ABSTRACT

Minority Business Development Agency: An Overview of Its History and Programs [Updated November 30, 2021]   [open pdf - 1MB]

From the Introduction: "The Department of Commerce's Minority Business Development Agency (MBDA) is the lead federal agency dedicated to supporting growth and global competitiveness of the minority business community. Numerous congressional hearings, undergirded by historical and current academic research, have tried to document the extent to which members of minority groups confront disparities and disadvantages in creating new businesses, expanding markets, and finding opportunities for their business enterprises. Barriers include difficulty in accessing capital, a lack of capacity or expertise, and exclusion from business networks. Given these challenges, Congress and many successive presidential administrations since the Nixon Administration have supported national policies intended to address these disparities through the MBDA. The MBDA's primary mission is to assist minority businesses in achieving entrepreneurial participation and parity in the nation's free enterprise system and to overcome social and economic disadvantages that have limited their participation. To these ends, the MBDA is charged with formulating and coordinating federal policies and programs to support minority business enterprises (MBEs) by providing technical and managerial expertise and resources through a network of local business development centers. This report includes[:] [1] a discussion of the agency's origins and authority; [2] a summary of the agency's funding history, including Administration requests and final appropriations;[3] a review of the agency's recent programs, initiatives, performance, and accomplishments; and [4] a review of current issues and considerations."

Report Number:
CRS Report for Congress, R46816
Author:
Publisher:
Date:
2021-11-30
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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