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Press Releases


  • Submitted on 17 February 2011

    Minority businesses are fastest-growing segment of U.S. business community

    Washington, D.C. (February 16, 2011) – The Minority Business Development Agency (MBDA) today outlined President Obama’s fiscal year (FY) 2012 budget proposal in support of the fastest growing segment of the U.S. business community – minority-owned businesses.  The budget would enable MBDA to offer more efficient programs and services to minority businesses and increase its presence in more communities across the country.

    Over the last decade, the growth of minority-owned businesses has exceeded that of non-minority-owned businesses, yet there are still significant opportunities to expand both the number and size of these firms. Minority-owned firms present a unique competitive advantage in exporting and have the potential to greatly impact the national economy. 

    The President’s FY 2012 budget proposal requests $32.3 million for MBDA to expand its services and assistance to the nation’s 5.8 million minority businesses.  This represents an increase of $822,000 over FY 2010 appropriations. MBDA currently funds more than 45 minority business centers in 26 states, the District of Columbia and Puerto Rico that provide a variety of services to minority-owned firms, including business consulting, procurement matching, and private equity and venture capital sourcing.  Additional funding in the FY 2012 budget would allow MBDA to open two additional minority business centers, extending the agency’s services to more minority businesses. The centers would also be better equipped to deliver broader business resources to its clients by leveraging new partnerships with the Commerce Department’s CommerceConnect and other regional organizations. 

  • Submitted on 08 February 2011

    African American businesses still small and underrepresented based on population

    WASHINGTON (February 8, 2011) – The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) and the U.S. Census Bureau today announced that the number of African American-owned firms increased by 60.5 percent between 2002 and 2007 to 1.9 million firms, according to new 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 between 2002 and 2007.

    “We are encouraged by the overall growth of the minority business community, including African American-owned businesses, but we still have a lot of work to do,” said MBDA National Director David A. Hinson. “Creating new businesses and new jobs on a path to entrepreneurial parity in size, scope and capacity is our primary goal.”

    While minority-owned firms are experiencing substantial growth, African American-owned businesses still only represent 7 percent of all classifiable firms but 12 percent of the adult population.  In 2007, average gross receipts for African American-owned firms actually decreased by 3 percent from $74,000 per firm in 2002 to $72,000. Gross receipts for all minority-owned firms are still well below the average gross receipts for non-minority-owned firms, which averaged $490,000 in 2007.

  • Submitted on 28 January 2011

    Senator Casey and Director HinsonFriday, January 21, 2011

    PHILADELPHIA, PA – U.S. Senator Bob Casey (D-PA) joined David Hinson, National Director of the Minority Business Development Agency, to meet with minority business leaders and small business owners from Philadelphia to discuss ways in which Congress and the federal government can stimulate growth of minority businesses in Philadelphia and the Commonwealth. Senator Casey discussed legislation to protect minority and women-owned businesses and help them succeed in creating jobs in Pennsylvania.

    “I am pleased to be joined today by Director Hinson as we discuss issues vital to business owners in Philadelphia,” said Senator Casey.  “Especially in the current economic climate, supporting small businesses is vital to our economic recovery.  Today we had a great dialogue on how we can help small and minority-owned businesses by protecting them from fraud and providing support for them to grow and create jobs.”

  • Submitted on 15 November 2010

    Forum aims to expand bilateral trading relationships among nations of the Western Hemisphere

    WASHINGTON (November 5, 2010) – David A. Hinson, national director of the Minority Business Development Agency (MBDA) at the U.S. Department of Commerce will moderate the “Social Inclusion through Entrepreneurship” panel at the Americas Competitiveness Forum (ACF) in Atlanta on Monday.

  • Submitted on 04 November 2010

    Secretary Locke and Director HinsonCouncil will support continued growth of the minority business community

    U.S. Commerce Secretary Gary Locke today announced the appointment of 25 individuals to serve on the newly established National Advisory Council for Minority Business Enterprises.  The advisory council, led by the Commerce Department’s Minority Business Development Agency (MBDA), is the first council focused on promoting the minority business community since the early 1970s. 

    The new council will provide advice and recommendations to Locke and the administration on a broad range of policy issues affecting the minority business community as part of the Obama administration’s focus on creating new jobs and strengthening the U.S. economy.  Recent Census data show that the number of minority-owned firms is growing at a significant rate, yet the gap in revenue between minority-owned and non-minority-owned firms is substantial.  Disparities in access to capital have also been recently documented in a report commissioned by MBDA.   

