Council will support continued growth of the minority business community U.S. Commerce Secretary Gary Locke today announced the appointment of 25 individuals to serve on the newly established National Advisory Council for Minority Business Enterprises. The advisory council, led by the Commerce Department’s Minority Business Development Agency (MBDA), is the first council focused on promoting the minority business community since the early 1970s.
The new council will provide advice and recommendations to Locke and the administration on a broad range of policy issues affecting the minority business community as part of the Obama administration’s focus on creating new jobs and strengthening the U.S. economy. Recent Census data show that the number of minority-owned firms is growing at a significant rate, yet the gap in revenue between minority-owned and non-minority-owned firms is substantial. Disparities in access to capital have also been recently documented in a report commissioned by MBDA.
“A strong and vibrant minority business community is absolutely essential to the growth of the U.S. economy,” Locke said. “I look forward to working with the advisory council to identify new and innovative ways the public and private sector can help spur growth among minority-owned firms so they can expand their operations and hire more people.” “The nation’s 5.8 million minority-owned firms have significant untapped potential that can benefit the United States,” said David A. Hinson, MBDA’s national director. “The advisory council has an opportunity to shape future policies and programs that will set the foundation for the growth of $100 million companies across all industries that are owned and operated by U.S. minorities.” Advisory council appointees represent a broad range of industries including technology, energy, financial services, manufacturing, healthcare, hospitality, construction and consulting, and vary from small businesses to multinational corporations. The council’s first meeting will take place in early 2011.
In addition to appointing council members, Locke has asked Mark Hoplamazian to serve as chair and Janice Savin-Williams to serve as vice chair of the council.
The full list of appointed members to the National Advisory Council on Minority Business Enterprises includes:
Source: U.S. Department of Commerce
