Posted at 6:15 AM
As we celebrate Native American Heritage Month the Minority Business Development Agency would like to pay tribute to the rich ancestry and traditions of Native Americans. While we take great pride in honoring their many accomplishments and contributions to American society, I want to highlight their contributions to the U.S. economy and the minority business community. Here are some quick facts about the Native American business community:
There are 236,000 Native American-owned firms in the U.S.
10 percent have paid employees (average 8 per firm), and over $1.2 million in annual receipts.
This sector generates $34.4 billion in annual economic output.
Native American-owned firms employ 185,000 workers.
MBDA continues to invest in Indian Country to support job creation and economic development through the operation of MBDA Business Centers in states with large American Indian populations. MBDA now has six centers addressing the unique economic challenges and opportunities in Indian Country. The centers are located in Alaska, California, Connecticut, North Dakota, New Mexico, and Oklahoma.
In Fiscal Year 2012, MBDA Business Centers helped Native American-owned businesses access $320 million in contracts and capital. During the first term of the Obama Administration, MBDA assisted 2,850 Native America-owned businesses with obtaining $1.4 billion in contracts and capital—a 53 percent increase over the prior 4-year period.
Visit the MBDA Business Centers focused on the American Indian business community to learn more.