March 05, 2019


Sign Memorandum of Understanding at U.S. Department of Commerce to foster the growth and global competitiveness of minority business enterprises

WASHINGTON, D.C.– The U.S. Chamber of Commerce and the Minority Business Development Agency (MBDA) pledged today to work together to strengthen the growth and competitiveness of minority-owned businesses. At the U.S. Department of Commerce, the two parties signed a memorandum of understanding (MOU) outlining the details of the partnership, which aims to promote and support the development of minority businesses.

“Minority-owned businesses are an indispensable part of our economy and the communities they serve,” said Suzanne P. Clark, senior executive vice president of the U.S. Chamber of Commerce. “The U.S. Chamber is proud to partner with MBDA on this important effort to share resources and host educational events to strengthen the minority-business community. By working together, we can continue to help these businesses grow and flourish.”

“To keep America on the trajectory of economic growth and dominance, it is critical that we build minority-owned businesses into million and billion dollar companies,” said Henry Childs II, national director of the MBDA. “These are the firms that are helping communities grow and be sustainable. These are the companies that are creating jobs and exporting globally. It is a national imperative that minority-owned businesses help make the economy better for all Americans. Together with the help of organizations like the U.S. Chamber of Commerce, we can do that.”

The U.S. Chamber-MBDA partnership aims to share capabilities and technical resources to develop creative and innovative approaches that will foster the growth and development of minority business enterprises. Together, the two organizations will host events such as joint workshops, issue briefings, and trainings, as well as promote opportunities for minority- business owners.

In addition to the MBDA partnership, the U.S. Chamber launched a “Next-Gen” Business Partnership with Howard University and other historically black colleges and universities (HBCUs) and minority-serving institutions last year. Next-Gen promotes entrepreneurship among minorities and develops the next generation of diverse business leaders by helping students visualize their future as a business owner. Read more about the Next-Gen Business Partnership here.

“Promoting diversity is not just the right thing to do, it’s a business imperative. Diversity spurs creativity and innovation, which leads to greater business success,” said Rick Wade, vice president of strategic outreach and alliances at the U.S. Chamber of Commerce. “The Next-Gen and MBDA partnerships are the first of many steps that the Chamber is taking to help grow the next generation of entrepreneurs and expand opportunities for minority-owned businesses."