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Blog Category: Minority Business Development Agency

MBDA National Director Alejandra Castillo Challenges Young Latina Entrepreneurs to Think Big

MBDA National Director Alejandra Castillo speaks at the Latinas Think Big Conference

Last week, Alejandra Castillo, the first Hispanic American woman appointed as the National Director of the Minority Business Development Agency, participated in a panel discussion at the Latinas Think Big Innovation Summit at Google’s Mountain View Campus. The Summit brought together thought leaders, entrepreneurs, innovators and influencers to exchange ideas, address important issues, and connect attendees to high-caliber networks.

Created by Dr. Angelica Perez-Litwin, PhD, Latinas Think Big™ is a progressive platform and national tour created to bring together innovative ideas and groundbreaking projects of Latinas around the country. “I created Latinas Think Big™ to showcase the innovative ideas, talents and groundbreaking projects of Latinas around the country. I wanted to bring talented Latinas and thought leaders to the stages of well-regarded institutions like Columbia University and powerful companies like Google, for the world to 'see' how Latinas are contributing to the country's social and economic well-being,” said Dr. Perez-Litwin.  

According to the U.S. Census Bureau’s 2007 Survey of Business Owners, between 2002 and 2007 Hispanic-owned businesses increased by 43.7 percent to 2.3 million, more than twice the national rate of 18 percent between the same period of time. Hispanic women-owned businesses are the fastest growing business demographic, increasing 43 percent between 2002 and 2007.

Latinas Think Big creates a space in which young women have access to speak to professional women across all sectors. At the event, Castillo talked to the audience of young Latinas about the importance of entrepreneurship and innovation. “As entrepreneurs, you need to understand that 95% of the world’s consumers live outside of the U.S. borders. The fact that you speak Spanish, the fact that you are Latinos, and the fact that you understand the business culture of Colombia, Dominican Republic, and El Salvador, positions you in a very unique place to be able to tap into those markets. When thinking about entrepreneurial ideas, think about how to go global,” stated Castillo.

Minority Businesses Keep the “Made in America” Brand Strong

Recent studies have shown that the pace of growth in the U.S. manufacturing sector continues to rise. Minority businesses are playing an integral part in that growth and are helping to keep the “Made in America” product strong.

This year, the Minority Business Development Agency recognized two businesses for outstanding manufacturing impact and achieving significant success in employing new and innovative techniques that led to a significant increase in market share, job growth and customer satisfaction.

The first was Detroit Manufacturing Systems, LLC (DMS). DMS currently has more than 700 employees and develops state-of-the-art automotive interior systems. By utilizing the latest technologies, DMS assembles and manufactures injection molded interior trim components for global automotive brands, all with a firm commitment to quality and efficiency.

The second award was given to Ruiz Food Products, Inc. Fred Ruiz cofounded Ruiz Food Products, Inc., with his father Louis in a small warehouse in Tulare, Ca. in 1964. The company is now celebrating its 50th anniversary, and employs 2,300 people. Ruiz Food Products has three manufacturing facilities – in Dinuba, Calif., Tulare, Calif., and Denison, Texas – and recently purchased another facility in Florence County, S.C.

MBDA National Director Concludes Trip Connecting California Minority-Owned Businesses with Commerce Department Resources

MBDA National Director Alejandra Castillo addressing the California Hispanic Chamber of Commerce

Yesterday, MBDA National Director Alejandra Castillo concluded her week-long tour of California where she spoke to local businesses and community leaders about the Obama Administration’s work to spur continued economic growth and job creation through support of exporters, entrepreneurs, and small, women- and minority-owned businesses. 

Earlier this week, Castillo joined U.S. Secretary of Commerce Penny Pritzker in Oakland where the Secretary delivered remarks highlighting a number of Commerce Department resources available to help foster economic growth among minority-owned businesses. The Secretary also discussed the Commerce Department’s “Open for Business Agenda,” a bold policy agenda focused on boosting trade and investment, supporting innovation and entrepreneurship, and unleashing more government data. 

