The Minority Business Development Agency holds its annual regional awards event starting Monday in Atlanta and, as usual, several companies will be honored for their achievements.
But this year’s program, which is labeled a business summit, will be different, too. Some 20 to 25 construction firms will get one-on-one meetings with the U.S. General Services Administration representatives who have stimulus project money to dole out.
The hope is that some of those companies, with annual revenues of at least $500,000, can meet federal requirements and earn a share of the work resulting from the American Recovery and Reinvestment Act.
“My experience working with minority businesses is that what they’re looking for is business opportunities,” said Patricia Hanes, Southeast regional director for the MBDA. The GSA, she said, has billions to spend on government facilities; and in a recession economy, minority construction firms need the work.
“Because of the climate, this is essential,” Hanes said.
“There are a lot of opportunities that are going to be let to the minority and small business community as it relates to the stimulus,” said Joann Hill, chief of business development for the MBDA Southeast region.
“We’ve worked to strengthen our relationship with the GSA, and now we’re ready to reach out to the minority business community to find vetted companies that have the capacity to bid on these (projects).”
The MBDA, part of the U.S. Department of Commerce, has aided more than 625,000 minority businesses since its inception 40 years ago. Then, there were 322,000 minority businesses with $11 billion in gross receipts. Minority firms now have $661 billion in gross receipts and number more than 4 million.
But Hanes called such growth “a drop in the bucket” compared to that of the overall economy. It is “critical to move minority businesses forward,” she added, with programs such as the one next week.
This year’s award-winners, including three from Atlanta, have been doing just that, she said.
● One is the Morehouse College Entrepreneurship Center, which was named advocate of the year. The five-year-old program aids the development of minority companies through training and consulting services. It has helped 50 client companies increase staff an average of 158 percent. Revenues for those businesses have increased by more than 450 percent.
“We help emerging companies, usually over five years old and going into the growth stage (of organizational development), to beat the statistics (for failure),” said Tiffany Bussey, the director.
● Pencilworx Design Group, a graphics and design services firm started by husband-and-wife team LaVon Lewis and Annetta Lewis nearly 10 years ago, was named minority technology firm of the year.
● AGL Resources, Atlanta-based parent company of Atlanta Gas Light, won the distinguished supplier diversity award. The company has grown its supplier diversity program to more than $20 million spent with businesses owned by minorities and women. It also developed a mentor and trial program for minority businesses to help them work with the natural gas industry.
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