MBDA allocates $10.2 million for new business, job creation grants

Learning the keys to starting a new business is crucial to success, experts say.

Learning the key rules to starting a new business is crucial to success, experts say.

WASHINGTON (October 7, 2015) — On October 7, the U.S. Department of Commerce Minority Business Development Agency (MBDA) launched a search for prospective partners to operate their newly improved business center program. MBDA plans to award 29 individual cooperative agreements to operate MBDA Business Centers beginning April 1, 2016. The awards will cover a 5-year period and total $10.2 million annually. The centers will be located in areas with substantial minority populations and minority-owned firms.ad small

“Our new and improved business center program was developed based on performance outcomes of our most successful centers and where we’ve had the most impact,” said MBDA National Director Alejandra Y. Castillo. “Under the new program, the nationwide business center network is more integrated, places more emphasis on collaboration, and was designed to ensure the quality and consistency of service delivery throughout our nationwide network of business centers.”

new business sign illustration design over white

Starting a new business is an alternative that many career changers find appealing.

MBDA is looking for organizations to deliver business consulting services to minority-owned firms, providing them increased access to public and private sector contracting opportunities, financing, and capital investments. Successful applicants will be those that have experience in assisting minority firms with obtaining large-scale contracts and financial transactions; accessing corporate supply chains; facilitating joint ventures, teaming arrangements, mergers and acquisitions; conducting export transactions; and performing minority business advocacy.

It takes courage, determination and conviction to live your life's purpose and embrace new career opportunities.

It takes courage, determination and conviction to live your life’s purpose and embrace new career opportunities.

The types of organizations are encouraged to apply include for-profit entities, non-profit organizations, state and local government entities, Native American tribes and educational institutions. Applications are due December 3, 2016. More information can be found on at www.grants.gov or www.mbda.gov. A pre-application teleconference will be conducted October 15, 2015 to provide background information and answer questions about the program and application process. Details are on www.mbda.gov.

Many new college graduates and veteran employees have decided that it makes more sense to create their own jobs rather than compete for uncertain careers.

Many new college graduates and veteran employees have decided that it makes more sense to create their own jobs rather than compete for uncertain careers.

MBDA will announce more funding opportunities in coming months for additional cities and programs.This grant competition is to operate business centers in locations including Albuquerque, NM;  Atlanta, GA; Chicago, IL; Cleveland, OH; Columbia, SC; Dallas, TX, Denver, CO; Detroit, MI; El Paso, TX; Honolulu, HI; Houston, TX; Indianapolis, IN; Las Vegas, NV; Los Angeles, CA; Memphis, TN; Miami, FL; Minneapolis, MN; Mobile, AL;New Orleans, LA; Orlando, FL;Philadelphia, PA;Phoenix, AZ; Raleigh or Charlotte or Durham, NC; San Antonio, TX; San Jose, CA;San Juan, Puerto Rico; Seattle, WA; New York, NY or Northern New Jersey; Washington, DC or Northern Virginia.

Transitioning to a new phase on your professional path is often at the root of career and personal fulfillment yet many employees find it to scary to take the first step.

Transitioning to a new phase on your professional path is often at the root of career and personal fulfillment yet many employees find it to scary to take the first step.

MBDA, www.mbda.gov, is the only Federal agency dedicated to the growth and global competitiveness of U.S. minority-owned businesses. Our programs and services better equip minority-owned firms to create jobs, build scale and capacity, increase revenues and expand regionally, nationally and internationally. Services are provided through a network of MBDA Business Centers. After 45 years of service, MBDA continues to be a dedicated strategic partner to all U.S. minority-owned businesses, committed to providing programs and services that build size, scale and capacity through access to capital, contracts and markets. Follow them on Twitter @usmbda.–OnPointPress.net–

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