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News and Announcements

  • Submitted on 15 February 2012

    The Budget provides $29 million for the MBDA, through their network of Minority Business Enterprise Centers, to support the ability of minority businesses to grow and participate in the global economy.  MBDA's FY 2013 Budget in Brief

  • Submitted on 15 February 2012

    The month-long celebration of Dominican Heritage in February got off to a distinctly female start this past Wed., Feb. 1st at Eugenia María de Hostos Community College in the Bronx.

    Dominican and Dominican-American women from various fields of government, finance, and business, arrived in the early morning at Hostos’s campus to share information on resources available to small business owners.

    It was a meeting of the minds in a forum entitled “A Small Business Seminar with Distinguished Dominican Women in Government,” which also offered more than its fair share of personal tales of immigrant families.

  • Submitted on 07 February 2012

    Data from the Department of Commerce reveal that minority-owned firms are an engine of job growth and are more likely to export than non-minority-owned firms. These firms account for $1 trillion in gross receipts and employ almost six million Americans. To bolster the economic impact of minority entrepreneurs across the county, the National Advisory Council on Minority Business Enterprise (NACMBE) was established in April 2010.  

  • Submitted on 03 February 2012

    The U.S. Small Business Administration kicked off its 2012 e200/Emerging Leaders executive-level training initiative in 27 cities and communities. Since 2008 the e200/Emerging Leaders initiative has helped nearly 1,000 promising small business owners in underserved communities across the country sustain and grow their businesses, providing training they use to succeed and create jobs.

    “Over the last few years Emerging Leaders has helped expand opportunities for many promising small businesses in underserved communities – in particular those that have been most impacted by these tough economic times,” SBA Administrator Karen Mills said. “Graduates of the program have increased their revenue, created jobs and helped drive local economic growth in their communities. Continuing with this year’s lineup of new classes builds on this success and provides even more entrepreneurs in underserved communities with the support, resources and skills to succeed.”

  • Submitted on 31 January 2012

    The Commerce Department’s Minority Business Development Agency (MBDA) presented a grant to SoCal Corporate Growth Partners for $1.775 million to operate a new MBDA Business Center in Riverside, California

    MBDA National Director David Hinson was joined by Riverside Mayor Ron Loveridge and Daniel Sieu, CEO & President of SoCal Corporate Growth Partners to celebrate the opening of the new Riverside MBDA Business Center, which will be operated over five years. 

  • Submitted on 25 January 2012

    US-Made Auto Parts

    In last night's State of the Union address, President Obama laid out proposals for how to bring about a new era of American manufacturing, with more good jobs and more products stamped Made in the USA.  A few of the proposals are:

    • Reward companies for bringing jobs back to America.

    • Lower tax rates for companies that manufacture and create jobs in the United States.

    • Get tough on trade enforcement.

    • Create more jobs and make us more competitive by rebuilding America using half of the savings from ending foreign wars.

    These proposals build upon the efforts already underway by the White House.

    At the Department of Commerce, we support manufacturers in a multitude of ways:

    The National Institute of Standards and Technology's Manufacturing Extension Partnership works with small and mid-sized U.S. manufacturers to help them create and retain jobs, increase profits, and save time and money. The nationwide network provides a variety of services, from innovation strategies to process improvements to green manufacturing. MEP also works with partners at the state and federal levels on programs that put manufacturers in position to develop new customers, expand into new markets and create new products.

  • Submitted on 10 January 2012

    Hispanic Executive Alejandra CastilloRaised between two worlds government executive Alejandra Castillo has come to accept - to leverage, even - her hyphenated Dominican-American background. Serving as national deputy director of the Minority Business Development Agency (MBDA), she fights doggedly to connect minority companies to business opportunities. It's a fitting role, as she has spent much of her life analyzing socioeconomic factors that affect ethnic communities and enterprises.

  • Submitted on 09 January 2012

    The International Franchise Association recently released new research on minority-owned, female-owned and joint female/male-owned franchise businesses. The report, Franchised Business Ownership, 2007: Minority and Gender Groups, prepared by the IFA Educational Foundation (IFAEF) and based on the U.S. Census Bureau's 2007 Survey of Business Owners, shows minority and joint ownership (female/male) of franchise businesses increased from 2002 to 2007, while female ownership declined.

    "Franchising offers opportunities for all Americans to go into business for themselves, but not by themselves," said IFA President & CEO Steve Caldeira. "Despite a continued challenging economic environment, franchising continues to offer opportunities for women and minorities to become small business owners, particularly when benchmarked against other industries."

  • Submitted on 09 January 2012

    Last week, President Obama signed a bill reauthorizing the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs for another six years.  This long-term reauthorization is good news for the innovative small businesses that these programs support.  SBIR and STTR invest about $2.5 billion a year in America’s most promising small research and development companies.  Through SBIR and STTR, federal agencies with large R&D budgets provide competitive awards to help small businesses bring their best innovations from the drawing board to the marketplace.  SBIR and STTR operate in three phases, providing support for research, development, and commercialization.

    Over the years, SBIR and STTR have played a role in the growth of firms like Qualcomm, Symantec, and others.  From 2002 to 2006, about 25% of R&D Magazine’s top 100 annual innovations came from companies that had received an SBIR grant at some point in their history.

  • Submitted on 09 January 2012

    While there can be debate about what it means, the unassailable fact is that Latino -owned businesses in the United States are growing at a blistering pace — in fact more than twice the national average.  This trend has been sustained for at least the last decade and manifests itself both in the growing number and size of Latino- owned businesses.  During the latest 5-year period for which information is available from the census bureau, Latino owned business’ revenue jumped by an astonishing 55% to nearly $350 billion. Some think that the census data underestimates the economic clout of Latino businesses, estimating the sales of such businesses in 2008 at $547 billion.  Many are very substantial businesses with numerous employees: the number of Latino- owned businesses with more than $1 million in revenue grew to over 44,000 in 2007, up from just 29,000 five years earlier.


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