Following the Secretary’s remarks in Oakland, Castillo led a panel discussion on economic development that helped to connect local business leaders and economic development organizations with the expertise of the Department and its resources. The forum featured Overseas Private Investment Corporation’s (OPIC) Director of Corporate Development, Alison Germak; Port of Oakland’s Director of Aviation, Deborah Ale Flint; Alameda County Supervisor Keith Carson and Oakland Mayor Jean Quan. 

U.S. Commerce Secretary Penny Pritzker Shares Economic Development Opportunities in California

Representative Barbara Lee, Secretary Penny Pritzker, Clifton Burch, President at Empire Engineering & Construction, Inc. and MBDA National Director Alejandra Castillo

Last year, U.S. Secretary of Commerce Penny Pritzker unveiled the Commerce Department’s “Open for Business Agenda,” a bold policy agenda focused on boosting trade and investment, supporting innovation and entrepreneurship, and unleashing more government data. Yesterday, she took the Agenda on the road to California. Along with Minority Business Development Agency (MBDA) National Director Alejandra Castillo, Secretary Pritzker spoke to local businesses and community leaders about the Obama Administration’s work to spur continued economic growth and job creation through support of exporters, entrepreneurs, and small, women- and minority-owned businesses.

Secretary Pritzker joined Congresswoman Barbara Lee (D-CA), a strong advocate for minority economic development and trade policy, at a regional economic development forum at the Oakland Airport, hosted by Lee. The Secretary delivered remarks highlighting a number of Commerce Department resources available to help foster economic growth. Noting that exporting is an essential tool for economic development, she discussed the Commerce Department’s NEI/NEXT initiative, a data-based, customer-driven effort to help U.S. companies increase their exports to international markets. Secretary Pritzker also talked about the work of the NIST Manufacturing Extension Partnership to help manufacturers boost productivity and growth, as well as investments by the Economic Development Administration (EDA) to help attract new industries and create jobs. Through these and other tools, the Commerce Department is helping businesses in California and across the country to grow and hire. 

Following the Secretary’s remarks, MBDA National Director Castillo led a panel discussion on economic development that helped to connect local business leaders and economic development organizations with the expertise of the Department and its resources. The forum featured OPIC’s Director of Corporate Development, Alison Germak; Port of Oakland’s Director of Aviation, Deborah Ale Flint; Alameda County Supervisor Keith Carson and Oakland Mayor Jean Quan. 

Before the event, Secretary Pritzker also participated in a roundtable discussion with East Bay business leaders, hosted by Rep. Lee. They discussed regional economic development, supplier diversity and the importance of gender and ethnic diversity in corporate leadership. Earlier in the day, Secretary Pritzker and San Francisco Mayor Ed Lee met with leaders of local technology companies, including Twitter, Yelp, Kiva, and others, ​to discuss the Department of Commerce’s expanding role as “America’s Data Agency." Secretary Pritzker specifically asked how the government can most effectively make additional data available, and what public-private partnerships are currently serving as strong models that can be replicated when it comes to data dissemination.​ 

Commerce Department Recognizes Minority Business Community Champions

Deputy Secretary Bruce Andrews, National Director of the Minority Business Development Agency Alejandra Castillo, and MBDA Public Affairs Team Lead Velicia Woods congratulate a MED Week Award winner

Today, U.S. Deputy Secretary of Commerce Bruce Andrews recognized the 2014 National Minority Enterprise Development (MED) Week Award winners during a ceremony at the annual MED Week Conference in Washington, D.C. MBDA awarded 13 organizations, businesses and individuals who have demonstrated leadership and commitment in advancing the minority business community.

As one of the longest running Minority Business Enterprise events in the United States, the National MED Week Conference recognizes the outstanding achievements of leading minority entrepreneurs and organizations while positioning business owners for opportunities that drive growth. Minority Business Development Agency (MBDA) National Director Alejandra Y. Castillo and U.S. Small Business Administration (SBA) Administrator Maria Contreras-Sweet delivered remarks to kick off the one-day conference this morning.

