Greening your business

It’s important to recognize that consumers are becoming more environmentally conscious. Eco-friendly practices may seem costly but can serve as a great investment for future growth in businesses as it reduces costs and creates happier customers.

Business.gov provides suggestions and information from fellow business owners as well as industry and government experts.  Linked to the site, you can find a Green Business Guide that offers tons of tips on how to pursue and maintain a green business.  Recommendations include how to reduce energy costs, how green technology develops energy efficient upgrades, what kinds tax credits there are to green technology developments, and more.  By cutting down on expenses and becoming more consumer-friendly, your business can open up opportunities for growth.

Here are some links to get you started with your journey towards a greener business:

Energy efficient guide

Save energy costs, find energy saving tips, and get information on incentives for making energy efficient upgrades.  The guide can lead you to recommendations on cost savings, opportunities for energy efficient upgrades, steps towards sustainable business practices, and more.

Tax credits to green technology development

A tax credit can provide significant savings. It reduces the amount of income tax you have to pay. Unlike a deduction, which reduces the amount of income subject to tax, a tax credit directly reduces the tax itself.

Green technology innovation grants

A few federal programs provide grants to small firms engaged in scientific research and development (R&D). The federal government’s SBIR (Small Business Innovation Research) and STTR (Small Business Technology Transfer) programs award a specific percentage of federal R&D funds to qualified small businesses. SBIR/STTR programs encourage small firms to undertake scientific research that helps meet federal R&D objectives, and have high potential for commercialization if successful.

IRS e-News for Small Businesses: a Time-Saver for Small Businesses

Keeping up with federal tax requirements is not easy in today’s fast-changing business environment. Even if you use a tax professional’s services, you still need to know and understand your tax responsibilities.

That’s why the IRS offers you a time-saver: IRS e-News for Small Businesses. E-news is a bi-weekly newsletter that alerts you to what’s new, hot and important for small business owners to know. It’s quick to read, easy to subscribe – and it’s free.

IRS e-News for Small Businesses features:

Tax dates for small business owners, to help you avoid missing a deadline

• Links to new items on IRS.gov for small businesses
• Reminders and tips to help you meet your tax obligations
• Quick links to IRS news releases and announcements
• Info about IRS products, services, and educational opportunities

Subscribe to e-News on IRS.gov at http://www.irs.gov/businesses/small/article/0,,id=154825,00.html, click “Subscribe Now” at the bottom of the page and enter your e-mail address.

 

 

Minority Business Opportunity to Participate On Industry Trade Advisory Committees

The Industry Trade Advisory Committees (ITACs) play a critical role as industry’s voice in developing U.S. trade policy.  Through the ITACs, business leaders have an opportunity to work side-by-side with U.S. Government officials and trade negotiators in advising the Secretary of Commerce and the United States Trade Representative (USTR) on industry specific issues related to, among others:  market access, customs matters, foreign investment and intellectual property protection.

Commerce and the USTR jointly administer 13 industry specific and 3 functional ITACs, plus a Committee of Chairs – and consider these ITACs, and the advisors who serve on them – to be a vital part of the U.S. trade policy-making process. As an ITAC advisor, you would have direct access to policymakers and negotiators to offer industry positions on U.S. trade policy and negotiating objectives and you would serve as a critical link between the private sector and government.

ITACs typically meets an average of four to five times a year in Washington, D.C. and sometimes there are meetings outside the beltway.  Some ITACs may meet more often, depending upon the work of the committee and the nature of the agreement being negotiated.  Members pay their own travel and expenses to attend these meetings.

Please note that we are currently in the process of looking at ways to leverage our technological capabilities so that people can potentially join meetings via teleconference or video conference.

Currently, Commerce and USTR are in the process of recruiting for new members on all sixteen ITACs for the upcoming charter term which will begin in the late winter/early spring of 2010. This recruitment process will ensure a diverse membership among industry sectors, small, medium and large-sized companies, product lines, geographic areas and demographic groups.  Although our recruitment efforts will be ongoing, we’re encouraging people to apply as soon as possible because members must be granted a Commerce Department security clearance (as they have access to confidential trade-related documents) and this process can take a few months.

Candidates applying for ITAC membership need to represent a U.S. manufacturing or service entity that trades internationally, or an association of such entities.  Candidate must also demonstrate knowledge of their industry sector and trade policy issues relevant to the work of the ITAC to which they are applying.  Candidates must be U.S. citizens who are not employees of a government entity, registered foreign agents, or federally-registered lobbyists.

