Congratulating The Minority Business Development Agency On Its 40th Anniversary

Floor Speech

Mr. PAULSEN. Mr. Speaker, I yield myself such time as I may consume.

I rise today in support of House Resolution 215 to commemorate the 40th anniversary of the Minority Business Development Agency.

It was nearly half a century ago that President Nixon recognized the need to stand by minority businessmen and businesswomen advancing the ability of minority businesses to compete financially on a national level. With approximately 40 business centers around the country, the MBDA set up a national network providing minorities access and support to the resources necessary to compete in a global business environment.

Access to capital is the primary focus of the MBDA. Since its creation, this Agency has worked alongside more than 25,000 minority business owners to generate $1.85 billion in contracts and financial awards for minority businesses.

Mr. Speaker, MBDA also provides minority entrepreneurs with one-on-one assistance in writing their business plans, writing their marketing plans, management and technical assistance, and the financial planning that's necessary to assure adequate funding for business ventures.

Since its inception, the MBDA has expanded the scope of its initiatives internationally by participating in the very first U.S. trade mission to Bahrain as well as additional International Trade Administration missions to South America, Asia, Africa and the Caribbean.

As we observe this anniversary, we do need to applaud its continued commitment to the growth of minority businesses by providing access to capital.

Mr. Speaker, I reserve the balance of my time.

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