A recent report from the Department of Labor revealed that just 12% of the 23% of businesses registered to receive federal are owned by Black people.
This disparity has been addressed by the Biden-Harris Administration, and they’ve vowed to help close the chasm with Empower to Grow (E2G), a newly revamped training program from the Small Business Association that aims to improve scaling readiness and insight into federal contracting processes for smaller, minority owned businesses.
Last month, the White House stated they plan to expand access for minority-owned small businesses to the over $700 billion spent through federal contracts each year.
“Small business growth unlocks >press release. “We’ve revitalized the 7(j) training program to launch an improved ‘Empower to Grow’ acceleration program with tools to help ready more businesses and build a diversified supplier base, which will also increase competition, innovation, and performance in the federal marketplace. We know there is more work to be done to reverse the disparities in federal procurement for America’s minority-owned businesses, and the SBA’s Empower to Grow training program will be a critical resource supporting that work.”
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