The agency partners with 8 Black women-led groups to raise capital

The Minority Business Development Agency is exploring options after disagreeing with a federal judge’s ruling that the agency must help all racial groups.

Trump’s nominee, U.S. District Judge Mark Pittman, ruled On March 5, a U.S. Department of Commerce agency created 55 years ago to help minority-owned businesses grow, including Black-owned businesses, must now also provide services to white people.

A Texas court essentially upheld a lawsuit filed by several white business owners who argued that MBDA’s policies were unconstitutional.

In an announcement MBDA sent to BLACK ENTERPRISES On March 11, Eric Morissette, acting secretary of commerce at MBDA, provided the next response:

“I do not agree with the court’s decision and we are considering our options in this matter. In the meantime, we will continue MBDA programs and work to help businesses owned by socially or economically disadvantaged people in a manner consistent with the court’s decision.”

He added: “When we increase economic access for socially and economically disadvantaged people and their businesses, we create more jobs, generate more income and uplift communities. It’s a win-win, and no one understands that better than President Biden and Vice President Harris.”

For the primary time in history, MBDA announced that it’s working with eight of the nation’s largest Black associations and women-in-leadership organizations to address funding shortfalls for girls entrepreneurs of color.

According to research conducted for the organization, these organizations have a complete membership of over a million women TO BE. Many of the groups have Black women business owners and entrepreneurs as members.

Despite being purportedly the fastest-growing group of entrepreneurs within the country, dozens of Black women still face significant obstacles in obtaining capital to start, grow, grow and even sustain a business. MBDA hosted associations which might be a part of the Divine Nine organization. They are joined by the National Council of Negro Women, The Links Incorporated, the Black Women’s Agenda and the National Coalition of 100 Black Women.

Sororities include Alpha Kappa Alpha, Delta Sigma Theta, Zeta Phi Beta and Sigma Gamma Rho Sorority. At an event on March 7, MBDA said it has signed MoUs with each organization to work together to support the event of ladies’s enterprises.

The agreement’s primary goal is to increase access to resources, including providing women entrepreneurs with key business development tools to eliminate funding disparities.

“The Minority Business Development Agency is excited to partner with women-led organizations to break down barriers and advance opportunities for Black women,” Morissette said.

Alphonso David, president and CEO of the Global Black Economic Forum, provided his opinion on the MBDA contract and the lawsuit.

“The Minority Business Development Agency plays a critical role in developing strategic alliances to empower businesses led and founded by people of color. This partnership bringing together Black women-led organizations is a reminder of our collective power to expand opportunities for each other and especially minority-owned businesses.”

The forum calls itself a world enterprise focused on advancing the economic interests of the Black Diaspora and other marginalized groups through global summits, on-the-job training and leadership development, policy advocacy and thought leadership.

Additionally, David stated: “A recent Texas district court ruling confirms the well-documented systemic and ongoing discrimination against people of color in contracting, and yet the court valiantly seeks to remove remedies to address this problem. It is now imperative that we redouble our efforts to fight economic inequality. And this alliance can serve as a helpful tool in this fight.”