Facts & Figures
Based on the published report from the national Minority Business Development Agency (MBDA), minority-owned firms:
- Generated $1 trillion in Economic Output to the U.S. economy and created 5.8 million jobs;
- Outpace growth of non-minority-owned firms;
- Generated combined gross receipts of about $700 billion and employed 3.5 million workers;
- Are more likely to export than non-minority firms.
[For the full national MBDA report, click here.]
Our office supports minority-owned businesses in growing and creating jobs because we recognize their critical contributions to our national and local economy. Through a partnership between the MBDA, the University of Southern California, and the Mayor’s Office, the MBDA Business Center - LA provide strategic consulting services to help entrepreneurs access capital, win contracts, and grow their businesses.
Since 2007, this center have successfully secured $400 million in contracts and $104 million in financing for minority-owned businesses in LA. In the 2011-2012 fiscal year, our center have helped minority businesses obtain $31.7 million in contracts and procurements. Our clients received $30.7 in financing transactions, and effectively created 206 jobs in Los Angeles.
In the 2012-2013 fiscal year, the center continues to dedicate time and resources to helping small minority businesses grow and expand. Our business specialists works diligently in originating, analyzing, and closing financial transactions for the clients. Through one-on-one meetings and workshops, we efficiently outreach to new firms and provide necessary referrals.