People who are interested in becoming ITAC advisors need to send the following information to the Trade Advisory Center:

1)      A  nomination letter, stating the nominee’s international trade expertise and qualifications, from their company or trade association (can be self-nominating);

2)      Their current résumé, demonstrating knowledge of international trade issues relevant to the work of the committee on which they would like to serve;

3)      A profile of the sponsoring company or organization (if the nominee is a consultant, legal advisor, or trade association, a membership list or client list must be included and all non-U.S. entities that are clients or members must be identified, including members that are U.S. subsidiaries of foreign-held companies.); and

4)      An affirmative statement that:  a) the applicant is not a foreign agent; b) the applicant is not a federally-registered lobbyist, and if appointed, they will not be able to serve on as an ITAC member if they should become a federally-registered lobbyist; and c) the applicant meets all eligibility criteria.

These nominations should be sent to the Director of the Industry Trade Advisory Center, U.S. Department of Commerce, Room 4043, Washington, D.C.  20230.  They can also be sent via e-mail to Advisory_Center@ita.doc.gov.  Further information on the ITACs can be found on the ITAC Web Site at: www.trade.gov/itac or by calling (202) 482-3268.

As we reach out to broaden the spectrum of represented voices, we think there’s a tremendous opportunity here to engage citizens in the trade policy-making process.

 

 

MBDA allocated nearly $1 million to increase contracting opportunities through ARRA

MBDA National Director Hinson and the North Carolina Minority Business Center Staff and state and local officials.

MBDA allocated roughly $1 million to seven minority business centers last month. The Minority Business Centers located in cities in Mesa, AZ; Bismarck, ND; New Orleans, LA; Durham, NC; San Jose, CA; Detroit, MI; and Philadelphia, PA received the funding to increase minority business contracting opportunities in the American Recovery and Reinvestment Act.

The Minority Business Centers in these cities will assist in “minority-owned firms playing a significant role in the nation’s economic growth,” says MBDA National Director David Hinson.  MBDA kicked off the ARRA Initiative last month with events in Charlotte, NC; Philadelphia, PA and New Orleans, LA.

Each event brought local government, minority entrepreneurs and business owners as well as staff from MBDA together to highlight business successes as well as to discuss how better to work together to ensure minority business participation in ARRA contracting opportunities.

Each Minority Business Center will hire at least one business development specialist who will focus on ensuring

MBDA National Director Hinson hearing from minority business owners in New Orleans

minority businesses have access to federal, state and local contracting opportunities.

 

According to MBDA, the first steps  minority business should make in order to take advantage of ARRA opportunities include:

• Registering in the Central Contracting Registry (CCR) www.ccr.gov.
• Visiting local MBDA minority business centers and registering in the Phoenix Opportunity Database at www.mbda.gov.
• Making contacts, building relationships and forming strategic alliances. Some contracts may be large or bundled, but by building strategic partnerships with other companies, smaller businesses can still be part of the work.

Along with adding business development specialists in strategic markets, MBDA will hold or participate in hundreds of ARRA related events to share information on government contracting opportunities at the federal, state and local levels.

Also, minority business owners can find out more about ARRA-related events that will be held to share information about contracting opportunities by visiting www.fedbizopps.gov or www.recovery.gov.  Minority business owners should visit www.mbda.gov for more information.

 

MBDA Summit: Advocacy

On July 6th and 7th, MBDA hosted a meeting of leaders in the minority business community, including program directors and advocates, to review and benchmark progress regarding the state of minority businesses.  The goal of the meeting was to establish a blueprint for minority business development programs that can be implemented by the public and private sectors in the future.

From the meeting, common themes emerged from the conversations.  MBDA is opening the discussion to include a variety of stakeholders in minority business success- we welcome your comments and suggestions.

The question that was asked is this:

What advocay activities and actions do you recommend can be encouraged or taken to promote the economic development and growth of MBEs?

The common themes include the following:

• All of the minority chambers and like-minded groups need to advocate in one single voice.

• The minority chambers and like-minded groups should think about forming a coalition for better unity and strength in numbers.

• Either or both organizations need to be legally allowed to lobby.

• MBDA should play an active role in a new combined chamber organization or coalition.

• The minority business community needs to be trained and educated in advocacy at the federal, state and local level.

• The minority business community needs to be aware of how and when federal, state and local laws are enacted so that they can effectively impact legislation that affects their daily lives.

• Minority business leaders need to connect and meet with lawmakers so they know and understand their issues.

