while overall business growth over this period was muted, growth in the number of minority-owned firms boomed. According to data from the Census Bureau's Survey of Business Owners, the number of minority-owned firms jumped by 38 percent to 8 million.
U.S. Secretary of Commerce Penny Pritzker released the second set of Top Markets Reports that provides the latest assessment of export opportunities for U.S. companies in 19 sectors. As part of the International Trade Administration’s (ITA) Top Markets Serieslaunched in 2015, the report ranks future export markets within a particular industry, delivering in-depth commentary on key opportunities, trends, and challenges facing U.S. companies looking to expand their businesses and export globally.