MBEConnect: What is MBDA doing to increase MBE contracts and capital? Hinson: “As a part of the Department of Commerce, MBDA engages MBEs by offering access to federal resources, as well as information about corporate opportunities. MBDA has taken a leadership role in the Administration’s efforts around small business contracting.” “We want to help MBEs gain access to the capital needed to grow to size and scale that enables them to reach their full potential. Over the last two years, MBDA has helped minority-owned firms gain access to nearly $7 billion in contracts and capital. We also maintain a robust database of companies that we believe can participate in mergers and acquisitions.” MBEConnect: Earlier this year, you announced a new MBDA Business Center program and issued awards to 27 entities to operate a center. What do you hope to accomplish with the new program? Hinson: “Actually, MBDA has a footprint in 50 locations around the country including our regional offices. When we launched the new MBDA Business Center program in April, we eliminated geographic boundaries, expanded the repertoire of services to include exports, international financing, and mergers and acquisitions. This means MBEs can approach any MBDA Business Center for assistance and leverage the expertise and resources from a nationwide network. We would like to see more MBEs using the MBDA Business Centers, especially the new Federal Procurement Center, which has the sole mission of helping minority-owned businesses successfully bid on and win federal contracts. We want to see MBEs continue to be an engine of job creation for the U.S. and a continued attraction for international business opportunities.” MBEConnect: What are some of the things MBDA would like to see happen next year with MBEs? Hinson: “We of course want to see an increase in the number of minority-owned businesses that are gaining access to capital and to markets in order to maximize success. We want to see more minority-owned businesses going into high growth areas such healthcare IT, green technology and other emerging industries. We also want to see more minority-owned firms surpassing the $100 million mark.” “Minority-owned firms are an undervalued asset within the American economic system. They represent the fastest growing job sector and the fastest growing economic sector in the nation. They also represent an opportunity for margin expansion and global access for international investors.” “As the country continues to rebuild economically, minority-owned firms are expected to continue to be a significant part of continued job growth. Minority businesses hold the key to the jobs of the future. MBEs currently employ more than 5.9 million Americans. We want to see them employing more American workers.” For more information about the Minority Business Development Agency (MBDA), visit: www.mbda.gov.
19 MBEConnect Profiles I Fall Issue
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