• Minority businesses need strong and frequent economic data to make the business case and back up the advocacy efforts

• MBDA needs to publicize each of their success stories so lawmakers understand the positive impact in their community.

• The private sector needs to be an equal partner in advocacy. They need to tell other companies the benefits of working with minority business.

• MBDA needs the power to enforce the current minority business goals.

• MBDA funded centers need more resources dedicated to outreach and advocacy.

We would appreciate your comments and suggestions on the topic, to see participants specific comments per topic, please click here.

**This post contains the comments provided by participants at the Minority Business Development Agency Summit held on July 6 – 7, 2009 at the Hyatt Regency Washington on Capitol Hill.  Participants provided input on strategy, enforcement mechanisms, and legislation that may assist minority entrepreneurs in the future.  Note-takers memorialized the comments made at each of the tables.  These materials are being provided in raw data format and are for informational purposes only.  The views expressed herein are those of the participants and do not necessarily reflect those of MBDA or of the U.S. Department of Commerce.

MBDA Summit: Emerging Entrepreneurial Opportunities

On July 6th and 7th, MBDA hosted a meeting of leaders in the minority business community, including program directors and advocates, to review and benchmark progress regarding the state of minority businesses.  The goal of the meeting was to establish a blueprint for minority business development programs that can be implemented by the public and private sectors in the future.

From the meeting, common themes emerged from the conversations.  MBDA is opening the discussion to include a variety of stakeholders in minority business success- we welcome your comments and suggestions.

The question that was asked is this:

Given the new market/emerging opportunities for MBEs in the national and global economy, what programs and strategies are needed for MBEs to enter and succeed in these emerging and new industries?

• Provide incentives for larger companies to partner with smaller companies.

• To strengthen competitive advantage, encourage MBE firms to partner with other firms that offer complementary technology.

• Develop a group of 10 business owners in each state capable of entering emerging markets and provide the training, access to capital and other resources needed.

• Federal government should identify new green technology to be used in the future for home and office construction where opportunities can be created for minorities

• Direct MBEs toward ARRA growth industries and encourage teaming.

• Identify top MBE leaders in emerging markets.  Use these leaders as mentors/resources to bring in new MBEs into these markets.

• Work with universities to deploy interns with skill sets that can enhance the growth of MBE firms in emerging technologies

• Identify national/state/local, private and public projects focused on helping MBEs.

• Focus on educating high school students on understanding and identifying on Green and emerging business opportunities

• Expand access to SBIR Program. Reserve a percentage of SBIR Grants for MBEs

• Work with local colleges and universities to create incubators/entrepreneurial centers for emerging technology companies.

We would appreciate your comments and suggestions on the topic, to see participants specific comments per topic, please click here.

**This post contains the comments provided by participants at the Minority Business Development Agency Summit held on July 6 – 7, 2009 at the Hyatt Regency Washington on Capitol Hill.  Participants provided input on strategy, enforcement mechanisms, and legislation that may assist minority entrepreneurs in the future.  Note-takers memorialized the comments made at each of the tables.  These materials are being provided in raw data format and are for informational purposes only.  The views expressed herein are those of the participants and do not necessarily reflect those of MBDA or of the U.S. Department of Commerce.

MBDA Summit: MBE Programs

On July 6th and 7th, MBDA hosted a meeting of leaders in the minority business community, including program directors and advocates, to review and benchmark progress regarding the state of minority businesses.  The goal of the meeting was to establish a blueprint for minority business development programs that can be implemented by the public and private sectors in the future.

From the meeting, common themes emerged from the conversations.  MBDA is opening the discussion to include a variety of stakeholders in minority business success- we welcome your comments and suggestions.

The question that was asked is this:

Given the challenges MBEs have in growing their businesses and in competing in the global economy, what are your recommendations for future programs or strategies which should be implemented to support MBEs in the 21st century?

The common themes from the Summit include:

• Implementation of partnerships with colleges and universities to teach entrepreneurship programs.
• The Creation of a Reciprocal/Universal Certification Process.
• Cross collaboration with Minority Chambers of Commerce, Trade Associations and other business development organizations.
• The need for a unified voice within the MBE Community to advocate on issues impacting their growth strategies.
• Ongoing Training and Development of MBE’s to Build Capacity. (ie. Tuck School of Business, Kellogg, Darden named)
• Recommendation for MBDA to revisit its Executive Order and require OSDBU’s to be accountable, transparent and responsible for procurement purchasing from MBE suppliers.
• SBA size standards need to be increased.
• Providing incentives for public and private sector entities that meet and/or exceed procurement goals.
• Sharing of Best Practices within the MBDA Network and recognition of public/private organizations that demonstrate and lead by example.
• Educate Congress/Policymakers in a unified voice on issues, challenges impacting MBE’s.
• Increased funding for MBDA to offer more programs targeted at building MBE capacity and spurring the U.S. economy.
• Better educate the financial/lending community about the MBDA Programs and Services and establish a referral pool.
• The creation of an Emerging Minority Business Loan Pool.
• More frequent studies on SBO Data — Every 2 years — will require increased funding.
• Making the business case for doing business with MBE’S and the value proposition.