The conference provided opportunities for small business owners and entrepreneurs to connect with senior public officials, industry executives and leaders from all over the country and learn about cutting-edge tools that can give their business a more competitive advantage.

The Obama Administration and Commerce Department have been laser-focused on helping businesses create good-paying jobs, particularly small and medium-sized businesses. On July 25, President Obama issued a proclamation declaring this week Minority Enterprise Development Week, during which Americans are celebrating the essential role that minority entrepreneurs and businesses play in our economy and communities.

Simple Steps to Expanding Your Business through Exports

Minority-owned firms employ nearly six million American workers and contribute one trillion dollars in annual economic output to the U.S. economy.

At the Department of Commerce and the Minority Business Development Agency we are dedicated to helping more minority-owned business leverage their competitive advantage and expand their business through exports. The most recent data from the U.S. Census Bureau reveals how minority-owned firms employ nearly six million American workers and contribute one trillion dollars in annual economic output to the U.S. economy. This economic output includes significant exporting contributions. In fact, minority-owned firms are export leaders in 14 key industry sectors.

To celebrate World Trade Month we are kicking off a blog series to highlight valuable resources and information for minority businesses looking at exporting for the first time and firms looking to expand their existing exporting efforts. 

Here are six steps to start exporting:

Complete an export readiness self-assessment: Find out if you have what it takes to market your products or services into the global marketplace. Provide answers to nine questions and receive advice on your exporting potential.

Training and counseling: use online resources like webinars and training courses to learn the basics of exporting and increase your understanding of the exporting process. Access webinars and online courses from the International Trade Agency (ITA), U.S. Census Bureau Go Global Webinars, and the Small Business Administration (SBA).

Develop your Export Business Plan: Use the SBA Export Business Planner to work through the process of gathering information and setting SMART goals and objectives. The Export Business Planner will help your business explore exporting options.

Conduct Market Research: It is critical for you to find the best exporting prospects for your business success. The U.S. government has the latest information on market conditions around the world. You can also use the Trade Stats Express to identify potential markets.

Find Buyers: Leverage opportunities at the local, state, and federal government levels to meet potential foreign buyers. Use reverse trade mission hosted by the U.S. Trade and Development Agency or overseas trade mission hosted by the U.S. Department of Commerce. Many states government also host overseas trade missions check out your states business opportunities websites.

Investigate Export Finance Option: understanding the available grants, insurance and finance programs available to assist your firm as exporting options are critical to your exporting success. Start with federal resources at Export-Import Bank, Overseas Private Investment Corporation, and SBA Export Loans

Take your business to the next level and begin to go and grow globally. MBDA and our national network of more than 40 MBDA Business Centers are here to help. Contact a MBDA Business Center to learn more about how exporting can increase your bottom line.

Also, stay tuned to learn more about the next phase of the National Export Initiative –NEI/NEXT! 

Commerce Connects U.S. Businesses to Opportunities in Africa’s Power Sector

Energy for Africa: 600 million people, 70% of the population of Sub-Saharan Africa are without electricity

With its fast-growing middle class and tremendous human, agricultural, and mineral resources, the continent of Africa is attracting investors and businesses from all around the world. Home to seven of the world’s ten fastest-growing economies, Sub-Saharan Africa outpaces global average growth. That is why, in 2012, President Obama launched the Presidential Policy Directive (PPD) on Sub-Saharan Africa, now known as the U.S. Strategy Toward Sub-Saharan Africa. The Strategy recognizes that Africa holds the promise to be “the world’s next major economic success story,” and the Commerce Department is working help businesses be part of that success story by promoting U.S. trade and investment through the Doing Business in Africa (DBIA) campaign.

Today, the Commerce Department’s Minority Business Development Agency’s (MBDA), Miami MBDA Business Center hosted the Power Africa B2B Summit to promote the public-private partnership model envisioned by President Obama’s Power Africa Initiative. President Obama announced Power Africa last year as an initiative to double the number of people with access to power in Sub-Saharan Africa, where 600 million people lack access to electricity. The United States is investing more than $7 billion in this effort.

