The Commerce Department’s mission is to make American businesses more innovative at home and more competitive abroad. Responsible for everything from weather forecasts to patent protection, the following twelve departments of the Commerce Department impact the everyday lives of all Americans:
- Bureau of Economic Analysis (BEA)
- Bureau of Industry and Security (BIS)
- U.S. Census Bureau
- Economic Development Administration (EDA)
- Economics and Statistics Administration (ESA)
- International Trade Administration (ITA)
- Minority Business Development Agency (MBDA)
- National Oceanic and Atmospheric Administration (NOAA)
- National Telecommunications and Information Administration (NTIA)
- National Institute of Standards and Technology (NIST)
- National Technical Information Service (NTIS)
- U.S. Patent and Trademark Office (USPTO)
The Minority Business Development Agency (MBDA) embodies the Commerce Department’s goal of maximizing job creation and global competitiveness by creating a new generation of minority-owned businesses that generate $100 million in annual revenues. The MBDA provides services in five major areas globally through its business center:
Global Business Development: Focus is on the importance of minority-owned businesses as a key component of U.S. international trade. Minority-owned firms have the most favorable export attributes of any sector of the U.S. economy and represent the future of export growth.
Access to Capital and Financial Management: MBDA’s business advisors offer extensive experience in commercial lending and banking, financial, credit and risk analysis and general finance counseling.
Access to Contracts: MBDA business development specialists provide procurement assistance to help minority-owned firms do business with the federal, state, and local governments as well as private corporations. These specialists provide identification of procurement opportunities, solicitation analysis, bid and proposal preparation, research contract award histories, post-award contract administration, and certifications assistance.
Access to Markets: MBDA services in this area include government procurement assistance, private sector contract identification, and specialized certification assistance, including 8(a), MBE, and Small Disadvantaged Business. Assistance with market research, market plan development, and marketing communications is provided, as well.
Strategic Business Consulting: This service area includes strategic and business planning, staffing, organization and structure, policies and procedures, and general business consulting.
Most recently, MBDA featured a segment on how minority manufacturing businesses have strengthened the “Made in America” brand. This year, MBDA recognized a couple of businesses for outstanding manufacturing impact and achieving significant success in employing new and innovative techniques that led to a significant increase in market share, job growth, and customer satisfaction. “Manufacturing creates good jobs and has the largest multiplier effect of any part of the economy,” said Alejandra Y. Castillo, MBDA National Director. “We are very proud of the tremendous achievements of minority businesses in the manufacturing industry that help grow the national economy through innovation, job and wealth creation.”
MBDA’s website is user friendly and provides an unlimited amount of information and resources, including a repository of publications for public research and review, dedicated to minority business developments.
~ Zona Julien, L’15 ~
Class Advisor – Cory M. Lenz, Esq.