Tag Archives: MBDA

Public Hearing: Task Force on Federal Contracting Opportunities for Small Business

On June 28, 2010 at 1pm EST, the Task Force on Federal Contracting Opportunities for Small Business will hold a public hearing at the auditorium at the Department of Commerce located at 1401 Constitution Ave., NW, Washington, DC 20230.

To pre-register for the meeting, please email your name, organization or small business that you represent, along with the contact information to SB_TaskForce_Comment@sba.gov.  You should also include the topics you are interested in discussing (see below). Those interested in attending should register by June 21, 2010 due to security and limited seating.  Please put “registration” in the subject line of the email.

Topics that will be discussed during the hearing include:

  • Teaming, Mentor-protege programs and subcontracting – What steps can be taken to increase interest in and participation through use of: a) teaming arrangements and b) mentor-protege programs.  How can subcontracting practices, such as tracking and evaluation of subcontracting plans be improved? How can prime contractors be more effectively held responsible for their subcontracting plans?
  • Set-asides and Bundling – What aspects, if any, of the rules governing set-asides should be changed? What further guidance might be helpful? What strategies best mitigate the effects of contract bundling? Are there specific examples that might be shared as success stories or models for agencies to follow in mitigating contract bundling?
  • Training, outreach and technology – What types of training would improve small businesses’ ability to participate in the Federal marketplace and what are the best ways to deliver this training to the small business community? What Federal organizations do the best job in their small business outreach strategies? What specific practices do they employ that are most helpful? What technology systems and applications are most helpful to small businesses in finding contracting opportunities? What improvements can be made to existing technologies and what new applications might be considered to make doing business with the Federal government easier and more attractive?
  • Workforce Training – What is the best way to train individuals in the procurement process? How can we ensure they have the skills needed to serve small businesses?

Minority-owned firms are encouraged to register and discuss specific successes or challenges they have faced in federal government contracting.  In addition to participating in the public meeting, interested parties may submit written comments to SB_TaskForce_Comment@sba.gov by June 30.  Please put “comment” in the subject line of the email.

The Administration is committed to tapping the talents and skills of small businesses, the engine of our Nation’s economy, and ensuring that they have a fair chance to participate in Federal contracting opportunities.

David Hinson appointed new MBDA National Director

20060112_careernetWASHINGTON – 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. 20060112_careernetand currently resides in Philadelphia, Pa.

National MED Week Conference and Nominations for Awards Being Accepted

awardsbrochure200pxThe National Minority Enterprise Development (MED) Week Conference will be held August 26-28 at the Omni Shoreham Hotel in Washington, DC.  The Conference will focus on fostering innovation, competitiveness and opportunities for minority businesses to retool and rebuild America’s Infrastructure under the American Recovery and Reinvestment Act.

The Conference theme is “Energizing the American Economy with Minority Business Enterprises.” In addition to the State of Commerce Luncheon  and the Annual MED Week Awards Gala, the conference will feature a Business EXPO where entrepreneurs can network and share information.  Participants will also attend educational workshops and business networking events with representatives of MBDA, the Small Business Administration (SBA) and other public and private partners. 

Nominations are currently being accepted for MBDA’s 2009 Excellence in Minority Business Awards.  The award winners will be recognized at MBDA regional MED Week conferences and national award winners will be recognized at the MED Week Awards Gala on August 28, 2009 at the Omni Shoreham Hotel as part of the MED Week Conference activities.

Providing crucial financial protections for many Americans, including minority businesses

creditcardsLast week the U.S. House of Representatives passed the Credit Cardholders’ Bill of Rights – a common sense financial system reform and consumer protection.  This bill provides  tough new protections for consumers facing excessive credit card fees, sky high interest rates and unfair agreements that credit card companies revise at will.

This bill is important to the establishment and growth of minority businesses because a greater proportion of minority-owned firms are started or acquired by using credit cards (10 percent of firms) among other sources of capital, compared to non-minority firms (9 percent of firms), according to MBDA’s “Characteristics of Minority Businesses and Entrepreneurs.” (March 2008)

This finding suggests minority entrepreneurs are more likely to finance long-term liabilities with short-term debt that often carries higher interest rates.

Of all the minority-owned respondent businesses, Native Hawaiian and Other Pacific Islanders and American Indian and Alaska Natives had the largest proportion (13 percent and 12 percent respectively) that used credit cards for the same purpose compared to non-minority firms.

MBDA’s Access to Capital Initiative is focused on increasing the availability of credit and investments in minority businesses.  The current tightened credit market threatens to halt the growth and expansion of minority-owned firms in neighborhoods and communities throughout the United States – impacting both job and wealth creation.

