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Recent Minority Business News

  • Thu, 18 Sep 2014 20:23:53 +0000: SBA Proposes Revisions to Employee-Based Size Standards for Manufacturing and Other Industry Sectors - MBDA Syndicated News Feed
    Created on September 9, 2014
     

    The U.S. Small Business Administration published two proposed rules to revise small business size standards in North American Industry Classification System (NAICS) Sector 31-33 (Manufacturing) and industries with employee-based size standards that are not a part of NAICS Sector 31-33, Sector 42 (Wholesale Trade), and Sector 44-45 (Retail Trade).  The proposed rules were published in the Federal Register today. 

    As part of its comprehensive size standards review required by the Small Business Jobs Act of 2010, the SBA evaluated employee-based size standards for all 364 industries in NAICS Sector 31-33 and 57 industries and five exceptions that are not in NAICS Sectors 31-33, 42, or 44‑45 to determine whether they should be retained or revised.

    In the first rule, SBA proposes to increase size standards for 209 industries in Sector 31-33.  The SBA also proposes to increase the refining capacity component of the Petroleum Refiners (NAICS 324110) size standard to 200,000 barrels per calendar day total capacity for businesses that are primarily engaged in petroleum refining.  The proposed rule also eliminates the requirement that 90 percent of a refiner’s output being delivered should be refined by the bidder. 

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  • Thu, 18 Sep 2014 15:26:12 +0000: SBA introduces New Online Course for Young Entrepreneurs in Spanish - MBDA Syndicated News Feed
    Created on September 18, 2014
     

    Habla EspanolYoung entrepreneurs have a new tool to help determine if they’re ready for business ownership and to help them get started. Young Entrepreneurs: An Essential Guide to Starting Your Own Business (Jóvenes Emprendedores) is a free, self-paced online course in Spanish that gives an overview of basic business principles and introduces resources available from the U.S. Small Business Administration.  

     “This month, the SBA recognizes the vital contributions Hispanic American small business owners have made to our economy as we observe National Hispanic Heritage Month,” said Maria Contreras-Sweet, SBA Administrator.  “As a proud Hispanic American, I believe that providing financial, educational and technical assistance to Hispanic entrepreneurs is a major means to create jobs and stimulate the economy.  The new course is an essential business development tool for young entrepreneurs that can be central to the future success for many generations to come.”

    The Young Entrepreneurs course is designed to help with the essentials of starting a small business, including evaluating business ideas, choosing the best financing options and registering a business.  The course also includes useful resources that will help with each step along the path to entrepreneurial success.

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  • Wed, 17 Sep 2014 22:06:11 +0000: Albert K. Shen - MBDA Syndicated News Feed

    Albert K. ShenMr. Albert K. Shen has recently been appointed to serve as National Deputy Director of the Minority Business Development Agency, (MBDA.)  In this role, Mr. Shen serves as the principal advisor to the MBDA National Director and will assist in managing the day-to-day activities of the Agency.

    Prior to his appointment with MBDA, Mr. Shen was a small business owner and respected community advocate whose leadership has made a big impact on some of the Northwest’s largest and most critical infrastructure and environmental clean-up projects.

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  • Wed, 17 Sep 2014 21:49:05 +0000: Secretary Pritzker Says Increased Gender Diversity in Corporate Boardrooms is Vital to Economic Success - MBDA Syndicated News Feed

    Secretary PritzkerSecretary of Commerce Penny Pritzker addressed the urgent need to boost our companies’ economic competitiveness by bringing more women into corporate leadership at the Global Conference on Women in the Boardroom, hosted by the Johns Hopkins University’s Paul H. Nitze School of Advanced International Studies (SAIS). 

    Pritzker noted that this pressing challenge of addressing the of a lack of women in corporate leadership is nothing new in American business. Female advancement in corporate America is stagnant. Women hold less than 5 percent of Fortune 500 CEO positions. Women hold less than 17 percent of board seats at Fortune 500 companies. And 10 percent of these companies have no women on their boards at all. 

    Women in corporate leadership roles is not solely a women’s issue. Secretary Pritzker argued that it is an issue of economic competitiveness and the presence of more women in the boardroom is critical to companies’ creativity, performance, and ability to thrive in the 21st century. Leadership with diverse and different backgrounds typically mean more creativity, fresh ideas, and better outcomes. 

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