NEW ORLEANS, Nov. 01, 2022 (GLOBE NEWSWIRE) -- The National Minority Supplier Development Council (NMSDC) and the Minority Business Development Agency (MBDA) signed a landmark alliance agreement during the first day of NMSDC’s 50th Anniversary Conference & Exchange in New Orleans. This agreement will strengthen minority business enterprises (MBEs) and help build generational wealth for communities of color in the United States. More specifically the two organizations agree to:
- Collaborate and effectively leverage each other's capabilities, programs, and services to develop creative and innovative approaches to foster the growth and global competitiveness of MBEs including the amplification of opportunities for minority contractors made available as a result of the Bipartisan Infrastructure Law, the CHIPS Act, and other relevant federal investments.
- Build public awareness of programs, services, and events offered by each organization through respective internal and external communications, publications, and digital channels, including but not limited to newsletter features and columns, social media cross-posting, website link exchanges, and press announcements.
- Identify opportunities to work together to participate in conferences, workshops, seminars, and other educational outreach activities of one another.
- Investigate strategies for increasing the participation of minority entrepreneurs and business owners in various supply chains and providing access to public-private partnerships held by both parties.
In addition to these joint activities, MBDA agrees to:
- Recognize NMSDC as an important strategic ally with its network of grantees across the country.
- Facilitate introductions of local NMSDC offices to MBDA Business Centers.
- Provide opportunities for the NMSDC CEO and president and other subject matter experts to provide remarks during MBDA-hosted events, like the National Minority Enterprise Development Week (MED Week).
- Identify opportunities to collaborate, plan, and activate national awareness campaigns and programming that promote minority business enterprises and provide resources for their business growth, including linking to the NMSDC website on the MBDA website.
- Share information about NMSDC programs, events, and major initiatives through its digital channels and network of more than 70 grantees.
- Display the NMSDC logo on MBDA materials used in connection with jointly promoted MBDA/NMSDC activities and events.
In exchange, NMSDC agrees to:
- Plan, organize, and activate entrepreneurial programming for MBEs to provide resources and educational opportunities for their business growth, in mutually agreed upon markets.
- Provide speaking and engagement opportunities for the MBDA Under Secretary or designee at NMSDC national programs such as NMSDC’s Minority Business Economic Forum and Annual Conference & Exchange.
- Provide opportunities for MBDA to engage in NMSDC’s partnership platform Build Up Local to engage MBE resources, access, education, and information regarding the Bipartisan Infrastructure Law and other federal investments and the impact on their businesses.
- Display the MBDA logo on NMSDC materials used in connection with jointly promoted MBDA/NMSDC activities and events.
- Assist with the dissemination of MBDA events and initiatives, including research and information pertaining to MBEs, to NMSDC’s network of MBEs and stakeholders.
- Include a link to the MBDA website on NMSDC’s website.
“NMSDC and the MBDA have a long, storied history of working together to create a more racially equitable economy. I look forward to embarking on a new era of partnership between the two organizations that will strengthen our efforts to reach $1 trillion in annual revenue generation for NMSDC-certified MBEs,” said NMSDC CEO and President Ying McGuire.
You can learn more about MBDA and its efforts to promote the growth of minority owned businesses through the mobilization and advancement of public and private sector programs, policy, and research at www.mbda.gov.
About NMSDC
Founded in 1972, NMSDC is the longest-operating business growth engine for the broadest group of systematically excluded communities of color (Asian-Indian, Asian-Pacific, Black, Hispanic, and Native American), and our impact goes far beyond the supply chain. It’s about upward mobility for the emerging majority of Americans, an equal shot at participating in the American experiment of free-market capitalism and entrepreneurship. Our work is about correcting the unequal access to wealth-building opportunities. For more information, please visit nmsdc.org.
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