  • Submitted on 30 September 2010

     MBDA Announces Funding Opportunity to Operate 30 Business Centers
    Across the United States and Puerto Rico

    Business Centers will partner with MBDA to extend efforts to support the growth and competitiveness of minority-owned businesses

    WASHINGTON (September 29, 2010) - The Minority Business Development Agency (MBDA) announced a nationwide competitive solicitation for applications for candidates to operate 30 Business Centers throughout the country. The Centers will provide strategic business consulting services to help increase financing, public- and private-sector contracting opportunities and related awards to minority businesses, creating and retaining jobs and growing minority-owned firms.

    “Our goal is to create the foundation for the next generation of $100 million minority-owned firms,” said David A. Hinson, MBDA’s national director. “These Business Centers will be the service delivery providers that will help us reach that goal. The Center operators will be key partners in achieving MBDA’s mission and assisting minority-owned firms as they strive to grow to size, scale and capacity to compete both domestically and internationally.”

  • Submitted on 21 September 2010

    Hispanic-owned businesses outpace growth of non-minority-owned firms, but are still underrepresented based on population

    WASHINGTON (September 21, 2010) – The U.S. Commerce Department’s Minority Business Development Agency (MBDA) and the U.S. Census Bureau today announced that the number of Hispanic-owned firms increased by nearly 44 percent between 2002 and 2007 to 2.3 million, according to data from the U.S. Census Bureau’s 2007 Survey of Business Owners. Employment at these firms also grew by 26 percent from 1.5 million to 1.9 million workers, significantly higher than that of non-minority-owned firms.

    “It is encouraging that the Hispanic business community is growing, but we need to create the right conditions for Hispanic-owned businesses to grow more quickly,” MBDA’s National Director David A. Hinson said.  “We encourage Hispanic-owned businesses to explore new markets and take advantage of their existing cultural, family or business ties in foreign countries to export as a means to grow and compete in today’s global economy.”

  • Submitted on 17 September 2010

    Heyward DavenportMBDA Northeast Regional Director Recognized for a Lifetime Dedicated to Promoting the Minority Business Community

    Heyward Davenport to receive the Minority Business Activist Award at the CBCF 2010 Minority Business Awards Reception

    WASHINGTON (September 17, 2010) - The Minority Business Development Agency (MBDA) is proud to announce that Mr. Heyward Davenport, MBDA’s Northeast Regional Director, will receive the Minority Business Activist Award at the Congressional Black Caucus Foundation’s 40th Annual Legislative Conference 2010 Minority Business Awards Reception held tonight at the Washington Convention Center from 7:30 p.m. to 10:30 p.m..

    “Heyward Davenport is extremely deserving of this award,” said David A. Hinson, MBDA National Director. “He is being recognized not just for his impact as an individual, but for the overall affect he has had on the minority business community, from his guidance on minority programs at federal, state and local government agencies to his influence on and work with numerous non-profit organizations focused on creating jobs and opportunities for minorities.”

  • Submitted on 23 August 2010

    WASHINGTON (August 18, 2010) – Today the Minority Business Development Agency (MBDA)  announced that Ronald R. Davenport, chairman of Sheridan Communications Corporation and co-chair of the American Urban Radio Networks, has been selected as the winner of the 2010 Ronald H. Brown Leadership Award.  The award will be presented at an awards gala on Friday, August 27, at 7:00 pm at the Omni Shoreham Hotel in Washington, D.C. during the annual Minority Enterprise Development (MED) Week Conference. U.S. Deputy Secretary of Commerce Dennis Hightower and MBDA National Director David A. Hinson will participate in the awards presentation.

    The Ronald H. Brown Leadership Award recognizes individuals who are willing to take risks and innovate to achieve change and have demonstrated exceptional leadership by significantly enhancing the development of diversity in the domestic and global economies.  The award is named in honor of Ronald H. Brown, the first African American Secretary of Commerce.

  • Submitted on 23 August 2010

    WASHINGTON (August 16, 2010) - The Minority Business Development Agency (MBDA) today announced it will honor Richard Rizzo, vice chairman of the Perini Building Company, with the Abe Venable Award for Lifetime Achievement at an awards gala Friday, August 27, 2010, at 7:00 p.m. at the Omni Shoreham Hotel in Washington, D.C. during the annual Minority Enterprise Development (MED) Week Conference. U.S. Deputy Secretary of Commerce Dennis Hightower and MBDA National Director David A. Hinson will participate in the awards presentation.

    “Dick Rizzo’s leadership is the guiding force behind the success of Perini’s diversity initiatives,” Hinson said.  “It is his vision and commitment behind Perini’s choice to include minority-owned firms in their global supply chain, and we are proud to honor him for his lifetime dedication to the success of the minority construction industry.”

Did you know...

Between 2002 and 2007, minority-owned firms outpaced the growth of non-minority firms in gross receipts, employment, and number of firms. Minority firms are an engine of job creation.
Graph for MBE Growth

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