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News and Announcements

  • Submitted on 13 May 2015

    The Office of Advocacy released Demographic Characteristics of Business Owners and Employees: 2013, the second annual issue brief on business owner demographics. This year’s issue brief includes not only characteristics of business owners, but also how they differ from employees. This comparison is important for measuring the overall economic well-being of the economy including the economic incentives for entrepreneurship.

    Download Issue Brief

  • Submitted on 11 May 2015

    The Presidential Ambassadors for Global Entrepreneurship (PAGE) initiative was created to develop the next generation of entrepreneurs both at home and abroad. President Obama launched the initiative last April in the Roosevelt Room at the White House.

    In the initiative’s first year, PAGE members utilized their knowledge, ideas, and talent to inspire and empower the next generation of entrepreneurs both at home and around the world, by using their voice and platforms to deliver on the program’s mission.

  • Submitted on 05 May 2015

    The rich heritage of Asian Americans, Native Hawaiians, and Pacific Islanders spans the world and the depths of America's history.  Generation after generation, Asian Americans and Pacific Islanders have forged a proud legacy that reflects the spirit of our Nation -- a country that values the contributions of everyone who calls America home.  During Asian American and Pacific Islander (AAPI) Heritage Month, we honor the perseverance of those who courageously reached for their hopes and dreams in a new land, and we celebrate the important impact the AAPI community has made on our Nation's progress.

  • Submitted on 24 April 2015

    For small business owners and entrepreneurs to build, grow, and support their business, it takes capital, and today, many of these individuals are choosing alternative forms of capital. One popular avenue is crowdfunding. Crowdfunding systems enable users to make investments in various types of projects and ventures, often in small amounts, outside of a regulated exchange, using online social media platforms that facilitate direct interaction between investors as well as with the individual(s) raising funds.”1 There are three basic types of crowdfunding. Money is given in exchange for a clearly defined good (reward), a piece of the venture (equity), or a loan agreement (peer-to-peer). Typically, these three types of crowdfunding occur on different types of websites or platforms. Today, crowdfunding is steadily reaching critical mass as it is now estimated to be worth $3 billion to $5 billion worldwide.2

  • Submitted on 14 April 2015

    The U.S. Department of Commerce’s Economic Development Administration (EDA) and International Trade Administration (ITA), in coordination with the Organization of American States (OAS) and the U.S. Department of State, announced the 48 participants from 28 countries in the Americas and 41 sites that will participate in the third Americas Competitiveness Exchange (ACE) on Innovation and Entrepreneurship. The ACE is the ideal opportunity for commerce and economic development officials to establish long-term global and regional partnerships and to see the results of economic development initiatives in the Americas that are strengthening innovation and entrepreneurship ecosystems. 

  • Submitted on 09 April 2015

    U.S. Deputy Secretary of Commerce Bruce Andrews today announced that the U.S. Department of Commerce is partnering with the Inter-American Development Bank (IDB) to make it easier for small and medium-sized businesses (SMEs) throughout the Western Hemisphere to enter new markets and grow. Deputy Secretary Andrews made the announcement with IDB President Louis Alberto Moreno at the Seventh Summit of the Americas in Panama.

  • Submitted on 25 March 2015

    Award Competitions for Hollings Manufacturing Extension Partnership (MEP) Centers in the States of Alaska, Idaho, Illinois, Minnesota, New Jersey, New York, Ohio, Oklahoma, Utah, Washington, West Virginia and Wisconsin

  • Submitted on 19 March 2015

    DyNAMC Speaks with our Nation's Prominent Policy Influencers  Alejandra Y. Castillo is the first Hispanic-American woman to lead the Minority Business Development Agency (MBDA) at the U.S. Department of Commerce. Ms. Castillo serves as the National Director of the MBDA with a conviction that reflects her passion for success for minority businesses. In our exclusive interview with Ms. Castillo, she shared with DyNAMC her clear understanding of the scope of the challenges and the necessary solutions to bring minority businesses into the forefront of global competition.

  • Submitted on 02 March 2015

    Summit Attendees with the SecretaryThe U.S. Commerce Department’s Minority Business Development Agency (MBDA) hosted the MBDA Stakeholder Summit at the Gallup Center in Washington, D.C. on Feb. 25.

    The closed meeting assembled the Agency’s national strategic partners to discuss several topics that included the state of minority businesses in the 21st century, the future of the minority business landscape, emerging opportunities, and access to capital for minority business enterprises (MBEs).  

    U.S. Secretary of Commerce Penny Pritzker welcomed the group and encouraged the participants to ensure the United States remains open for all of our country’s businesses.

  • Submitted on 25 February 2015

    Wednesday, February 25, 2015
    News Media Contact:
    Office of Public Affairs, 202-482-4883

    Remarks as Prepared for Delivery

    U.S. Secretary Penny PritzkerThank you, Alejandra, for the kind introduction and the outstanding job that you, Albert Shen, and the MBDA team are doing for the minority business community and for our country. 

    I recognize that assembling this esteemed group of thought leaders, issue experts, business leaders and entrepreneurs was no easy feat. And I want to thank all of you for joining this MBDA Stakeholder Summit. 

    Today is about YOU: hearing your ideas, gaining your insights, and developing a plan of action that empowers more minority firms to grow and thrive in the global economy. 

    In the past year, our businesses have created over 3 million jobs; unemployment is down; exports are at all-time highs; and GDP is growing at a steady pace. 

    However, President Obama’s vision for our economy will remain unfulfilled until our prosperity extends to all businesses across America – especially minority-owned firms. 

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