The civil rights power broker talks about his new memoir and working with Martin Luther King Jr. and Richard Nixon.
In your new book, You Can’t Go Wrong Doing Right, you describe being a liaison between business and the civil rights movement in the ’60s. How did you persuade...
Robert F. Smith, the private equity billionaire who is the nation’s richest Black person, said on Thursday that large corporations should use 2% of their annual net income for the next decade to empower minority communities. Smith made the comments after circulating a plan among CEOs that first calls on big banks to capitalize the financial institutions that service Black-owned businesses and minority-run entrepreneurial ventures.
In a keynote address he gave at the Forbes 400 Summit on Philanthropy, Smith, 57, said Black and minority communities have been...
MBDA recently launched the Enterprising Women of Color Forum: The Virtual Series - a 4-week webinar series designed to promote resources and opportunities for women of color entrepreneurs. The virtual series is off to a great start with a community of women entrepreneurs tuned in each week to share ideas, new perspectives, and their formulas for being growth-ready...
With the future of small businesses...
ATLANTA – Yesterday evening, May 20th at 6:00 p.m. ET, Ashley D. Bell, SBA Regional Administrator and Entrepreneurship Policy Advisor for the White House Opportunity & Revitalization Council and Tip “T.I.” Harris, rapper, entertainer, and entrepreneur hosted a successful call for entrepreneurs across the South....
Guest blog post by Gabriela Morales, Senior Business Development Specialist, Minority Business Development Administration (MBDA)
I am excited to have the opportunity to be featured during Women’s History Month.
I am a Senior Business Development Specialist at the Commerce Department's Minority Business Development Agency. My job is to ensure minority-owned firms have adequate skills, tools, resources, and training to sell their products and services globally. Knowing there are 11 million Minority Business Enterprises (MBEs) nationwide, I come to work every day with...
Elon Musk, Steve Jobs, Bill Gates, Mark Zuckerberg – there are so many male leaders in tech. But what about Ada Lovelace, Grace Hopper, Susan Wojcicki, Sheryl Sandberg and the decades of further women technologists?
Women are making an impact in technology, but the statistics are still shocking. According to the Women and Technology Study...
Women have influenced and advanced every facet of American life and culture. The strength, ingenuity, and spirit of our female leaders, innovators, and pioneers shape our Nation’s character, government, industry, families, and communities. During Women’s History Month, we honor the women who have changed our Nation and the world, and we reaffirm our commitment to supporting the next generation of female trailblazers and dreamers as they carry forward this distinguished legacy.
This year marks the centennial anniversary of the ratification of the 19th Amendment to the Constitution...
In case you haven’t heard, the Federal Government funds innovation projects like yours. Small Business Innovation Research grants offer up to $225K for Phase I (developing your idea); and $1.2 million for Phase II (production). Many government agencies offer SBIR funding (Defense, NIH, Energy, NASA, etc.) but in most cases, they have specific...
Source: National Institute of Standards of Technology
Biopharmaceutical manufacturing uses living cells to produce therapies that treat diseases like cancer, diabetes and autoimmune disorders. Manufacturing medicine using biology presents different challenges from the traditional chemical manufacturing processes that...
Do you need help with market research associated with commercializing your innovation?
Are you unfamiliar with the registrations you must complete BEFORE you submit your application?
If you...
Source:...
Because you attended the MBDA InVision Tour, you are familiar with Federal Government start-up funding for small businesses to develop new products. It’s called Small Business Innovation Research (SBIR) and the Department of Defense just pre-announced funding available from Army, Air Force, Defense...
Opportunity Zones are a tool created by the Tax Cuts and Jobs Act of 2017 to spur investment on underserved areas. They offer investors a tax incentive by investing their unrealized capital gains into a designated “Opportunity Fund.”
Did you know that there are $2.3 trillion of unrealized capital gains in the United States? And did you know that the average Opportunity Zone consists of 56% minority residents? Minority business enterprises (MBEs) are the foundations of their communities, and Opportunity Zones can be a powerful way to bring investment dollars into these MBEs.
...
A couple in Erie, Pennsylvania found their entrepreneurial calling in 2007 when they started a business making head phones to help people fall asleep, and named it AcousticSheep LLC. They invented a comfortable ear-muff like sound system that can play music, audible books, and other sounds helpful for a restful night.
The founders, Dr. Wei-Shin Lai, a family physician and her husband Jason Wolfe, a video game developer, grew the business from scratch – literally using a sewing kit in the middle of their kitchen to make the...
Nestled in the Township of Bensalem Pennsylvania is a small textile and design company called AKAS. The company was established in 2007 by Indian immigrants Sidharth and Archana Sharma who moved to the United States to create a better life for their children – Karishma and Ashrey.
