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The Basics Of MBDA


[The Basics]             [MBDA's Mission Statement]          [Executive Order]

Who are we?
The Minority Business Development Agency (MBDA) is part of the U.S. Department of Commerce. MBDA is the only federal agency created specifically to foster the establishment and growth of minority-owned businesses in America. MBDA is an entrepreneurially focused and innovative organization committed to wealth creation in minority communities. The Agency's mission is to actively promote the growth and competitiveness of large, medium and small minority business enterprises (MBEs). MBDA actively coordinates and leverages public and private-sector resources that facilitate strategic alliances in support of its mission.

How Does MBDA Help Minority Businesses?
MBDA provides funding for a network of Minority Business Development Centers (MBDCs), Native American Business Development Centers (NABDCs), and Business Resource Centers (BRCs) located throughout the Nation. The Centers provide minority entrepreneurs with one-on-one assistance in writing business plans, marketing, management and technical assistance and financial planning to assure adequate financing for business ventures. The Centers are staffed by business specialists who have the knowledge and practical experience needed to run successful and profitable businesses.

What Do Centers Charge for Their Services?
Business referral services are provided free of charge. However, the network generally charges nominal fees for specific management and technical assistance services.

Where Are The Centers Located?
The Centers are located in areas with the largest concentration of minority populations and the largest number of minority businesses. For the address of your nearest MBDC, NABDC, BRC, and MBOC, you can view all of our centers here or you can contact the MBDA Regional Office responsible for operations in your state.

What is the Purpose of the Newly Updated MBDA Portal?
MBDA's new Minority Business Internet Portal (website) is an e-commerce solution designed for the MBE community. This Internet platform provides MBEs with access to customized tools and business information to help them grow and thrive in an ever-changing digital economy.

User-driven applications of the Portal (website) include the Phoenix Database of minority-owned firms and the Opportunity Contract Matching System. The Phoenix Database contains descriptive information on MBEs throughout the U.S and is designed to match firms with actual contract opportunities. Individuals will automatically receive E-mail alerts of contractual and international trade opportunities in their area. Purchasers from government and the private sector use
Phoenix to identify MBEs that can provide the products and services they need. There is no charge for use of the system.

Other applications of the Portal (website) include the Resource Locator -- a Business Assistance Identifier System; the Business Locator -- a Business-to-Business Matching System; and Match Me to Capital -- a Financier Matching System. The Portal (website) also features a Business Tool Bar for on-line business, business news, success stories, a research library and calendar of events.



SOURCES

MBDA Staff





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