A Path to Recovery for Black America

Economic forum offers policy recommendations to the Obama Administration

Broadway Consolidated Cos. President Margaret Garner and Minority Business Development Agency National Director David Hinson (Source: Lonnie C. Major)

Broadway Consolidated Cos. President Margaret Garner and Minority Business Development Agency National Director David Hinson (Source: Lonnie C. Major)

RECOMMENDATIONS TO BLACK BUSINESS
•    Become fully involved in gaining information and finding access points for government employment, education and business programs. Whether its Race to the Top education grants, stimulus contracts or programs tied to the green economy, African Americans must be proactive in pursuing services that will help them advance as entrepreneurs, professionals and investors. For instance, Black entrepreneurs should seek contracting opportunities across several agencies including energy, agriculture and transportation. Black business organizations, civic groups and industry trade associations can play a greater role in providing information and direction on how to access programs made available by the Obama Administration.
•      Create partnerships to gain access to capital and larger contracts. A strategy that is staunchly advocated by MBDA’s Hinson, minority businesses will be able to gain greater economies of scale as well as the ability to pursue more lucrative tier 1 corporate contracts and expansive government stimulus work through the formation of  joint ventures and, in some cases, serving as investors
•    Develop public-private partnerships. Black businesses must connect with state and local government officials and press for greater inclusion in programs and projects – especially as a growing number of municipalities create “green zones” and other initiatives tied to emerging industries.
•    Black businesses should serve as incubators for next generation of entrepreneurs. These companies would provide paid apprenticeships for individuals in a range of growth industries.

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