To this very day, many women and minority-owned businesses still encounter various dilemmas when it comes to starting their own businesses. These challenges often consume a lot of time. Women and members of the minority should get their hands on very useful business resources to assist them in their ventures. Resources for women and minority-owned businesses have all the information that they need to start up and maintain their small companies. These resources could even help women and minority owned companies get their business grants from the government.
One reason why a women and minority-owned business may not be pushing forward is that the owners may not be utilizing all the resources available online or offline such as municipalities and professional organizations. Being able to expand your business is not always an easy task especially in the economic challenge that we are facing today. As of now, there are at least 10M US enterprises that have connections to more business resources than others. Their resources are about advice in business planning right down to their certification. This assistance is aimed to help entrepreneurs in winning private company and federal contracts.
Some of the organizations and services available to help women and minority owned businesses have been in this field for years now. They have proven themselves very effective in aiding women and minority-owned business owners to start and even boost their own companies.
Business Resources for Women and Minority Owned Businesses
The fastest resources that women and minority owned businesses can access are online ones. There are lots of services and programs that the US government offers to enable women and minorities establish and grow their companies. Here are some of them:
1. Minority Business Development Agency
MBDA is an agency under the wing of the US Department of Commerce. It helps women and minorities start and maintain their businesses. You can be eligible for MBDA assistance if the enterprise is controlled or owned by at least one economically or socially disadvantaged person who’s Puerto-Rican, Black, American Indian, Aleut or Eskimo, Spanish-speaking American, Asian Indian, Asian Pacific American, or Hasidic Jew. Caucasian women cannot qualify for the MBDA assistance program.
2. SBA Office of 8(a) Business Development
The SBA 8(a) is a program for business development under section 8(a) of the Small business Act. It aims to help small disadvantaged companies in accessing private and federal procurement markets. This includes:
- Business counseling
- Mentoring
- Procurement assistance
- Financial assistance
- Training
- Surety bonding
- Other management assistance
- Other technical assistance
3. HUBZone Program
The HUBZone is a program established and funded by the US Small Business Administration (SBA). It helps businesses located in underutilized areas to have opportunities in federal procurement.
4. SBA Office of Native American Affairs
This office makes sure that the Native Alaskans, Native Hawaiians, and American Indians could access start-up and development tools through the SBA’s entrepreneurial development, lending, and procurement programs.
5. MBE or Minority Business Enterprise Program
This is a program established in Wisconsin to help minority owned companies sell what they have to the State of Wisconsin and its established agencies. Every state has a similar program that will help entrepreneurs in that area. The company should be certified to qualify for this program.
6. AABDC or the Asian American Business Development Center
AABDC is classified as a 501 (c) (3) non-profit organization that was founded in 1994. It aims to help Asian-owned companies to have what it takes to compete with the huge marketplace. The organization does this by offering programs, support, and technical assistance to hone the management skills of the Asian American company owners. AABDC also assists Asian-American entrepreneurs and businesses in accessing possible markets through international trade and US federal procurement opportunities. This is made possible through AABDC’s networking resources and programs.
7. AAJA or the Asian American Journalists Association
AAJA is a non-profit educational and professional organization that fosters the cultural diversity by encouraging the Asian American youth and the Pacific Islanders to consider journalism as a career. It uses media to uplift the minorities and help their businesses through the use of media.
8. AAMA or the Asian American Manufacturers Association
This is a non-profit organization that was established in 1979. It is comprised of individuals and businesses that promote manufacturing and other related enterprises all through the Pacific Rim. It has more than 2,000 companies and 10,000 members.
It is a great endeavor for such organizations to help disadvantaged entrepreneurs in their ventures. Women and minority owned businesses will truly flourish with the help of these resources. Got other suggested organizations to aid women and minorities in the US? Share them here.