Living the American dream, the new business owners centered their company’s core values around family – so much so that they created the abbreviation AKAS from the first letter in each of their names - Archana, Karishma, Ashrey and Sidharth.
AKAS is...
The Abe Venable Legacy Award for Lifetime Achievement is presented to Dr. Leonard “Len” Greenhalgh, Faculty Director and Professor at Dartmouth College. Dr. Greenhalgh’s deep involvement in programs for minorities, Native Americans, and women – which ultimately became his life’s work – was motivated by seeing first-hand how minorities were treated during the social justice movement in the 1960s.
He began his career at the Tuck School at Dartmouth College in 1978 and his work in helping minority business began with Tuck’s inaugural...
The Ronald H. Brown Leadership Award is presented to Margo K. Cargill, founder and CEO of Titanium Linx Consulting Inc., and president of the Uniondale New York Chamber of Commerce. With more than 22 years of combined experience in senior project management, marketing research, and strategic communications, Ms. Cargill is best described as a partnership architect with the proven ability of bringing together stakeholders with varied interest and developing strategies for them to work together for the common good.
Specializing in public-private...
The Distinguished Supplier Diversity Award is presented to The Coca-Cola Company. The Coca-Cola Company is a total beverage company, offering over 500 brands in more than 200 countries and territories.
Recognizing the impact that they have on the worldwide supply chain in the industry, Coca‐Cola encourages their own suppliers to adopt diversity programs and goes beyond its own industry to increase overall corporate supplier diversity.
The company is committed to ensuring that minority-owned businesses have access to opportunities throughout...
Advocate of the Year is presented to Natalie Madeira Cofield, founder of Walker's Legacy, a global platform for the professional and entrepreneurial multicultural woman.
In 2009, when Ms. Cofield found herself in need of female mentors and role models during the formation of her first entrepreneurial venture, Walker’s Legacy was born. Recognizing the need for positive and accessible examples of multicultural women in business the goal was to develop an open forum for women to engage and inspire.
Today, Walker’s Legacy equips multicultural...
The Access to Capital Award is presented to MBE Capital Partners, LLC (MBECP), the country's only Direct Lending Certified Minority Finance Company and the largest independent finance provider for small- to middle-market minority- and women-owned business enterprises in the U.S., Caribbean and Mexico.
Originally founded to provide a suite of capital products designed specifically for small and mid-size MWBE businesses; MBECP now has an international reach, offering alternative financing through Supply Chain, Purchase Order and Inventory...
The Veteran-Owned Business of the Year is IMR Development Corp. Established in 2009, IMR is a service-disabled veteran-owned company that was formed to serve a niche market for smaller businesses in the construction management and infrastructure sectors.
Initially focusing heavily on the construction and inspection services, IMR has expanded the company to include a Trenchless Division that offers specialty services in No Dig Trenchless Construction, new trenchless technology that allows for the installation, inspection, maintenance, and...
Minority Professional Services Firm of the Year is awarded to Resource Management Inc. (RMI), a family-owned human resource, benefits, and insurance solutions provider. Established in 1995, RMI provides small to mid-size companies with a variety of services including human resources, payroll preparation, risk management, and employment law compliance.
A founding vision of the company was to help small businesses compete with large corporations by offering tools to free entrepreneurs from HR administrative roles in order to focus more on the...
Minority Manufacturing Firm of the Year is presented to Champion Controls, Inc. Founded in 2003, Champion Controls is a leading control system integrator and manufacturer of quality engineered control systems, serving the heavy movable structures industry.
Since its inception, Champion has experienced substantial growth, averaging 40% in the first 10 years and a more controlled steady growth rate of 5% for the last three years. The company’s workforce has also increased by 50%, including highly skilled workers and entry-level apprentices that are...
Minority Health Products and Services Firm of the Year is presented to Anpac Bio-Medical Science Company. Co-founded in 2010 by Chinese-American scientists Dr. Chris Yu and Dr. Herbert Yu, Anpac Bio is the only liquid biopsy services company fully-commercialized and earning revenue worldwide.
The company’s proprietary “Cancer Differentiation Analysis” (CDA) medical devices and liquid biopsy screening services effectively reinvented early cancer detection. Anpac Bio has filed more than 250 CDA-related patents globally and continues to significantly...
Minority Export Firm of the Year is presented to McWong Environmental Technology (MET). Founded by President/CEO Margaret Wong, MET is a full-service environmental engineering company that manages more than a dozen active projects to address the toughest wastewater treatment challenges.
Headquartered in California with branch offices in China, MET averages $10 million in revenue per project and creates thousands of jobs across the globe. Since its inception, McWong Environmental Technology has been a U.S. export champion, completing numerous...