What does the American Recovery and Reinvestment Act mean for minority businesses?

construction-pic1The American Recovery and Reinvestment Act (ARRA) makes a long-overdue and historic investment in our national infrastructure – including roads, bridges, public transit, housing and broadband – to save or create nearly 400,000  jobs for American workers today and power enhanced economic growth for decades to come.

The Act includes $150 billion in new federal infrastructure funding that reflects President Obama’s belief that we can only strengthen our economy by investing in local economies.  For more information related to the Act, please visit www.recovery.gov.

Some of these projects include:

  • Investing more than $17 billion in public transit and high speed rail to reduce our dependence on foreign oil.
  • Safeguarding the roads, bridges, dams, ports, rail and water systems our families use everyday with an historic $40 billion, two-year investment.
  • Expanding broadband throughout America.
  • Making an historic$25 billion investment in school construction, sufficient to renovate and modernize 10,000 schools.

What should minority businesses do to ready themselves for opportunities?

Contracting opportunities made possible through the ARRA will be done no differently than any other government contracting opportunities.  MBDA recommends that minority businesses:

  • Register in the Central Contracting Registry (CCR) www.ccr.gov.  Or, if you are already registered, please make sure your profile is up to date with correct contact information, capabilities, bonding and most importantly, past performance.
  • Register with MBDA’s Phoenix Opportunity Matching System and visit your local MBDA Minority Business Center.  For a listing of the nearest MBDA center, please go to www.mbda.gov.
  • Be on the lookout for “Sources Sought” and “Request for Information (RFIs).  If you are contacted regarding an opportunity, please respond as soon as possible.
  • Make contacts and build relationships.  Some contracts may be large and/or bundled, but by building strategic partnerships with other companies, your minority business can still be part part of the work.  Firms which are 8(a)s, in the GSA Schedule, women-owned businesses, Historically Black Colleges and Universities (HBCUs), Tribal Colleges and Universities (TCUs), Service Disabled Veteren Owned businesses, Native tribes, businesses in HUB zones: are state certified and have a strong past performance haev a competitive advantage for shovel ready projects.
  • Keep informed by visiting www.recovery.gov, www.fedbizopps.gov, and www.grants.gov to make sure you are aware of every opportunity your minority business could qualify for.

At MBDA,we are working to ensure that qualified minority businesses are considered for contracts and opportunities the ARRA provides.  We have been working with the Department of Transoprtation, the Army Corps of Engineers, the Small Business Administration, and the National Telecommunications and Information Administration.  In addition, the MBDA Regional Offices and minority business centers across the country are meeting with state and local officials to discuss potential projects and matches with qualified and skilled minority businesses on the local level.

Together, we can rebuild America’s infrastructure to ensure jobs and economic growth for future generations of Americans.

MBDA Marks 40 Years Promoting Competitive Business Growth

On March 5, 1969, President Richard Nixon established what is today called the Minority Business Development Agency (MBDA) at the U.S. Department of Commerce.  Over the last four decades, MBDA has promoted the establishment and growth of minority businesses in the United States.  MBDA is the only federal agency tasked with advancing the competitiveness of minority businesses and throughout the year will be highlighting those minority businesses that have benefited from MBDA programs and the people and communities it has impacted.

MBDA prides itself on remarkable success.  In 2008, the Agency ranked as one of the top three bureaus within the U.S. Department of Commerce and touched more than 25,000 minority businesses, in turn, they created more than 5,000 new jobs.  In addition, MBDA programs generated $1.85 billion in terms of dollar value of contract and financial awards to minority businesses.

There were just 322,000 minority businesses in 1969 generating approximately $11 billion in annual gross receipts.  Today, the number of minority firms is more than 4 million.  These firms generate approximately $660 billion in gross receipts and employ apprximately 4.7 million workers.

While the growth rate of minority businesses has been remarkable, it has not kept pace with the growth of the minority population.  In fact, if minority businesses had grown in pace with the minority population explosion, it would mean an additional 2.4 million firms and gross receipts of $2.5 trillion – that’s nearly four times the current amount of gross receipts.

In addition, 16.1 million more workers would have jobs.

As you can see, the success and growth of minority firms is directly linked to the success and growth of the American economy.

Why?

According to the U.S. Census Bureau, by 2042 there will be a remarkable shift in the demographics of America.  We will once again be a country of immigrants – primarily people of color.  Based on this shift, minority entrepreneurs  are in a unique position to generate long-term employment and economic sustainability in their communities – and for the United States.

For the next generation of minority entrepreneurs, MBDA will focus on preparing minority business owners to grow in size, scale and capacity – further enabling competition in the global economy.

Welcome!

Welcome to the Minority Business Development Agency’s (MBDA) Minority Business Blog.

We look forward to your feedback and interaction with our Agency.

For more information about MBDA, please visit www.mbda.gov or you can follow us on twitter @USMBDA and feel free to ask questions there.