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Bush Administration Official Urges Minority-Owned Businesses to
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Posted On: Thursday January 29th, 2004 at 12:00am EST
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SUMMARY
SAN JOSE--The Bush Administration's point man for minority business
development Ronald N. Langston encouraged Hispanic business owners in San
Jose to export, emphasizing that their global exports will be critical to
the growth of their businesses as well as to the American economy.
Langston met with about 70 Hispanic business executives to discuss minority
entrepreneurship and the health and vitality of the nation's economy.
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Langston, National Director for the Minority Business Development Agency (MBDA) at the Commerce Department, said the Bush Administration remains focused on the economy and committed to encouraging the entrepreneurial spirit where minority businesses can flourish.
"The future of the American economy is dependent on our country's ability to trade with our neighbors, and that is especially true for minority businesses in San Jose," Langston told the business leaders. "Free trade opens new markets abroad while creating new jobs and greater opportunities here at home."
"We are going to have to start thinking globally if we are going to grow locally," Langston said. "There is no turning back from globalization. Minorities need to make use of programs offered at MBDA and the Commerce Department and get in the game," he said.
Nationwide, there are over 3 million minority-owned companies with sales totaling more than $591 billion. In 1997, San Jose minority business owners generated $16.6 billion in annual revenues. According to the latest figures available, there were 40,394 minority-owned firms in the San Jose metro area.
"More minority business leaders need to learn about how closely our economic security is linked to the world around us." Langston encouraged the business leaders to echo this message throughout their communities. He also said that minority business owners have an ally in the Bush Administration and Commerce Secretary Donald Evans, who is committed to opening new markets for their goods and services.
Langston is in San Jose as part of an outreach tour to minority business communities to explore opportunities to expand programs for minority businesses throughout the west coast. Langston began his tour in Seattle, Wash., San Francisco, Palo Alto and Oakland, Calif. Langston will head to Hawaii for the last leg of his tour for more meetings and roundtables with minority entrepreneurs. |
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