Minority Construction Firm of the Year is presented to DAP Construction Management, LLC. Established in 2009, DAP got its start as a residential property renovation and swimming pool service company.
Today, DAP is a fast-growing general contractor and construction management firm licensed in Arizona, Arkansas, and Texas with an emphasis in government and commercial contracts. Since expanding the business to include multiple certifications and a network of highly qualified teaming partners, DAP has doubled its revenue over the past three year, from...
Minority Marketing and Communications Firm of the Year is presented to Sensis, a cross‐cultural marketing agency driving behavior change. Working beyond ethnic boxes, the agency creates useful, digitally relevant content to drive consumer action across cultures.
While traditional marketing campaigns focus on the mass market or ethnic segmentation, Sensis long ago recognized the country’s ethnic diversity and the importance of crafting messaging that crosses cultural lines. Sensis started in Los Angeles in 1998 as a website development company with...
The Minority Business Development Agency (MBDA) is honored to celebrate Minority Enterprise Development (MED) Week in partnership with the National Minority Supplier Development Council at the 2018 NMSDC Conference and Business Opportunity Exchange. MBDA will present a series of Powered by MBDA workshops and seminars at the conference that will focus on Federal Government resources including trade/exports, infrastructure, and federal procurement opportunities. MBDA will also host the MBDA Pavilion where minority entrepreneurs and business owners can obtain one-on-one business counseling...
The type of dedication needed to run a successful small business is full of sacrifice, risk, and reward. And for U.S. companies that decide to take their sales globally, truly understand what it requires to grow and expand on that success.
An example of one of those companies is Andes Global Trading LLC in Miami, Florida, which is a meat-trading enterprise founded by Santiago Manzur and Ivan Orrego in 2011, who used their entire life savings to get things started.
In the first year of business, Orrego and Manzur worked from home and put 100% of their focus into developing...
The Minority Business Development Agency (MBDA) is honored to present Minority Enterprise Development (MED) Week in partnership with the National Minority Supplier Development Council, Inc. at the 2018 NMSDC Conference and Business Opportunity Exchange.
The 2018 National MED Week celebration, recognized at the NMSDC Conference, will offer several Powered by MBDA signature sessions, government-to-business matchmaking, and host the National Minority Business Awards Ceremony. The award is the highest level of recognition in the nation bestowed on a minority-owned business or...
Interested in Advising the Secretary of Commerce on Trade Finance Solutions?
I have great news! The U.S. Department of Commerce has announced the re-chartering of its Trade Finance Advisory Council (TFAC or the “Council”). This federal advisory committee advises the Secretary on how to expand access to finance for U.S. exporters and their foreign buyers.
What Does the TFAC Do?
During its first two-year term, the TFAC provided detailed policy and technical recommendations to enhance private and official financing options for U.S....
The U.S. Department of Commerce, Minority Business Development Agency is proud to celebrate the history, culture, and contributions of Hispanic and Latino Americans as part of National Hispanic Heritage Month September 15 - October 15. This year’s theme is “Hispanics: One Endless Voice to Enhance our Traditions”.
In September 1968, Congress authorized President Lyndon B. Johnson to proclaim National Hispanic Heritage Week, observed during the week that included Sept. 15 and Sept. 16. In 1989, Congress expanded the observance to a month long celebration (Sept. 15-Oct. 15) of the...
Before Hurricane Florence makes landfall, there are a few things you can do to ensure safety in the midst of the storm. Here are hurricane preparedness tips for your business:
Four in five businesses are nonemployers. The number of nonemployer firm has risen 58 percent since 1997, from 15.4 million in 1997 to 24.3 million in 2015, while the number of employer firms has grown 6 percent in the same period. Nonemployer firms account for 3 percent of the annual receipts of US businesses and employer firms account for the remaining 97 percent. On average, nonemployer firms earn about $47,000 annually and employer firms earn nearly $6 million.
Since 2007, women of color have started businesses at an unmatched rate. While the number of women-owned businesses grew 58% from 2007 to 2018, firms owned by women of color grew at nearly three times that rate (163%). As of 2018, women of color account for 47% of all women-owned businesses. An estimated 5,824,300 women-of-color-owned businesses employ 2,230,600 people and generate $386.6 billion in revenues.
More specifically, numbers for Latinas and African Americans grew faster than the average rate for businesses owned by women of color: 172% and 164% respectively, equaling 2.1...
Are you a minority entrepreneur? Do you need financing to take your business idea to the next level?
Enter the Meda $1 Million Challenge today and let us know why you think your business rises above the rest!
Up to 20 minority-owned businesses will face off this October for their chance to compete for up to $1 million dollars in financing to accelerate their businesses.