At today’s Summit, prominent government and business leaders, including Nigeria’s Power Minister the Honorable Muhammed Wakil, CEOs of Africa’s major power companies, and representatives from the U.S. Export-Import Bank and USAID, joined MBDA to share opportunities for accessing the energy sector in African markets.

Commerce Participates in Business Sunday

Commerce Participates in Business Sunday

This weekend, the Commerce Department’s Center for Faith-based and Neighborhood Partnerships joined forces with the Minority Business Development Agency (MBDA), BusinessUSA, the Small Business Administration (SBA) and 19th Street Baptist Church to host the first Business Sunday in Washington, DC. Business Sunday is a program focused on promoting local economic growth and job creation by connecting congregations and communities with the valuable business development resources offered by the Federal Government.

Close to 300 business owners, entrepreneurs and nonprofit leaders came together for the first Business Sunday, packing the fellowship hall at 19th Street Baptist Church. The event included greetings from Melissa Rogers, Executive Director of the White House Office of Faith-based and Neighborhood Partnerships, as well as presentations from SBA, MBDA and BusinessUSA on how to access important technical assistance, business counseling, loans and other practical resources. Participants also had the opportunity to sign up for health insurance for their business or themselves through the DC Health Benefit Exchange. Following the event attendees stayed for more than an hour to network and speak individually with Commerce and SBA staff.

Business Sunday is a reflection of President Obama’s and Secretary Pritkzer’s shared commitment to strengthening our economy by empowering our people – our business owners, entrepreneurs, community development organizations, faith-based groups and others – to effect positive change at the local level. We look forward to continued collaboration with our partners to keep this work moving forward.

Department of Commerce releases FY 2014-2018 Strategic Plan

Plan priorities are in direct alignment with the Department’s “Open for Business Agenda”

Today the Department of Commerce released its Strategic Plan for fiscal years 2014 to 2018. The five-year plan, along with the recently released FY15 budget, provides the pathway for meeting the Department’s long-term goals and objectives. The plan, summarizes the key strategies and initiatives that will drive progress in the Department’s five priority areas:

  • Trade and Investment. Expanding the U.S. economy through increased exports and foreign direct investment that leads to more and better American jobs.
  • Innovation. Fostering a more innovative U.S. economy—one that is better at inventing, improving, and commercializing products and technologies that lead to higher productivity and  competitiveness.
  • Data. Improve government, business, and community decisions and knowledge by transforming Department data capabilities and supporting a data-enabled economy.
  • Environment. Ensuring communities and businesses have the necessary information, products, and services to prepare for and prosper in a changing environment.
  • Operational Excellence. Delivering better services, solutions, and outcomes that benefit the American people.

The creation of the strategic plan was a collaborative effort involving staff from every Department of Commerce bureau and serves as a foundation for economic growth and opportunity. The plan is in direct alignment with the  “Open for Business Agenda,” which reflects the Department’s role as the voice of business, and the Administration’s focus on economic growth and job creation. Department leaders and employees will use this plan to transform strategies into actions, and actions into results.

Read a summary of the plan or the entire plan.

Files

MBDA Deputy Director Receives Hispanic Business Community Award

Photo of Castillo with event organizers

Cross-posted from MBDA.gov blog by Alberto Betancourt, Press Secretary

The Hispanic Heritage Foundation held their first Hispanic Business Community Awards celebration Oct. 23 at the Capital One Bank headquarters in McLean, Va. The awards recognized the impact of Latino business leaders on the Greater Washington, DC community.

Alejandra Y. Castillo, MBDA National Deputy Director, was one of five awardees honored at the event. Castillo received the Public Service Leadership award.

“I’m very honored to receive this award,” she said. “I have a rewarding job where every day I come to work and have the unique privilege of honoring my father. He emigrated from the Dominican Republic and started his own business. That’s what inspires me to help minority-owned companies grow their own business.”

U.S. Secretary of Commerce Penny Pritzker also congratulated Castillo on the recognition. MBDA blog