|
Seeking minority business assistance
Dear Small Biz Adviser:
Where can I find some good resources, preferably online, for minority
assistance regarding loans, special programs, etc., to help in purchasing
a small business?
Thank you for your time.
Marc
Dear Marc:
One thing not lacking in this country is a multitude of programs,
agencies and events designed to improve the development of minority
business. However, be careful in your expectations. Over the years,
I have found some programs are more hype than substance.
Let's begin with a listing of federally sponsored
business assistance programs:
- Small
Business Development Centers (SBDC), though not oriented specifically
to minorities, are evaluated by the U.S. Small Business Administration
(SBA) for counseling, workshops and technical assistance provided
to women and ethnic minorities.
- Minority
Business Development Centers (MBDC), funded and overseen by
the U.S. Department of Commerce, are similar to the SBDCs, but
focus exclusively on minorities and women. MBDC locations are
somewhat limited, so there may not be one in your vicinity.
- SCORE
chapters are made up of retired executives and, like SBDCs,
are evaluated for the services they provide to minorities and
women. Unlike SBDCs they give more attention to startups, even
if you are buying an existing business. You, in their eyes, are
a startup.
- Native
American Business Development Centers (NABDC), like MBDCs,
are funded and overseen by the Commerce Department. However, there
are even fewer of these offices than MBDC counterparts.
- Women's
Business Centers are funded, supported and heavily promoted
by the SBA. In the last decade, women-owned business owners (WBE)
have made great strides to secure support and funding from federal,
state and local governments. Additional information for women-run
firms is available from the private-sector National
Association of Women Business Owners (NAWBO).
On a smaller governmental scale, I can't think of
any state that doesn't have some type of minority business assistance.
Check out the Web sites for Washington,
Tennessee,
South
Carolina, Indiana
and Wisconsin
for examples of assistance programs at this level. For other states,
use Bankrate.com's
clickable map to connect with each state's commerce office.
From there, you can search for minority business assistance programs.
Frankly, I find state programs have their greatest
substance in creating contracting opportunities with state government
agencies. I strongly suggest you locate the nearest
minority chamber of commerce or local minority business support
agency. I learned a long time ago that the localized agencies devoted
to minority business assistance will "cut to the chase"
with you. The more active agencies know where you will and will
not get results.
I wish you well.
-- Posted: Aug. 14, 2001
|
