Press Room April 2012

Nominations are now being accepted for the Minority Business Development Agency's 2012 Minority Business of the Year Awards Program. The awards are designed to recognize exemplary minority businesses and their accomplishments and best practices.

The deadline for submission of the 2012 National Minority Business of the Year Awards nominations has been extended to Monday, July 2, 2012.

The MBDA National Minority Business of the Year Awards Program is designed to celebrate and recognize the outstanding achievements of minority entrepreneurs, as well as individuals and organizations that have demonstrated leadership and commitment in advancing minority business enterprise.

The diversity of the awardees, as it pertains to the constituency served by MBDA, is a key objective of the MED Week Awards Program.

The awards are commemorative and will be given in the following categories:

• Access to Capital Award

• Minority Export Firm of the Year

• Minority Manufacturer of the Year

• Ronald H. Brown Leadership Award

• Abe Venable Legacy Award for Lifetime Achievement

The award winners will be announced in early August and the recipients will be presented with their award at the National Minority Enterprise Development (MED) Week conference scheduled for September 25-26, 2012 in Washington, DC. MBDA will contact winners by phone and may post their names, pictures and biographies on this website and MED Week Conference website.

MBDA National Director David A. Hinson
As Delivered
Tuesday, April 10, 2012

Thank you, Congressman Rangel, for that kind introduction. When Charlie Rangel speaks, something inside makes you want to say, Amen. Amen, Congressman, to your concern for those in need of a helping hand. Amen, to your willingness to speak truth to power. Amen, to your willingness to fight on the battlefield of Korea and in the halls of Congress. And on behalf of my generation, I want to thank you for passing a torch that is still lit and I promise you that we will work together to achieve your vision of a greater America.

It is always joy to share the stage with SBA Administrator Karen Mills. When SBA comes to an event, they come six or seven people deep. This speaks to the awesome power of SBA and the focused and excellent leadership of Karen Mills and Deputy Administrator Marie Johns. I, too, am glad to represent President Barack Obama, Secretary John Bryson and the “One Commerce” team here today. Before I continue I would like to introduce members of our New York team who have joined us today -- MBDA Regional Director Hayward Davenport and Imani Bennett.

Funds will establish a new MBDA Business Center in Memphis; Support Existing Centers in Houston, New Orleans

Washington, DC (April 19, 2012) - Today, the U.S. Department of Commerce’s Minority Business Development Agency (MBDA) announced $3.4 million in funding to winners of a grant competition designed to boost job creation and the global competitiveness of minority-owned firms.

“One of my top priorities while at MBDA has been to expand the Agency’s reach so more minority-owned firms benefit from the expertise of our business centers,” said MBDA National Director David A. Hinson. “Establishing a presence in Memphis strengthens our ability to help the Delta region support minority-owned businesses and boost job creation, key priorities of the Obama Administration.”

The $3.4 million in funds will support the creation of an MBDA Business Center in Memphis, and also support existing Centers in Houston, Texas, and New Orleans, Louisiana. With the addition of Memphis, Tennessee, the Agency’s footprint covers twenty-six states and the District of Columbia and Puerto Rico.

Minority Business More Likely to Export

Exporting is good for American business, good for American workers and good for American jobs. Ninety-five percent (95%) of the world’s customers lie outside the United States and Minority Business Development Agency is committed to working with U.S. companies to help American-made goods and services succeed in the global market.

Export Sales

Minority businesses have a competitive advantage in global trade based on their cultural ties, language skills and nimbleness. The 2007 Survey of Business Owners reveals that among firms with export sales representing 20 percent or more of their overall receipts, minority-owned businesses are twice as likely to export compared to non-minority firms. In addition, minority firms are more than three times as likely to have businesses generating 100 percent of all their sales in exports compared to non-minority respondent firms. This finding is quite substantial because it can support the Administration’s goal of doubling the nation’s exports by the end of 2014. Minority businesses can play an important role in meeting that goal through exports.

THE PRESIDENT:  Thank you.  (Applause.)  Hello, everybody.  Please, please have a seat.  Good afternoon.  I want to thank all of you for coming, and in particular, I want to thank the members of Congress who are here today from both parties, whose leadership and hard work made this bill a reality.

One of the great things about America is that we are a nation of doers -- not just talkers, but doers.  We think big.  We take risks.  And we believe that anyone with a solid plan and a willingness to work hard can turn even the most improbable idea into a successful business.  So ours is a legacy of Edisons and Graham Bells, Fords and Boeings, of Googles and of Twitters.  This is a country that’s always been on the cutting edge.  And the reason is that America has always had the most daring entrepreneurs in the world.

Some of them are standing with me today.  When their ideas take root, we get inventions that can change the way we live.  And when their businesses take off, more people become employed because, overall, new businesses account for almost every new job that’s created in America.