Economic prosperity for all American business enterprises.
The U.S. Department of Commerce, Minority Business Development Agency (MBDA) is the only federal agency solely dedicated to the growth and global competitiveness of minority business enterprises.
MBDA invests in a national network of MBDA Business Centers, Specialty Centers, and Grantees. Our programs offer customized business development and industry-focused services to provide greater access to capital, contracts and markets.
Our clients are U.S. minority business enterprises (MBEs) owned and operated by African Americans, Asian Americans, Hasidic Jews, Hispanic Americans, Native Americans, and Pacific Islanders.
There are nearly
Employing more than
Generating more than
MBEs are fast-growing, innovative, and represented in every industry sector in the United States. MBDA promotes the growth of minority-owned businesses through the mobilization and advancement of public and private sector programs, policy, and research.
MBDA connects entrepreneurs to private lenders, including banks, mutual funds, and investors. With the Agency's support, minority-owned businesses gained access to more than $1.6 billion in capital in FY19.
MBDA produces and promotes information for and about MBEs. In FY19, MBDA helped minority-owned businesses secure $3.1 billion in contracts.
MBDA positions minority-owned businesses to perform in high growth industries, emerging markets and global supply chains. The Agency helped MBEs facilitate more than $300 million in export transactions during FY19.
Minority Business Enterprises (MBEs) represent an essential local job source with 8.7+ million employees and are represented in many industries
555,638 Asian-owned businesses, with 23.9% (132,698) in the accommodation and food services sector – the largest receipts ($814.8 billion) among minority groups.
124,004 Black or African American-owned businesses with 32% (39,714) of these firms in the healthcare and social services industry.
The top sectors for Hispanic-owned firms include accommodation, construction, and food services.
Minority communities continue to experience the devastating impacts of business disruptions and economic hardships due to COVID-19 and civil unrest.
Both minority-owned businesses and minority-held jobs have been disproportionately affected by the COVID-19 crisis and recession.
Minority business – the smallest businesses, particularly those with annual revenues less than $250,000 – are significantly less likely to apply to the US Small Business Administration Paycheck Protection Program. The lower application rate is likely to directly correlate to the shuttering of several minority-owned businesses across the country.
When minority-owned businesses struggle or fail, not only does the economic stability of their communities become compromised, but the well-being of families and neighborhood structure suffers, as well.
The number of working minority business owners in the United States has plummeted during the pandemic. Minority owned businesses realized the following declines from February to April: African American businesses | Down 40% Latino businesses |Down 32% Asian businesses |Down 25%
Demographics in America are changing rapidly. It is projected that America will be majority-minority by the year 2045.
Minority businesses will continue to play a vital role in contributing to the U.S. gross domestic product (GDP) and ensuring America’s global competitiveness.
As our economy reopens, intentionally spending money at minority-owned businesses will contribute to the economic sustainability and resilience of African American, American Indian, Asian American and Pacific Islanders, and Hispanic communities.
