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Minority Business Development Agency - Definition and Overview |
| Related Words: Access, Accretion, Accrual, Action, Addition, Advance, Aging, Amplification, Anacrusis, Angle, Appreciation, Apprenticeship, Architecture, Argument, Atmosphere, Augmentation, Background |
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The Minority Business Development Agency (MBDA) is an agency in the United States Department of Commerce that promotes growth and competitiveness of the United States' minority-owned businesses. On March 5, 1969, Richard Nixon wrote Executive Order 11458, establishing the Office of Minority Business Enterprise. In 1979, the agency was renamed the Minority Business Development Agency.
MBDA's stated mission is "to actively promote the growth and competitiveness of minority-owned businesses by providing access to public/private debt and equity financing, market opportunities, and management and business information; coordinating and leveraging public and private resources; and, facilitating strategic alliances."
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