We would appreciate your comments and suggestions on the topic, to see participants specific comments per topic, please click here.

**This post contains the comments provided by participants at the Minority Business Development Agency Summit held on July 6 – 7, 2009 at the Hyatt Regency Washington on Capitol Hill.  Participants provided input on strategy, enforcement mechanisms, and legislation that may assist minority entrepreneurs in the future.  Note-takers memorialized the comments made at each of the tables.  These materials are being provided in raw data format and are for informational purposes only.  The views expressed herein are those of the participants and do not necessarily reflect those of MBDA or of the U.S. Department of Commerce.

MBDA Summit: Legal Landscape

On July 6th and 7th, MBDA hosted a meeting of leaders in the minority business community, including program directors and advocates, to review and benchmark progress regarding the state of minority businesses.  The goal of the meeting was to establish a blueprint for minority business development programs that can be implemented by the public and private sectors in the future.

From the meeting, common themes emerged from the conversations.  MBDA is opening the discussion to include a variety of stakeholders in minority business success- we welcome your comments and suggestions.

The question that was asked is this:

Given the current court challenges to programs targeted for minority-owned businesses, what actions can be put in place to support the growth and expansion of minority-owned businesses in the 21st century?

Below you will find the themes for the topic of “Legal Landscape:”

• Communicate the White House and Administration’s commitment to minority business growth and competitiveness.
• Develop criteria for minority business contracting goals on the federal, state and local levels, and establish and enforce these goals.
• Develop a streamlined and effective federal certification process for minority businesses (HUB Zone, 8(a), and SDB should not exist separately).
• Implement a national research study to discover current barriers to success for minority businesses.
• Develop a national disparity study which demonstrate barriers and gaps in access to government contracts.
• Build a record of evidence of discrimination and barriers into the congressional and legislative record.
• Establish formalized mentoring programs for entrepreneurship starting at the college level and lasting throughout the business lifecycle.
• Create educational programs that focus specifically on procurement within the government contracting arena.
• Consolidate the number of minority business advocacy organizations into one centralized organization which will then partner with MBDA.  Create an agenda for all minorities to speak with one voice.

We would appreciate your comments and suggestions on the topic, to see participants specific comments per topic, please click here.

**This post contains the comments provided by participants at the Minority Business Development Agency Summit held on July 6 – 7, 2009 at the Hyatt Regency Washington on Capitol Hill.  Participants provided input on strategy, enforcement mechanisms, and legislation that may assist minority entrepreneurs in the future.  Note-takers memorialized the comments made at each of the tables.  These materials are being provided in raw data format and are for informational purposes only.  The views expressed herein are those of the participants and do not necessarily reflect those of MBDA or of the U.S. Department of Commerce.

David Hinson appointed new MBDA National Director

WASHINGTON – U.S. Commerce Secretary Gary Locke today announced the appointment of David Hinson, a St. Louis native with more than 20 years of business experience, as the new administrator of the Minority Business Development Agency (MBDA). This agency is the only federal agency created specifically to foster the establishment and growth of minority-owned businesses in the United States.

“The success of minority-owned businesses is essential to our economic recovery, and I’m counting on David to maximize their opportunities,” Locke said.

MBDA, through its network of 48 minority business centers throughout the country, provides one-on-one workshops and business consulting services for minority businesses to help educate them about federal opportunities, including those related to the American Recovery and Reinvestment Act.

“I’m honored to accept this position and am committed to carrying out Secretary Locke’s priority of working with minority entrepreneurs who wish to grow their businesses and increase their capacity,” Hinson said. “This work better positions these companies to create jobs, improve local economies and expand operations into national and global markets.”

In 2008, MBDA negotiated more than $2 billion in contracts and capital for minority businesses. Over the past 40 years, MBDA has served more than 625,000 minority businesses and assisted in securing more than $25 billion in loans and bonding.