These selected businesses will be invited to make...
Recently the United States Government announced several new tariff increases. The U.S. Department of Commerce implemented tariffs on steel and aluminum imports for national security reasons. Separately, the U.S. Trade Representative (USTR) announced tariffs to combat unfair trade practices on certain Chinese goods. Additional tariffs on a larger list of goods from China are expected in the future.
Small businesses should become familiar with what imported products are impacted to make informed business decisions as tariffs could increase the total cost of certain imported goods...
Argentina is back and open for business! The new pro-business government under President Macri has re-opened the country to the international business scene. The government has been cracking down on corruption and has made infrastructure development a top priority. Such undertaking is mostly fueled through a combination of World Bank and InterAmerican Development Bank funding and international tenders featuring Public-Private Partnerships.
U.S. companies are Argentina’s partners of choice; the U.S. is one of Argentina’s top suppliers and opportunities abound for innovative and high...
Last year, the United States exported more than $450 billion in goods to Asia, and the potential for selling U.S. products in the region is still largely untapped.
The U.S. Department of Commerce announced a strategy designed to increase U.S. exports to the Indo-Pacific region, strengthen economic security and reduce the U.S trade deficit. For more than seven decades, U.S. economic and commercial engagement and development assistance have advanced freedom, openness, and economic prosperity across the region.
The Commerce Department will dedicate two of its upcoming flagship...
Intellectual property (IP) is a key commodity in U.S. trade. Each year more than 50 percent of U.S. merchandise exports and more than 10 percent of total U.S. services exports come from IP intensive industries. The United States has become the global leader in cutting-edge sectors in part due to strong IP protection regimes. We know that IP is how the U.S. economy will continue to grow, and that protection both at home and abroad is critical for our industries to flourish worldwide.
As part of the Department of Commerce’s overarching commitment to helping the American economy grow,...
Note: If you are seeking to do business with FEM A in support of a disaster recovery effort, please be aware that in accordance with the Robert T. Stafford Act (specifically Section 307}, FEM A's goal is to seek local companies within the disaster area for goods and services related to a specific disaster when practical and feasible.
The Industry Liasison Program has a four-step process to help vendors seeking FEMA contracting opportunities to meet FEMA's missions and goals.
We all know it happens – computers crash, malware infects them, or somebody downloads that cool, new program that crashes everything! While there are many tips and tricks of great value in preventing your devices and data from being compromised, it is important to also have a backup of your information in case something goes wrong!
Backups are copies of key information or data that are stored separately from your device. By storing these separately, you can restore your data or device using these backups and get right back to full working order. With threats of Ransomware, which...
Supply chains move materials, products, information, and money from vendors to purchasers to consumers, driving economic growth in an increasingly globalized world. As minority business enterprises (MBEs) continue to expand their influence in the U.S. economy, commitment to supplier diversity presents an opportunity to access modern markets and innovative products. Here are four facets of the U.S. supply chain through which MBEs are driving growth.
Market Share
The number of minority-owned firms nearly doubled...
The Minority Business Development Agency celebrates the annual achievements of outstanding entrepreneurs during National Minority Enterprise Development (MED) Week. The National Minority Business Awards, the U.S. Department of Commerce’s most prestigious recognition for minority-owned firms, awards individuals and organizations with a demonstrated commitment to minority business enterprises, presenting accolades across three main categories – minority-owned firms, champions of minority business and individual recognition. Here’s a look at the award-winning qualities of several past...
The World Bank currently makes commitments of $60 billion/year and recent procurement reforms should make U.S. companies more competitive in the bidding process. So how can U.S. companies find World Bank-funded projects, bid on them, and win?
Here are four steps to help you get started:
Through trade data! Research world and country-specific import data to uncover potential new markets. In TradeStats Express, look for answers to:...
When it comes to exporting, many minority businesses are reaping the rewards of selling internationally, while other firms have yet to explore sales. In the below question and answer, members of the Minority Business Development Agency (MBDA) Access to Market Business Development Team, George Mui and Gabriela Morales discuss exporting and how these businesses can take advantage of U.S. government export resources to successfully navigate their first or new export markets.
1. Why should minority-owned firms consider exporting or expanding into new foreign markets?...
Writing a budget for a federal grant can be challenging, especially if it’s your 1st time. Here are some tips to keep in mind when writing one. This video is meant to be an example. Your budget may be different depending on what you are proposing. You can construct your budget proposal using these 4 ingredients. Transcript
Writing a budget for a federal grant can be challenging, especially if it’s your 1st time. Here are some tips to keep in mind when writing one. This video is meant to be an example. Your budget may be different depending on what you are proposing. Transcript
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