• Minority businesses are one of the fastest growing business segments, and they are well-positioned to contribute both to job growth and to the overall economic health of minority communities and the country as a whole.

• According to the Bureau of the Census, by the year 2020, the minority population will represent 34.4% of the total U.S. population.

• As the minority population continues to grow, those corporations that are comfortable with cultural diversity and change, and are responsive to their customers will be the ones that thrive.  Forward-looking corporations see minority business development as a value-added way of doing business, as well as part of being a good corporate citizen.
  
  

Why have a minority business development plan?

Good Business

• Corporate minority business development programs provide a means for corporations to foster economic growth within the minority business community and to bring more minority entrepreneurs into the mainstream of the American free enterprise system.

• Corporations also benefit from minority business development programs through expansion of their markets, a larger pool of qualified suppliers/contractors, cost savings and higher quality due to increased competition.

Community Development and Economic Growth

• Minority communities realize increased capital investment and employment opportunities where corporations where corporations are successfully implementing minority business development programs.  In addition, minority communities realize a reduced need for public assistance/social welfare programs, and an increased tax base in support of an improved quality of life for all citizens.

• Many corporations see a direct correlation between minority business development and corporate economic development efforts in the communities where they do business.  Minority Business Development stimulates the purchasing of a large segment of the population.

Beneficial to the Nation

• It is widely recognized that America needs an economically healthy minority community to help create jobs, provide a better work force, and bring greater prosperity to the nation.

• If it is true that a chain is only as strong as its weakest link, it makes good business sense to bring the minority business community into partnership with its majority counterparts.