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Created on November 17, 2014 |
The Minority Business Development Agency is the only federal agency dedicated to the growth and global competitiveness of U.S. minority-owned businesses; and most of our work is accomplished through our nationwide network of MBDA Business Centers and their work directly with the nation’s MBEs. While, we often report their successes in terms of contracts and capital obtained for MBEs, we rarely talk about how they do it. With this business center profile we hope to give you an inside look at one of our 44 Centers—the Washington, DC MBDA Business Center.
Washington DC MBDA Business Center is one of four serving the Baltimore and Washington, DC metropolitan area MBEs.
Led by Project Director Michael Bing, the Washington DC MBDA Business Center is known for their innovative approach to business development. In 2013, the Center developed and successfully launched a peer-to-peer business development cost-share program that creates portfolios consisting of no more than five firms that vary in size, but offer similar services based on their North American Industry Classification System (NAICS) Codes.
Teams are also developed to ensure that member firms have differentiators, such as varying certifications (minority-, woman-, veteran-owned, and HUBZone), making them eligible for more contracting opportunities when paired with one or more firms on their team. Each team is assigned to the same business development specialist, who ensures that each firm is provided with a specific number of pre-vetted opportunities, along with customized consulting services and assistance with capture management, business development, procurement assistance, access to sources of capital, proposal development services, and more.
The Washington DC MBDA Business Center team also prides itself on its holistic approach to business development. Before taking on a new client, the team conducts a comprehensive analysis that includes researching the firm, their competition, and the regional industry outlook. A potential client is not confirmed until the team is certain that there are solid opportunities and that they can contribute to the firm’s growth and expansion. The Center also takes into consideration its strengths and industry breakdown of their client portfolio—15 percent construction, 75 percent technology, and the remaining 10 percent made up of multiple industries.
The DC MBDA Business Center is positioned for continuous success in supporting the growth and sustainability of minority-owned businesses.
Posted at 8:15 AM
MBDA Agency
