We are pleased to Announce that the U.S. Department of Commerce, Minority Business Development Agency (MBDA) is supporting the African Union Expo and Martin Ezemma, MBDA Business Development Specialist, the Agency’s expert in the African Diaspora will be leading the Q&A discussions and his extended team will be delivering several of the sessions related to Exports/Imports, Trade and Investment.
The Minority Business Development Agency (MBDA), a job-creating agency, leads Federal efforts to promote the growth and global competitiveness of America’s minority business community. This summary includes a small portion of our overall accomplishments during the first three years of the Obama Administration.
Increasing Exports of Minority-Owned Firms
Today, the importance of minority-owned businesses as a key component of U.S. international trade has nev-er been greater. Minority-owned firms have the most favorable export attributes of any sector of the U.S. economy and represent the future of export growth. They are:
- twice as likely to export their products and services;
- six times more likely to transact business in a language other than English;
- three times more likely to generate 100% of their revenues from exporting;
- more likely to have international operations than non-minority owned firms; and
- substantial contributors to exports in manufacturing, retail trade, technology, and educational services.
Redesigned MBDA Business Center Program
In 2011, MBDA successfully launched a redesigned MBDA Business Center program. The new nationally focused program combined the traditional Minority Business Enterprise Center (MBEC) and Minority Business Opportunity Center (MBOC) programs into one. Significant changes include an increase in funding and the elimination of geographic borders, allowing business centers to provide services to minority-owned businesses anywhere in the Nation. Additional changes include longer funding terms, reduced paperwork burdens, the addition of merger, acquisition, joint venture and strategic partnering support, and enhanced export services.