Atlanta, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Last month, the National Minority Supplier Development Council (NMSDC) and the Association for Enterprise Opportunity (AEO) entered a strategic partnership aimed at leveraging the two organizations’ networks and expertise to advance the interests of underserved entrepreneurs.
The collaboration reflects NMSDC’s continued efforts to broaden its network to create additional opportunities for its certified minority business enterprises (MBEs) and increase their combined revenue to $1 trillion by the end of 2030. Planned activities of the partnership include:
- Collaborating on innovative approaches that support the growth of MBEs.
- Jointly raising public awareness of the two organizations’ respective programs and events.
- Increasing the participation of MBEs in various supply chains through the advancement of supply chain integration and public-private partnerships that benefit MBEs and other underserved entrepreneurs.
- Partnering on research initiatives to better understand the challenges and opportunities facing MBEs and other underserved businesses.
- Recognizing each other as strategic allies in their respective networks through joint branding and advertising opportunities.
- Engaging each organization’s leadership and networks to more actively participate in each organization’s respective signature events.
“As we build on a half-century of progress in minority business development, it is essential that we harness the strength and reach of organizations like AEO, who share our vision for a more inclusive U.S. and global economy,” said NMSDC CEO and President Ying McGuire. “Together, we will empower minority businesses to grow, create generational wealth, and drive prosperity for all.”
The partnership was celebrated in an MOU signing that was held at the recent NMSDC Annual Conference & Exchange on October 23 in Atlanta.
Natalie Madeira Cofield, President & CEO of AEO, expressed her enthusiasm for the partnership, stating, “At AEO, we recognize that early-stage procurement opportunities are pivotal for the growth and sustainability of small businesses. This partnership with NMSDC allows us to provide the essential training and resources these entrepreneurs need to navigate and succeed in the corporate and government contracting space. Together, we are building a foundation for a more inclusive and accessible business environment.”
Minority entrepreneurs and corporations interested in learning more about this partnership should reach out to NMSDC senior director of MBE services and global partnerships, Jetheda Hernandez at jetheda.hernandez@nmsdc.org.
About AEO
AEO is a trade organization and network that takes an entrepreneurial approach to solving systemic market issues to support the development of a robust and inclusive marketplace for underserved micro businesses. With its mission to create economic opportunities for underserved entrepreneurs, AEO supports a more inclusive marketplace by conducting research that provides actionable insight on serving microbusinesses, advocating on behalf of policies that support the industry, developing new products and platforms to that create market efficiencies, and connecting key market actors through its network.
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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