Since MBDA’s creation in 1969, minority businesses have grown from 300,000 to nearly 4 million. Recent Census data indicates minority firms generate more than $661 billion in annual revenues and employ nearly 5 million workers.

More information about Hinson is available below.

David A. Hinson Bio

Since 2002, David was President and CEO of Wealth Management Network, Inc., a multi-million dollar independent, financial advisory boutique. Prior to launching Wealth Management Network, David managed a 10-state sales region as Director of Advisory Services for Envestnet Asset Management, a $70 billion financial advisory firm. In his capacity, David advised high-end advisors in asset allocation, portfolio construction, technology, and product implementation. He also served as Managing Director of Business Development for the company. In addition, David has held a variety of senior-level and mid-management positions at Bank of America, Morgan Stanley & Company, and First Chicago Bank (now JP Morgan Chase) and the Village Foundation.

David received an MBA in Finance from The University of Pennsylvania Wharton School, and a bachelor’s degree in Insurance and Finance with honors from Howard University in Washington, D.C. In addition, he completed a fellowship in International Finance with honors from the Stockholm School of Economics and completed graduate-level studies in French with honors at the University of Abidjan, in the Ivory Coast West Africa.

David is a member of a number of civic organizations including a member of the Board of Directors, Treasurer and Chair of the Audit Committee of the Council of Urban Professionals (CUP) in New York. In addition, David has provided on-air financial commentary for CNN, Fox News Channel, CBS News and The BE Report in addition to writing a financial column for The Network Journal and writing personal wealth analyses for Black Enterprise Magazine and Essence Magazine.

David is a native of St. Louis, Mo. and currently resides in Philadelphia, Pa.

New Department of Commerce Initiative to Aid American Businesses to Launch in Detroit

U.S. Commerce Secretary Gary Locke announced a new Obama Administration initiative designed to streamline government bureaucracy and bring services and solutions directly to businesses and entrepreneurs creating and sustaining jobs. Locke made his announcement at the Detroit Economic Club’s National Summit. The new initiative will be launched this summer in the Detroit area.

 Responding both to President Obama’s call to make government more responsive and a once-in-a-generation economic crisis, Locke initiated the effort after seeing how complicated it can be to navigate the alphabet soup of Commerce agencies and programs.

 In the coming weeks, the department will dispatch a team of Commerce experts to begin preparing the launch of the initiative.  The team will consist of representatives who have been cross trained on the wide breadth of programs and activities that the Commerce Department and its bureaus have to offer, programs that can assist a business at nearly every point of its life cycle, whether just getting off the ground or looking to expand into overseas markets.

 “The Department of Commerce is singularly equipped to help American businesses grow and create jobs.” Locke said. “This new initiative will provide a single point of contact for every Commerce program available to business owners and will work with state and local agencies, academia, labor and other key stakeholders to provide a unified, integrated resource to grow and sustain jobs.”

 Locke tapped the director of the Department’s successful Manufacturing Extension Partnership, Roger Kilmer, to lead the effort. Kilmer will be responsible for staffing the new initiative with an interdisciplinary team from across Commerce’s varied agencies. (In fiscal year 2007 alone, the Manufacturing Extension Partnership helped create over $5 billion in new sales for partner businesses.)

 Kilmer’s goal is to unveil by the end of the summer a brick and mortar “one-stop” office in the Detroit area, making more accessible services offered by Commerce’s Patent and Trademark Office, Minority Business Development Administration, National Institute of Standards and Technology and International Trade Administration, among others.

 “Main Street businesses shouldn’t have to hire their own consultant to navigate the federal bureaucracy to get them the very assistance their tax dollars help support,” Locke said. “The Commerce Department has tools to help companies. It’s long past time we made it easier for them to access those resources.”

The on-the-ground experts will be responsible for assessing a business’ full spectrum of needs, whether it’s access to capital, intellectual property protection, export promotion or guidance on how to make operations more efficient.  They will be a partner for Detroit area business owners, allowing them to leverage several different federal programs at once to help companies grow and create jobs.

 Locke also said he would look to partner with additional federal agencies as the initiative progresses and look for new opportunities to cut red tape.

 “If the Detroit pilot program is successful – and we are confident it will be – then Commerce will begin opening other “one-stop” offices throughout the Midwest and across the country,” Locke said.

MBDA currently has a Minority Business Center operating in detroit which can be reached by calling 313.262.7342 or visiting www.mmbec.com

For a Minority Business Center near you, please visit www.mbda.gov